Incyte Co. (NASDAQ:INCY) Shares Sold by Cresset Asset Management LLC

Cresset Asset Management LLC lessened its holdings in Incyte Co. (NASDAQ:INCY - Free Report) by 49.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,489 shares of the biopharmaceutical company's stock after selling 8,304 shares during the period. Cresset Asset Management LLC's holdings in Incyte were worth $586,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Retirement Systems of Alabama lifted its holdings in shares of Incyte by 0.4% in the fourth quarter. Retirement Systems of Alabama now owns 34,620 shares of the biopharmaceutical company's stock valued at $2,391,000 after purchasing an additional 139 shares in the last quarter. Trust Point Inc. lifted its holdings in shares of Incyte by 5.0% in the fourth quarter. Trust Point Inc. now owns 3,282 shares of the biopharmaceutical company's stock valued at $227,000 after purchasing an additional 156 shares in the last quarter. Bank of Nova Scotia lifted its holdings in shares of Incyte by 0.8% in the fourth quarter. Bank of Nova Scotia now owns 21,694 shares of the biopharmaceutical company's stock valued at $1,498,000 after purchasing an additional 171 shares in the last quarter. Mather Group LLC. lifted its holdings in shares of Incyte by 26.4% in the fourth quarter. Mather Group LLC. now owns 828 shares of the biopharmaceutical company's stock valued at $57,000 after purchasing an additional 173 shares in the last quarter. Finally, 180 Wealth Advisors LLC lifted its holdings in shares of Incyte by 3.9% in the fourth quarter. 180 Wealth Advisors LLC now owns 5,231 shares of the biopharmaceutical company's stock valued at $361,000 after purchasing an additional 195 shares in the last quarter. Hedge funds and other institutional investors own 96.97% of the company's stock.

Insider Transactions at Incyte

In related news, EVP Barry P. Flannelly sold 19,807 shares of the firm's 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 directly owns 33,567 shares of the company's stock, valued at approximately $2,272,150.23. This trade represents a 37.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Sheila A. Denton sold 599 shares of the firm's stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $69.99, for a total transaction of $41,924.01. Following the sale, the executive vice president now directly owns 25,848 shares of the company's stock, valued at approximately $1,809,101.52. The trade was a 2.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,475 shares of company stock valued at $2,424,751 over the last 90 days. Corporate insiders own 17.80% of the company's stock.

Incyte Trading Up 0.9%

Shares of Incyte stock traded up $0.55 during trading hours on Friday, hitting $63.31. The company's stock had a trading volume of 1,330,051 shares, compared to its average volume of 2,321,935. Incyte Co. has a 1-year low of $53.56 and a 1-year high of $83.95. The business has a fifty day moving average of $60.49 and a 200 day moving average of $68.47. The company has a market capitalization of $12.25 billion, a PE ratio of 234.49, a P/E/G 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.

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on INCY shares. Royal Bank of Canada boosted their price objective on shares of Incyte from $64.00 to $67.00 and gave the company a "sector perform" rating in a research report on Wednesday, April 30th. JPMorgan Chase & Co. cut their price objective on shares of Incyte from $70.00 to $68.00 and set a "neutral" rating for the company in a research report on Monday, April 21st. Citigroup cut their price objective on shares of Incyte from $97.00 to $88.00 and set a "buy" rating for the company in a research report on Tuesday, February 11th. JMP Securities reissued a "market perform" rating on shares of Incyte in a research report on Tuesday, February 11th. Finally, William Blair lowered shares of Incyte from an "outperform" rating to a "market perform" rating in a research report on Tuesday, March 18th. One 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 given a strong buy rating to the company. According to data from MarketBeat.com, Incyte presently has an average rating of "Hold" and an average target price 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.