Voloridge Investment Management LLC Sells 604,528 Shares of Incyte Co. (NASDAQ:INCY)

Voloridge Investment Management LLC lowered its position in Incyte Co. (NASDAQ:INCY - Free Report) by 83.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 122,334 shares of the biopharmaceutical company's stock after selling 604,528 shares during the quarter. Voloridge Investment Management LLC owned 0.06% of Incyte worth $8,450,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Woodline Partners LP grew its position in shares of Incyte by 0.7% during the 4th quarter. Woodline Partners LP now owns 800,088 shares of the biopharmaceutical company's stock valued at $55,262,000 after buying an additional 5,315 shares during the last quarter. iSAM Funds UK Ltd bought a new position in shares of Incyte in the fourth quarter valued at approximately $206,000. Squarepoint Ops LLC boosted its holdings in shares of Incyte by 326.1% in the fourth quarter. Squarepoint Ops LLC now owns 108,835 shares of the biopharmaceutical company's stock valued at $7,517,000 after acquiring an additional 83,291 shares in the last quarter. Twinbeech Capital LP acquired a new stake in Incyte during the fourth quarter valued at approximately $265,000. Finally, Triglav Skladi D.O.O. acquired a new stake in Incyte during the fourth quarter valued at approximately $1,589,000. Institutional investors own 96.97% of the company's stock.

Incyte Stock Down 1.8%

Incyte stock traded down $1.22 during trading hours on Friday, hitting $64.82. The company had a trading volume of 643,995 shares, compared to its average volume of 2,288,345. The firm has a market capitalization of $12.55 billion, a P/E ratio of 239.84, a price-to-earnings-growth ratio of 0.41 and a beta of 0.68. 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 firm's fifty day moving average is $60.74 and its 200-day moving average is $67.62. Incyte Co. has a fifty-two week low of $53.56 and a fifty-two week high of $83.95.

Incyte (NASDAQ:INCY - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The biopharmaceutical company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.15. Incyte had a net margin of 0.77% and a return on equity of 0.05%. The firm had revenue of $1.05 billion for the quarter, compared to analyst estimates of $996.17 million. During the same quarter in the prior year, the business earned $0.64 EPS. The company's revenue for the quarter was up 19.5% compared to the same quarter last year. On average, research analysts forecast that Incyte Co. will post 4.86 earnings per share for the current year.

Wall Street Analysts Forecast Growth

INCY has been the subject of several recent research reports. Morgan Stanley cut their target price on shares of Incyte from $69.00 to $65.00 and set an "equal weight" rating for the company in a research note on Monday, March 24th. Wells Fargo & Company increased 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. Guggenheim lowered shares of Incyte from a "buy" rating to a "neutral" rating and set a $92.00 target price for the company. in a research note on Tuesday, March 18th. William Blair lowered shares of Incyte from an "outperform" rating to a "market perform" rating in a research note on Tuesday, March 18th. Finally, Truist Financial boosted their price target on shares of Incyte from $72.00 to $73.00 and gave the company a "hold" rating in a report on Tuesday. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $73.60.

Insider Transactions at Incyte

In related news, EVP Barry P. Flannelly sold 19,807 shares of the company's stock in a transaction 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 completion of the sale, the executive vice president now directly owns 33,567 shares of the company's stock, valued at approximately $2,272,150.23. This represents a 37.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Sheila A. Denton sold 599 shares of the company's stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $69.99, for a total transaction of $41,924.01. Following the sale, the executive vice president now directly owns 25,848 shares of the company's stock, valued at approximately $1,809,101.52. This represents a 2.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. 17.80% of the stock is currently owned by company insiders.

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.