Dimensional Fund Advisors LP Sells 87,083 Shares of Incyte Co. (NASDAQ:INCY)

Dimensional Fund Advisors LP cut its stake in Incyte Co. (NASDAQ:INCY - Free Report) by 6.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,325,505 shares of the biopharmaceutical company's stock after selling 87,083 shares during the period. Dimensional Fund Advisors LP owned about 0.69% of Incyte worth $91,544,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of INCY. CWA Asset Management Group LLC bought a new position in shares of Incyte during the fourth quarter valued at $1,933,000. Tri Ri Asset Management Corp bought a new position in Incyte during the 3rd quarter valued at about $3,292,000. Wells Fargo & Company MN boosted its position in Incyte by 61.3% in the fourth quarter. Wells Fargo & Company MN now owns 174,190 shares of the biopharmaceutical company's stock valued at $12,031,000 after buying an additional 66,220 shares in the last quarter. Pallas Capital Advisors LLC bought a new stake in Incyte during the fourth quarter worth about $1,006,000. Finally, JPMorgan Chase & Co. increased its holdings in shares of Incyte by 13.5% during 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 in the last quarter. Institutional investors own 96.97% of the company's stock.

Analyst Ratings Changes

INCY has been the topic of a number of research analyst reports. Stifel Nicolaus increased their price target on Incyte from $75.00 to $77.00 and gave the stock a "hold" rating in a research report on Monday, February 10th. JMP Securities restated a "market perform" rating on shares of Incyte in a report on Tuesday, February 11th. Truist Financial cut their price target on Incyte from $74.00 to $72.00 and set a "hold" rating for the company in a report on Tuesday, March 18th. Citigroup lowered 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. Finally, Wells Fargo & Company upped their target price on shares of Incyte from $58.00 to $59.00 and gave the stock an "equal weight" rating in a research report on Wednesday. One 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 stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $73.53.

Incyte Trading Up 0.8 %

INCY traded up $0.50 during midday trading on Friday, reaching $62.53. 1,525,246 shares of the company were exchanged, compared to its average volume of 2,355,408. The stock has a market capitalization of $12.10 billion, a P/E ratio of 231.60, a PEG ratio of 0.41 and a beta of 0.89. Incyte Co. has a one year low of $52.28 and a one year high of $83.95. The stock's 50-day simple moving average is $62.77 and its 200 day simple moving average is $68.88. 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 posted its 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. The company 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%. The business's revenue for the quarter was up 19.5% compared to the same quarter last year. During the same period last year, the business posted $0.64 earnings per share. As a group, analysts forecast that Incyte Co. will post 4.86 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Sheila A. Denton sold 599 shares of the company's stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $69.99, for a total value of $41,924.01. Following the completion of the transaction, the executive vice president now owns 25,848 shares in the company, valued at $1,809,101.52. This represents a 2.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Barry P. Flannelly sold 19,807 shares of the firm's stock in a transaction 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 sale, the executive vice president now owns 33,567 shares in the company, valued at approximately $2,272,150.23. The trade was a 37.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,475 shares of company stock worth $2,424,751 over the last ninety days. 17.60% of the stock is currently owned by corporate 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.