Vanguard Group Inc. Sells 802,279 Shares of Incyte Co. (NASDAQ:INCY)

Vanguard Group Inc. trimmed its position in Incyte Co. (NASDAQ:INCY) by 3.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,580,477 shares of the biopharmaceutical company’s stock after selling 802,279 shares during the period. Vanguard Group Inc. owned 0.10% of Incyte worth $1,352,424,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Stevens Capital Management LP purchased a new stake in shares of Incyte in the fourth quarter worth $210,000. LPL Financial LLC raised its holdings in shares of Incyte by 21.7% in the 4th quarter. LPL Financial LLC now owns 27,543 shares of the biopharmaceutical company’s stock valued at $1,902,000 after acquiring an additional 4,916 shares in the last quarter. Heron Bay Capital Management boosted its position in shares of Incyte by 2.0% during the 4th quarter. Heron Bay Capital Management now owns 15,302 shares of the biopharmaceutical company’s stock valued at $1,057,000 after acquiring an additional 296 shares during the last quarter. Fox Run Management L.L.C. purchased a new position in shares of Incyte during the fourth quarter worth about $551,000. Finally, KLP Kapitalforvaltning AS bought a new position in shares of Incyte in the fourth quarter worth approximately $3,785,000. 96.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Incyte news, EVP Sheila A. Denton sold 14,069 shares of the business’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $74.07, for a total transaction of $1,042,090.83. Following the transaction, the executive vice president now directly owns 25,848 shares of the company’s stock, valued at approximately $1,914,561.36. The trade was a 35.25 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Barry P. Flannelly sold 19,807 shares of Incyte stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $67.69, for a total transaction of $1,340,735.83. Following the sale, the executive vice president now directly owns 33,567 shares in the company, valued at $2,272,150.23. The trade was a 37.11 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 46,827 shares of company stock valued at $3,322,618. Company insiders own 17.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Guggenheim cut shares of Incyte from a “buy” rating to a “neutral” rating and set a $92.00 price target for the company. in a research note on Tuesday, March 18th. StockNews.com lowered shares of Incyte from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 12th. JMP Securities restated a “market perform” rating on shares of Incyte in a research report on Tuesday, February 11th. Cantor Fitzgerald reiterated a “neutral” rating on shares of Incyte in a report on Friday, January 10th. Finally, UBS Group began coverage on Incyte in a research report on Tuesday, December 17th. They set a “neutral” rating and a $77.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $74.88.

Incyte Price Performance

Shares of Incyte stock opened at $60.68 on Friday. The company’s fifty day simple moving average is $69.76 and its two-hundred day simple moving average is $70.05. Incyte Co. has a 12-month low of $50.35 and a 12-month high of $83.95. The firm has a market cap of $11.74 billion, a PE ratio of 224.75, a price-to-earnings-growth ratio of 0.41 and a beta of 0.76. The company has a quick ratio of 1.94, a current ratio of 1.97 and a debt-to-equity ratio of 0.01.

Incyte (NASDAQ:INCY) last posted its earnings results on Monday, February 10th. The biopharmaceutical company reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.57 by ($0.48). Incyte had a return on equity of 0.05% and a net margin of 0.77%. As a group, equities analysts expect that Incyte Co. will post 4.86 EPS for the current year.

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.