Exchange Traded Concepts LLC Has $2.14 Million Holdings in Incyte Co. (NASDAQ:INCY)

Exchange Traded Concepts LLC lowered its stake in Incyte Co. (NASDAQ:INCY) by 7.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 30,984 shares of the biopharmaceutical company’s stock after selling 2,341 shares during the period. Exchange Traded Concepts LLC’s holdings in Incyte were worth $2,140,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Brooklyn Investment Group acquired a new stake in shares of Incyte in the third quarter worth about $30,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Incyte in the third quarter worth about $33,000. Cromwell Holdings LLC lifted its position in shares of Incyte by 101.1% in the third quarter. Cromwell Holdings LLC now owns 563 shares of the biopharmaceutical company’s stock worth $37,000 after buying an additional 283 shares during the last quarter. Groupama Asset Managment lifted its position in shares of Incyte by 11.4% in the third quarter. Groupama Asset Managment now owns 59,597 shares of the biopharmaceutical company’s stock worth $39,000 after buying an additional 6,105 shares during the last quarter. Finally, Capital Performance Advisors LLP bought a new position in shares of Incyte in the third quarter worth about $45,000. Institutional investors and hedge funds own 96.97% of the company’s stock.

Insider Transactions at Incyte

In other news, EVP Barry P. Flannelly sold 3,680 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $79.68, for a total value of $293,222.40. Following the transaction, the executive vice president now directly owns 58,042 shares of the company’s stock, valued at $4,624,786.56. The trade was a 5.96 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Thomas Tray sold 650 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $69.31, for a total value of $45,051.50. Following the completion of the transaction, the insider now directly owns 23,312 shares in the company, valued at $1,615,754.72. The trade was a 2.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,375 shares of company stock valued at $1,737,578 in the last three months. 17.60% of the stock is owned by corporate insiders.

Incyte Trading Up 0.1 %

INCY stock opened at $72.59 on Monday. Incyte Co. has a 1-year low of $50.35 and a 1-year high of $83.95. The firm has a market cap of $13.98 billion, a P/E ratio of 518.54, a P/E/G ratio of 0.53 and a beta of 0.71. The business’s 50 day moving average is $71.69 and its 200-day moving average is $68.48. The company has a current ratio of 1.87, a quick ratio of 1.82 and a debt-to-equity ratio of 0.01.

Incyte (NASDAQ:INCY) last released its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.07 earnings per share for the quarter, missing the consensus estimate of $1.19 by ($0.12). The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.08 billion. Incyte had a net margin of 0.80% and a negative return on equity of 0.63%. The company’s revenue for the quarter was up 23.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.91 earnings per share. Equities analysts anticipate that Incyte Co. will post 0.39 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

INCY has been the topic of a number of recent analyst reports. UBS Group initiated coverage on Incyte in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $77.00 price objective on the stock. Cantor Fitzgerald reiterated a “neutral” rating on shares of Incyte in a research note on Friday, January 10th. JPMorgan Chase & Co. lifted their price objective on Incyte from $65.00 to $71.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. William Blair reiterated an “outperform” rating on shares of Incyte in a research note on Friday, December 13th. Finally, Wolfe Research initiated coverage on Incyte in a research note on Tuesday, October 1st. They issued an “outperform” rating and a $84.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $75.71.

Incyte Profile

Incyte Corporation, a biopharmaceutical company, engages in the discovery, development, and commercialization of therapeutics for hematology/oncology, and inflammation and autoimmunity areas in the United States and internationally. The company offers JAKAFI (ruxolitinib) for treatment of intermediate or high-risk myelofibrosis, polycythemia vera, and steroid-refractory acute graft-versus-host disease; MONJUVI (tafasitamab-cxix)/MINJUVI (tafasitamab) for relapsed or refractory diffuse large B-cell lymphoma; PEMAZYRE (pemigatinib), a fibroblast growth factor receptor kinase inhibitor that act as oncogenic drivers in liquid and solid tumor types; ICLUSIG (ponatinib) to treat chronic myeloid leukemia and Philadelphia-chromosome positive acute lymphoblastic leukemia; and ZYNYZ (retifanlimab-dlwr) to treat adults with metastatic or recurrent locally advanced Merkel cell carcinoma, as well as OPZELURA cream for treatment of atopic dermatitis.