Caisse DE Depot ET Placement DU Quebec Has $28.75 Million Position in Incyte Co. (NASDAQ:INCY)

Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of Incyte Co. (NASDAQ:INCY - Free Report) by 8,220.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 416,202 shares of the biopharmaceutical company's stock after buying an additional 411,200 shares during the period. Caisse DE Depot ET Placement DU Quebec owned about 0.22% of Incyte worth $28,747,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of INCY. Geode Capital Management LLC grew its position in Incyte by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 4,040,086 shares of the biopharmaceutical company's stock valued at $278,346,000 after purchasing an additional 103,910 shares in the last quarter. AQR Capital Management LLC increased its stake in Incyte by 29.7% in the 4th quarter. AQR Capital Management LLC now owns 3,502,813 shares of the biopharmaceutical company's stock valued at $241,519,000 after buying an additional 801,090 shares during the last quarter. LSV Asset Management boosted its position in Incyte by 18.6% during 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 stake in shares of Incyte during the 4th quarter valued at $121,890,000. Finally, Northern Trust Corp raised its holdings in Incyte by 9.7% in the 4th quarter. Northern Trust Corp now owns 1,696,123 shares of the biopharmaceutical company's stock valued at $117,151,000 after buying an additional 150,672 shares during the last quarter. 96.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Incyte

In other Incyte news, EVP Barry P. Flannelly sold 19,807 shares of Incyte stock in a transaction 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 completion of the sale, the executive vice president now owns 33,567 shares of the company's stock, valued at $2,272,150.23. This trade represents a 37.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Sheila A. Denton sold 14,069 shares of the firm's stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $74.07, for a total value of $1,042,090.83. Following the completion of the sale, the executive vice president now owns 25,848 shares of the company's stock, valued at $1,914,561.36. This represents a 35.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 34,475 shares of company stock worth $2,424,751 over the last three months. Insiders own 17.60% of the company's stock.

Incyte Price Performance

NASDAQ INCY traded up $0.25 during trading on Thursday, hitting $59.80. 762,117 shares of the stock traded hands, compared to its average volume of 2,353,489. The company has a market capitalization of $11.58 billion, a P/E ratio of 221.42, a price-to-earnings-growth ratio of 0.41 and a beta of 0.68. The company has a quick ratio of 1.94, a current ratio of 1.97 and a debt-to-equity ratio of 0.01. The firm has a 50-day simple moving average of $61.74 and a 200-day simple moving average of $68.73. Incyte Co. has a 12-month low of $52.81 and a 12-month high of $83.95.

Incyte (NASDAQ:INCY - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The biopharmaceutical company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.15. Incyte had a return on equity of 0.05% and a net margin of 0.77%. The company had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $996.17 million. During the same period last year, the firm earned $0.64 EPS. The firm's revenue for the quarter was up 19.5% compared to the same quarter last year. As a group, analysts predict that Incyte Co. will post 4.86 EPS for the current year.

Analyst Ratings Changes

A number of analysts recently issued reports on INCY shares. JMP Securities restated a "market perform" rating on shares of Incyte in a report on Tuesday, February 11th. Truist Financial dropped their price objective on shares of Incyte from $74.00 to $72.00 and set a "hold" rating on the stock in a research note on Tuesday, March 18th. Stifel Nicolaus raised their price target on shares of Incyte from $75.00 to $77.00 and gave the company a "hold" rating in a report on Monday, February 10th. Wells Fargo & Company increased their price target on Incyte from $58.00 to $59.00 and gave the stock an "equal weight" rating in a research note on Wednesday, April 30th. Finally, William Blair lowered Incyte from an "outperform" rating to a "market perform" rating in a research report on Tuesday, March 18th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Incyte currently has a consensus rating of "Hold" and a consensus price target of $73.53.

About Incyte

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.