Aware Super Pty Ltd as trustee of Aware Super Sells 13,693 Shares of Incyte Corporation $INCY

Key Points

• Aware Super reduced its Incyte position by 4.5%, selling 13,693 shares during the third quarter and retaining 293,117 shares valued at approximately $35.6 million.
• Analyst sentiment remains mixed, with 12 Buy, 12 Hold and one Sell rating; the consensus rating is Hold with a target price of $133.10.
• Incyte exceeded quarterly expectations, reporting a loss of $3.60 per share versus the expected $3.93 loss and revenue of $1.56 billion, up 14% year over year.

Aware Super Pty Ltd as trustee of Aware Super lowered its position in Incyte Corporation (NASDAQ:INCY - Free Report) by 4.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 293,117 shares of the biopharmaceutical company's stock after selling 13,693 shares during the quarter. Aware Super Pty Ltd as trustee of Aware Super owned about 0.14% of Incyte worth $35,570,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Fiduciary Financial Advisors bought a new stake in shares of Incyte during the 2nd quarter valued at about $26,000. Continuum Advisory LLC bought a new position in shares of Incyte in the second quarter worth approximately $36,000. Latitude Advisors LLC bought a new position in shares of Incyte in the third quarter worth approximately $39,000. Quantbot Technologies LP purchased a new stake in Incyte in the second quarter valued at approximately $52,000. Finally, Parkside Financial Bank & Trust raised its stake in Incyte by 49.0% in the second quarter. Parkside Financial Bank & Trust now owns 727 shares of the biopharmaceutical company's stock valued at $82,000 after purchasing an additional 239 shares in the last quarter. Hedge funds and other institutional investors own 96.97% of the company's stock.

Analyst Upgrades and Downgrades

INCY has been the subject of several research analyst reports. Citigroup reiterated a "buy" rating on shares of Incyte in a research report on Monday, August 3rd. Truist Financial raised their price objective on shares of Incyte from $105.00 to $115.00 and gave the company a "hold" rating in a research report on Wednesday, October 14th. Royal Bank Of Canada lifted their price objective on shares of Incyte from $114.00 to $117.00 and gave the stock a "sector perform" rating in a report on Friday. Weiss Ratings lowered shares of Incyte from a "buy (b+)" rating to a "buy (b)" rating in a research report on Friday, October 23rd. Finally, HC Wainwright reiterated a "buy" rating on shares of Incyte in a research report on Tuesday, October 27th. Twelve equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $133.10.

Insider Activity

In other news, insider Pablo Cagnoni sold 10,801 shares of Incyte stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $125.56, for a total value of $1,356,173.56. Following the transaction, the insider owned 183,200 shares in the company, valued at approximately $23,002,592. The trade was a 5.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 16.20% of the company's stock.

Incyte Stock Performance

INCY stock opened at $120.04 on Tuesday. Incyte Corporation has a 52 week low of $89.25 and a 52 week high of $132.60. The firm's fifty day moving average is $120.33 and its 200 day moving average is $108.22. The firm has a market cap of $24.33 billion, a P/E ratio of 14.72, a P/E/G ratio of 4.83 and a beta of 0.74.

Incyte (NASDAQ:INCY - Get Free Report) last posted its quarterly earnings results on Thursday, October 29th. The biopharmaceutical company reported ($3.60) earnings per share for the quarter, topping the consensus estimate of ($3.93) by $0.33. The business had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.46 billion. Incyte had a net margin of 27.71% and a return on equity of 29.93%. The firm's revenue for the quarter was up 14.0% on a year-over-year basis. During the same period in the previous year, the firm posted $2.26 earnings per share. As a group, analysts forecast that Incyte Corporation will post 1.97 EPS for the current year.

Incyte Profile

Incyte Corporation is a biopharmaceutical company that discovers, develops and commercializes medicines for oncology and inflammatory or autoimmune diseases. The company focuses on therapies that target specific biological pathways, including Janus kinase (JAK), fibroblast growth factor receptor (FGFR) and other mechanisms involved in cancer and immune-related conditions.

Its key products include Jakafi (ruxolitinib), a JAK inhibitor used in the United States for certain blood cancers and graft-versus-host disease; Opzelura (ruxolitinib cream), a topical treatment for atopic dermatitis and nonsegmental vitiligo; and Pemazyre (pemigatinib), an FGFR inhibitor approved for selected patients with cholangiocarcinoma and certain myeloid or lymphoid neoplasms.

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