Bank of America Corp DE Decreases Holdings in Incyte Co. (NASDAQ:INCY)

Bank of America Corp DE decreased its holdings in shares of Incyte Co. (NASDAQ:INCY - Free Report) by 24.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 657,806 shares of the biopharmaceutical company's stock after selling 217,103 shares during the quarter. Bank of America Corp DE owned about 0.34% of Incyte worth $45,435,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Geode Capital Management LLC increased its holdings in shares of Incyte by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 4,040,086 shares of the biopharmaceutical company's stock worth $278,346,000 after purchasing an additional 103,910 shares during the period. AQR Capital Management LLC increased its holdings in shares of Incyte by 29.7% in the fourth quarter. AQR Capital Management LLC now owns 3,502,813 shares of the biopharmaceutical company's stock worth $241,519,000 after purchasing an additional 801,090 shares during the period. LSV Asset Management increased its holdings in shares of Incyte by 18.6% in the fourth quarter. LSV Asset Management now owns 3,467,490 shares of the biopharmaceutical company's stock worth $239,500,000 after purchasing an additional 544,080 shares during the period. Norges Bank bought a new position in shares of Incyte in the fourth quarter worth $121,890,000. Finally, Northern Trust Corp increased its holdings in shares of Incyte by 9.7% in the fourth quarter. Northern Trust Corp now owns 1,696,123 shares of the biopharmaceutical company's stock worth $117,151,000 after purchasing an additional 150,672 shares during the period. Institutional investors own 96.97% of the company's stock.

Insider Buying and Selling at Incyte

In other Incyte news, EVP Sheila A. Denton sold 14,069 shares of the stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $74.07, for a total transaction of $1,042,090.83. Following the sale, the executive vice president now owns 25,848 shares of the company's stock, valued at approximately $1,914,561.36. This trade represents a 35.25% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Barry P. Flannelly sold 19,807 shares of the stock in a transaction that occurred on 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 of the company's stock, 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. In the last 90 days, insiders have sold 34,475 shares of company stock valued at $2,424,751. 17.80% of the stock is currently owned by corporate insiders.

Incyte Trading Up 1.8%

Incyte stock traded up $1.12 during trading hours on Tuesday, hitting $64.93. The company had a trading volume of 232,712 shares, compared to its average volume of 2,312,179. The firm has a market cap of $12.57 billion, a P/E ratio of 240.38, a P/E/G ratio of 0.41 and a beta of 0.68. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.94 and a current ratio of 1.97. Incyte Co. has a 1 year low of $53.56 and a 1 year high of $83.95. The company has a 50-day moving average price of $60.41 and a two-hundred day moving average price of $68.30.

Incyte (NASDAQ:INCY - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The biopharmaceutical company reported $1.16 EPS for the quarter, topping analysts' consensus estimates of $1.01 by $0.15. The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $996.17 million. Incyte had a net margin of 0.77% and a return on equity of 0.05%. Incyte's revenue for the quarter was up 19.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.64 earnings per share. On average, sell-side analysts anticipate that Incyte Co. will post 4.86 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on INCY. Stifel Nicolaus upped their price target on shares of Incyte from $75.00 to $77.00 and gave the stock a "hold" rating in a report on Monday, February 10th. Wells Fargo & Company increased their target price on Incyte from $58.00 to $59.00 and gave the company an "equal weight" rating in a research note on Wednesday, April 30th. William Blair lowered shares of Incyte from an "outperform" rating to a "market perform" rating in a research report on Tuesday, March 18th. Citigroup dropped their target price on shares of Incyte from $97.00 to $88.00 and set a "buy" rating for the company in a report on Tuesday, February 11th. Finally, JMP Securities restated a "market perform" rating on shares of Incyte in a report on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Incyte currently has an average rating of "Hold" and an average price target of $73.53.

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.