Tema Etfs LLC Buys Shares of 30,378 Incyte Co. (NASDAQ:INCY)

Tema Etfs LLC purchased a new position in shares of Incyte Co. (NASDAQ:INCY - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 30,378 shares of the biopharmaceutical company's stock, valued at approximately $2,098,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of INCY. Toronto Dominion Bank lifted its holdings in Incyte by 188.9% in the 4th quarter. Toronto Dominion Bank now owns 156,236 shares of the biopharmaceutical company's stock worth $10,791,000 after buying an additional 102,152 shares in the last quarter. Stempoint Capital LP lifted its holdings in Incyte by 49.5% in the 4th quarter. Stempoint Capital LP now owns 193,623 shares of the biopharmaceutical company's stock worth $13,374,000 after buying an additional 64,133 shares in the last quarter. Snowden Capital Advisors LLC lifted its holdings in Incyte by 38.7% in the 4th quarter. Snowden Capital Advisors LLC now owns 5,472 shares of the biopharmaceutical company's stock worth $378,000 after buying an additional 1,526 shares in the last quarter. Siemens Fonds Invest GmbH acquired a new position in Incyte in the 4th quarter worth $401,000. Finally, Royal Bank of Canada lifted its holdings in Incyte by 24.4% in the 4th quarter. Royal Bank of Canada now owns 209,479 shares of the biopharmaceutical company's stock worth $14,468,000 after buying an additional 41,071 shares in the last quarter. 96.97% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Sheila A. Denton sold 14,069 shares of the firm's stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $74.07, for a total value of $1,042,090.83. Following the completion of the transaction, the executive vice president now owns 25,848 shares of the company's stock, valued at approximately $1,914,561.36. This trade represents a 35.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Barry P. Flannelly sold 19,807 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 33,567 shares of the company's stock, valued at $2,272,150.23. This represents a 37.11% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,475 shares of company stock worth $2,424,751. Corporate insiders own 17.80% of the company's stock.

Incyte Price Performance

Shares of Incyte stock traded up $1.49 on Tuesday, hitting $65.30. The company had a trading volume of 2,059,096 shares, compared to its average volume of 2,320,644. The business has a 50-day simple moving average of $60.37 and a 200-day simple moving average of $68.28. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.94. The company has a market cap of $12.64 billion, a PE ratio of 241.86, a PEG ratio of 0.41 and a beta of 0.68. Incyte Co. has a 52 week low of $53.56 and a 52 week high of $83.95.

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 analysts' consensus estimates of $1.01 by $0.15. The firm had revenue of $1.05 billion during the quarter, compared to analysts' expectations of $996.17 million. Incyte had a net margin of 0.77% and a return on equity of 0.05%. The firm's revenue for the quarter was up 19.5% compared to the same quarter last year. During the same period last year, the firm posted $0.64 earnings per share. Research analysts expect that Incyte Co. will post 4.86 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley cut their target price on shares of Incyte from $69.00 to $65.00 and set an "equal weight" rating on the stock in a research note on Monday, March 24th. Guggenheim lowered shares of Incyte from a "buy" rating to a "neutral" rating and set a $92.00 target price on the stock. in a research note on Tuesday, March 18th. Wells Fargo & Company upped their target price on shares of Incyte from $58.00 to $59.00 and gave the company an "equal weight" rating in a research note on Wednesday, April 30th. StockNews.com upgraded Incyte from a "buy" rating to a "strong-buy" rating in a report on Wednesday, April 30th. Finally, Citigroup lowered their price target on Incyte from $97.00 to $88.00 and set a "buy" rating for the company in a report on Tuesday, February 11th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $73.53.

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.