D. E. Shaw & Co. Inc. Reduces Position in Incyte Co. (NASDAQ:INCY)

D. E. Shaw & Co. Inc. lowered its holdings in Incyte Co. (NASDAQ:INCY - Free Report) by 48.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 576,540 shares of the biopharmaceutical company's stock after selling 532,033 shares during the period. D. E. Shaw & Co. Inc. owned 0.30% of Incyte worth $39,822,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in INCY. Norges Bank bought a new position in Incyte during the 4th quarter valued at $121,890,000. AQR Capital Management LLC raised its holdings in shares of Incyte by 29.7% during the fourth quarter. AQR Capital Management LLC now owns 3,502,813 shares of the biopharmaceutical company's stock worth $241,519,000 after acquiring an additional 801,090 shares in the last quarter. Sound Shore Management Inc. CT raised its holdings in Incyte by 98.4% during the fourth quarter. Sound Shore Management Inc. CT now owns 1,201,089 shares of the biopharmaceutical company's stock valued at $82,959,000 after buying an additional 595,741 shares in the last quarter. Pictet Asset Management Holding SA raised its holdings in Incyte by 73.4% during the fourth quarter. Pictet Asset Management Holding SA now owns 1,313,873 shares of the biopharmaceutical company's stock valued at $90,749,000 after buying an additional 556,218 shares in the last quarter. Finally, LSV Asset Management grew its position 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 valued at $239,500,000 after purchasing an additional 544,080 shares during the last quarter. Hedge funds and other institutional investors own 96.97% of the company's stock.

Incyte Price Performance

Shares of NASDAQ:INCY traded up $0.35 on Wednesday, reaching $61.16. The company's stock had a trading volume of 2,143,865 shares, compared to its average volume of 2,335,794. Incyte Co. has a 52-week low of $53.56 and a 52-week high of $83.95. The company has a market cap of $11.84 billion, a P/E ratio of 226.53, a PEG ratio of 0.41 and a beta of 0.68. The company has a 50-day simple moving average of $60.95 and a 200 day simple moving average of $68.61. 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 (NASDAQ:INCY - Get Free Report) last released its earnings results 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. The firm had revenue of $1.05 billion during 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%. The business's revenue was up 19.5% on a year-over-year basis. During the same quarter last year, the business earned $0.64 EPS. As a group, equities research analysts anticipate that Incyte Co. will post 4.86 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Wells Fargo & Company raised their price target on shares of Incyte from $58.00 to $59.00 and gave the stock an "equal weight" rating in a research note on Wednesday, April 30th. William Blair cut Incyte from an "outperform" rating to a "market perform" rating in a report on Tuesday, March 18th. Royal Bank of Canada increased their target price on Incyte from $64.00 to $67.00 and gave the stock a "sector perform" rating in a report on Wednesday, April 30th. StockNews.com upgraded shares of Incyte from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, April 30th. Finally, JPMorgan Chase & Co. reduced their price target on Incyte from $70.00 to $68.00 and set a "neutral" rating for the company in a report on Monday, April 21st. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Incyte has an average rating of "Hold" and an average target price of $73.53.

Insider Transactions at Incyte

In other Incyte news, EVP Barry P. Flannelly sold 19,807 shares of the business's 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 owns 33,567 shares of the company's stock, valued at approximately $2,272,150.23. The trade was a 37.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Sheila A. Denton sold 599 shares of Incyte stock in a transaction that occurred 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 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. In the last quarter, insiders sold 34,475 shares of company stock worth $2,424,751. 17.80% of the stock is currently owned by insiders.

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.