Y Intercept Hong Kong Ltd Sells 18,352 Shares of Incyte Corporation (NASDAQ:INCY)

Y Intercept Hong Kong Ltd trimmed its position in Incyte Corporation (NASDAQ:INCY - Free Report) by 52.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,708 shares of the biopharmaceutical company's stock after selling 18,352 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in Incyte were worth $1,012,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in INCY. Raiffeisen Bank International AG acquired a new position in Incyte in the 4th quarter valued at $34,000. NBC Securities Inc. grew its holdings in shares of Incyte by 88,200.0% during the 1st quarter. NBC Securities Inc. now owns 883 shares of the biopharmaceutical company's stock worth $53,000 after purchasing an additional 882 shares in the last quarter. Huntington National Bank grew its holdings in shares of Incyte by 40.7% during the 4th quarter. Huntington National Bank now owns 934 shares of the biopharmaceutical company's stock worth $65,000 after purchasing an additional 270 shares in the last quarter. Intact Investment Management Inc. acquired a new stake in shares of Incyte during the 1st quarter worth $73,000. Finally, Farther Finance Advisors LLC grew its holdings in shares of Incyte by 474.1% during the 1st quarter. Farther Finance Advisors LLC now owns 1,550 shares of the biopharmaceutical company's stock worth $94,000 after purchasing an additional 1,280 shares in the last quarter. 96.97% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Wall Street Zen raised Incyte from a "buy" rating to a "strong-buy" rating in a report on Wednesday, April 30th. Royal Bank Of Canada set a $67.00 target price on Incyte and gave the stock a "sector perform" rating in a report on Monday, June 23rd. Truist Financial upped their price objective on Incyte from $72.00 to $73.00 and gave the stock a "hold" rating in a research report on Tuesday, May 27th. Stifel Nicolaus upgraded Incyte from a "hold" rating to a "buy" rating and upped their price objective for the stock from $75.00 to $107.00 in a research report on Monday, June 16th. Finally, UBS Group restated a "neutral" rating and set a $61.00 price objective on shares of Incyte in a research report on Tuesday, June 3rd. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Incyte has a consensus rating of "Hold" and a consensus target price of $74.47.

Incyte Trading Down 0.4%

NASDAQ INCY traded down $0.29 during trading hours on Friday, hitting $70.20. 1,434,800 shares of the company's stock were exchanged, compared to its average volume of 1,482,236. The company has a current ratio of 2.04, a quick ratio of 2.00 and a debt-to-equity ratio of 0.01. Incyte Corporation has a 1-year low of $53.56 and a 1-year high of $83.95. The stock has a 50-day simple moving average of $67.89 and a 200 day simple moving average of $66.61. The firm has a market cap of $13.59 billion, a price-to-earnings ratio of 219.38, a PEG ratio of 0.59 and a beta of 0.68.

Incyte (NASDAQ:INCY - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The biopharmaceutical company reported $1.16 EPS for the quarter, beating analysts' consensus estimates of $1.01 by $0.15. Incyte had a return on equity of 2.77% and a net margin of 0.48%. The firm had revenue of $1.05 billion during the quarter, compared to analysts' expectations of $996.17 million. During the same quarter last year, the firm posted $0.64 earnings per share. The company's revenue for the quarter was up 19.5% compared to the same quarter last year. On average, equities analysts forecast that Incyte Corporation will post 4.86 EPS for the current fiscal year.

Insider Buying and Selling

In other news, EVP Steven H. Stein sold 14,952 shares of the firm's stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $68.47, for a total value of $1,023,763.44. Following the transaction, the executive vice president owned 97,466 shares in the company, valued at $6,673,497.02. This trade represents a 13.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Barry P. Flannelly sold 10,903 shares of Incyte stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $68.15, for a total value of $743,039.45. Following the sale, the executive vice president owned 39,744 shares in the company, valued at $2,708,553.60. This trade represents a 21.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 56,098 shares of company stock worth $3,836,196 over the last three months. Company insiders own 17.80% of the company's stock.

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.