Dimensional Fund Advisors LP Buys 208,167 Shares of Incyte Corporation $INCY

Key Points

• Dimensional Fund Advisors increased its stake in Incyte by 15%, purchasing 208,167 shares to hold 1,596,129 shares (~0.81% of the company) worth about $135.35 million.
• Insider selling and institutional ownership: insiders have sold 72,561 shares (~$7.2 million) in the past 90 days — including EVP Mohamed Khairie Issa — while institutional investors own roughly 96.97% of the stock.
• Financials and analyst view: Incyte missed quarterly EPS ($1.80 vs. $1.96 expected) though revenue rose 27.8% to $1.51B; the company has a ~$19.1B market cap and a consensus "Hold" rating with an average target of $104.

Dimensional Fund Advisors LP grew its stake in Incyte Corporation (NASDAQ:INCY - Free Report) by 15.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,596,129 shares of the biopharmaceutical company's stock after purchasing an additional 208,167 shares during the period. Dimensional Fund Advisors LP owned about 0.81% of Incyte worth $135,350,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. Harbor Capital Advisors Inc. bought a new position in Incyte in the 3rd quarter valued at approximately $26,000. Root Financial Partners LLC bought a new stake in shares of Incyte during the third quarter worth $28,000. Quent Capital LLC bought a new stake in shares of Incyte during the third quarter worth $30,000. MUFG Securities EMEA plc acquired a new position in shares of Incyte during the second quarter worth $32,000. Finally, CYBER HORNET ETFs LLC acquired a new position in shares of Incyte during the second quarter worth $33,000. 96.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Incyte news, EVP Mohamed Khairie Issa sold 10,856 shares of the stock in a transaction that occurred on Wednesday, January 7th. The shares were sold at an average price of $109.07, for a total transaction of $1,184,063.92. Following the completion of the sale, the executive vice president owned 66,132 shares of the company's stock, valued at approximately $7,213,017.24. This represents a 14.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Thomas Tray sold 2,774 shares of the firm's stock in a transaction that occurred on Friday, December 19th. The stock was sold at an average price of $100.00, for a total transaction of $277,400.00. Following the transaction, the insider owned 22,973 shares of the company's stock, valued at approximately $2,297,300. The trade was a 10.77% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 72,561 shares of company stock valued at $7,195,307 over the last ninety days. 17.80% of the stock is owned by company insiders.

Incyte Stock Performance

NASDAQ INCY opened at $96.02 on Wednesday. The company has a market capitalization of $19.11 billion, a price-to-earnings ratio of 14.98, a PEG ratio of 0.77 and a beta of 0.84. The company has a quick ratio of 3.25, a current ratio of 3.32 and a debt-to-equity ratio of 0.01. Incyte Corporation has a twelve month low of $53.56 and a twelve month high of $112.29. The stock has a fifty day simple moving average of $102.18 and a 200 day simple moving average of $96.47.

Incyte (NASDAQ:INCY - Get Free Report) last announced its earnings results on Tuesday, February 10th. The biopharmaceutical company reported $1.80 EPS for the quarter, missing the consensus estimate of $1.96 by ($0.16). The company had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.35 billion. Incyte had a return on equity of 26.34% and a net margin of 25.03%.The firm's quarterly revenue was up 27.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.43 earnings per share. Sell-side analysts expect that Incyte Corporation will post 4.86 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on INCY. Piper Sandler raised their price objective on Incyte from $102.00 to $110.00 and gave the company an "overweight" rating in a report on Friday, February 6th. Wells Fargo & Company lowered their target price on Incyte from $107.00 to $101.00 and set an "equal weight" rating for the company in a report on Wednesday, February 11th. Weiss Ratings upgraded Incyte from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, March 2nd. Truist Financial set a $103.00 price target on Incyte in a research note on Wednesday, December 24th. Finally, TD Cowen restated a "buy" rating on shares of Incyte in a report on Tuesday, January 13th. Ten investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Incyte has a consensus rating of "Hold" and an average price target of $104.00.

Incyte Profile

Incyte Corporation is a Wilmington, Delaware–based biopharmaceutical company focused on the discovery, development and commercialization of novel therapies in oncology and inflammation. Since its founding in 2002, Incyte has grown from a small research organization into a global enterprise, advancing a portfolio of internally developed and partnered assets. The company's research and development efforts center on small-molecule drugs and biologics that modulate critical signaling pathways implicated in cancer, autoimmune disorders and rare diseases.

The company's flagship product is Jakafi® (ruxolitinib), a Janus kinase (JAK) inhibitor approved for the treatment of myelofibrosis and polycythemia vera.

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