Pacer Advisors Inc. cut its holdings in shares of Incyte Corporation (NASDAQ:INCY - Free Report) by 36.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,201 shares of the biopharmaceutical company's stock after selling 4,609 shares during the period. Pacer Advisors Inc.'s holdings in Incyte were worth $497,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently added to or reduced their stakes in INCY. Nissay Asset Management Corp Japan ADV boosted its holdings in shares of Incyte by 0.7% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 20,371 shares of the biopharmaceutical company's stock valued at $1,410,000 after buying an additional 150 shares during the last quarter. Bank of Nova Scotia lifted its holdings in Incyte by 0.8% during the 4th quarter. Bank of Nova Scotia now owns 21,694 shares of the biopharmaceutical company's stock valued at $1,498,000 after purchasing an additional 171 shares during the last quarter. Blackhawk Capital Partners LLC. lifted its holdings in Incyte by 4.4% during the 1st quarter. Blackhawk Capital Partners LLC. now owns 4,135 shares of the biopharmaceutical company's stock valued at $250,000 after purchasing an additional 175 shares during the last quarter. Fifth Third Bancorp lifted its holdings in Incyte by 2.0% during the 1st quarter. Fifth Third Bancorp now owns 9,103 shares of the biopharmaceutical company's stock valued at $551,000 after purchasing an additional 179 shares during the last quarter. Finally, State of Michigan Retirement System lifted its holdings in Incyte by 0.5% during the 1st quarter. State of Michigan Retirement System now owns 43,559 shares of the biopharmaceutical company's stock valued at $2,637,000 after purchasing an additional 200 shares during the last quarter. 96.97% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at Incyte
In other news, EVP Sheila A. Denton sold 599 shares of the business's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $68.61, for a total transaction of $41,097.39. Following the sale, the executive vice president directly owned 26,504 shares in the company, valued at approximately $1,818,439.44. The trade was a 2.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Barry P. Flannelly sold 1,192 shares of the business's stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $69.86, for a total value of $83,273.12. Following the sale, the executive vice president owned 37,630 shares in the company, valued at approximately $2,628,831.80. This trade represents a 3.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 56,098 shares of company stock valued at $3,836,196. 17.80% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
INCY has been the subject of several research reports. Stifel Nicolaus raised Incyte from a "hold" rating to a "buy" rating and raised their price target for the company from $75.00 to $107.00 in a report on Monday, June 16th. JPMorgan Chase & Co. cut their price target on Incyte from $68.00 to $67.00 and set a "neutral" rating for the company in a report on Monday, July 14th. Royal Bank Of Canada lifted their target price on Incyte from $68.00 to $72.00 and gave the stock a "sector perform" rating in a report on Wednesday, July 30th. UBS Group reissued a "neutral" rating and set a $68.00 target price (up previously from $62.00) on shares of Incyte in a report on Wednesday, July 30th. Finally, Barclays assumed coverage on Incyte in a report on Friday. They set an "overweight" rating and a $90.00 target price for the company. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $79.73.
Get Our Latest Research Report on Incyte
Incyte Price Performance
Incyte stock traded down $0.51 during midday trading on Tuesday, reaching $77.53. The company's stock had a trading volume of 648,820 shares, compared to its average volume of 1,875,224. The stock has a market cap of $15.14 billion, a PE ratio of 17.67, a price-to-earnings-growth ratio of 0.60 and a beta of 0.71. The company has a current ratio of 2.85, a quick ratio of 2.78 and a debt-to-equity ratio of 0.01. The business has a 50-day moving average price of $69.23 and a 200-day moving average price of $66.67. Incyte Corporation has a 52 week low of $53.56 and a 52 week high of $83.95.
Incyte Company Profile
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Free Report)
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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