Incyte Co. (NASDAQ:INCY) Shares Sold by Ashford Capital Management Inc.

Ashford Capital Management Inc. cut its stake in shares of Incyte Co. (NASDAQ:INCY - Free Report) by 6.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 224,370 shares of the biopharmaceutical company's stock after selling 16,270 shares during the quarter. Incyte comprises about 1.8% of Ashford Capital Management Inc.'s investment portfolio, making the stock its 26th largest position. Ashford Capital Management Inc. owned approximately 0.12% of Incyte worth $15,497,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Barclays PLC increased its holdings in Incyte by 8.1% in the third quarter. Barclays PLC now owns 1,031,932 shares of the biopharmaceutical company's stock valued at $68,208,000 after buying an additional 77,542 shares in the last quarter. Gateway Investment Advisers LLC increased its stake in Incyte by 14.9% in the 4th quarter. Gateway Investment Advisers LLC now owns 4,517 shares of the biopharmaceutical company's stock valued at $312,000 after purchasing an additional 587 shares in the last quarter. Merit Financial Group LLC acquired a new position in Incyte during the fourth quarter worth $624,000. Ballentine Partners LLC raised its holdings in Incyte by 14.3% during the fourth quarter. Ballentine Partners LLC now owns 5,335 shares of the biopharmaceutical company's stock worth $368,000 after purchasing an additional 666 shares during the last quarter. Finally, Crossmark Global Holdings Inc. boosted its position in Incyte by 99.3% during the fourth quarter. Crossmark Global Holdings Inc. now owns 49,978 shares of the biopharmaceutical company's stock worth $3,452,000 after purchasing an additional 24,899 shares in the last quarter. Hedge funds and other institutional investors own 96.97% of the company's stock.

Insider Transactions at Incyte

In related news, EVP Sheila A. Denton sold 599 shares of the 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 completion of the sale, the executive vice president now owns 25,848 shares of the company's stock, valued at approximately $1,809,101.52. This represents a 2.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Barry P. Flannelly sold 19,807 shares of Incyte 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 transaction, the executive vice president now directly owns 33,567 shares in the company, valued at approximately $2,272,150.23. This trade represents a 37.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 34,475 shares of company stock worth $2,424,751 in the last three months. 17.80% of the stock is currently owned by company insiders.

Incyte Stock Performance

NASDAQ:INCY opened at $63.81 on Tuesday. The company has a market cap of $12.35 billion, a P/E ratio of 236.34, a P/E/G ratio of 0.41 and a beta of 0.68. The firm's 50 day moving average is $60.41 and its two-hundred day moving average is $68.30. Incyte Co. has a fifty-two week low of $53.56 and a fifty-two week high of $83.95. The company has a quick ratio of 1.94, a current ratio of 1.97 and a debt-to-equity ratio of 0.01.

Incyte (NASDAQ:INCY - Get Free Report) last issued 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. Incyte had a return on equity of 0.05% and a net margin of 0.77%. The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $996.17 million. During the same period last year, the company posted $0.64 EPS. The business's quarterly revenue was up 19.5% on a year-over-year basis. Analysts expect that Incyte Co. will post 4.86 EPS for the current year.

Analyst Ratings Changes

INCY has been the subject of several research reports. Stifel Nicolaus lifted their price target on Incyte from $75.00 to $77.00 and gave the stock a "hold" rating in a research note on Monday, February 10th. Truist Financial cut their target price on shares of Incyte from $74.00 to $72.00 and set a "hold" rating for the company in a research report on Tuesday, March 18th. Citigroup lowered their price target on shares of Incyte from $97.00 to $88.00 and set a "buy" rating on the stock in a research report on Tuesday, February 11th. JMP Securities restated a "market perform" rating on shares of Incyte in a research report on Tuesday, February 11th. Finally, Wells Fargo & Company increased their target price on Incyte from $58.00 to $59.00 and gave the company an "equal weight" rating in a report on Wednesday, April 30th. 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 stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $73.53.

Incyte Company 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.

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