Cubist Systematic Strategies LLC Acquires 192,004 Shares of Incyte Co. (NASDAQ:INCY)

Cubist Systematic Strategies LLC lifted its stake in Incyte Co. (NASDAQ:INCY - Free Report) by 270.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 263,019 shares of the biopharmaceutical company's stock after acquiring an additional 192,004 shares during the period. Cubist Systematic Strategies LLC owned approximately 0.14% of Incyte worth $18,167,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. CWA Asset Management Group LLC bought a new position in shares of Incyte during the fourth quarter valued at about $1,933,000. Wells Fargo & Company MN raised its holdings in shares of Incyte by 61.3% during the fourth quarter. Wells Fargo & Company MN now owns 174,190 shares of the biopharmaceutical company's stock valued at $12,031,000 after acquiring an additional 66,220 shares in the last quarter. Pallas Capital Advisors LLC bought a new position in Incyte in the 4th quarter worth $1,006,000. JPMorgan Chase & Co. lifted its holdings in Incyte by 13.5% in the fourth quarter. JPMorgan Chase & Co. now owns 323,640 shares of the biopharmaceutical company's stock worth $22,354,000 after buying an additional 38,550 shares during the period. Finally, SG Americas Securities LLC boosted its position in shares of Incyte by 262.2% during the fourth quarter. SG Americas Securities LLC now owns 99,407 shares of the biopharmaceutical company's stock valued at $6,866,000 after purchasing an additional 71,963 shares in the last quarter. Hedge funds and other institutional investors own 96.97% of the company's stock.

Insider Buying and Selling

In other Incyte news, EVP Barry P. Flannelly sold 19,807 shares of the stock in a transaction that occurred on Friday, March 14th. The stock was 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Sheila A. Denton sold 14,069 shares of the company's stock in a transaction dated 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 transaction, the executive vice president now owns 25,848 shares in the company, valued at $1,914,561.36. The trade was a 35.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 34,475 shares of company stock worth $2,424,751. Company insiders own 17.60% of the company's stock.

Analyst Upgrades and Downgrades

INCY has been the subject of several research reports. JPMorgan Chase & Co. decreased their price target on shares of Incyte from $70.00 to $68.00 and set a "neutral" rating for the company in a research note on Monday, April 21st. Stifel Nicolaus lifted their target price on shares of Incyte from $75.00 to $77.00 and gave the stock a "hold" rating in a report on Monday, February 10th. Citigroup reduced their target price on Incyte from $97.00 to $88.00 and set a "buy" rating for the company in a report on Tuesday, February 11th. StockNews.com upgraded shares of Incyte from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, April 30th. Finally, JMP Securities reissued a "market perform" rating on shares of Incyte in a report on Tuesday, February 11th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $73.53.

Incyte Stock Down 0.7 %

INCY stock opened at $62.11 on Tuesday. The stock has a market capitalization of $12.02 billion, a PE ratio of 230.05, 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 moving average of $62.29 and a 200 day moving average of $68.86. Incyte Co. has a 52 week low of $52.81 and a 52 week high of $83.95.

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

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.

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