CANADA LIFE ASSURANCE Co Sells 46,536 Shares of Incyte Co. (NASDAQ:INCY)

CANADA LIFE ASSURANCE Co cut its position in shares of Incyte Co. (NASDAQ:INCY - Free Report) by 26.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 130,778 shares of the biopharmaceutical company's stock after selling 46,536 shares during the quarter. CANADA LIFE ASSURANCE Co owned 0.07% of Incyte worth $9,030,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Quintet Private Bank Europe S.A. bought a new stake in shares of Incyte during the 4th quarter valued at about $26,000. Global X Japan Co. Ltd. grew its holdings in shares of Incyte by 144.7% during the fourth quarter. Global X Japan Co. Ltd. now owns 389 shares of the biopharmaceutical company's stock valued at $27,000 after purchasing an additional 230 shares during the last quarter. R Squared Ltd acquired a new stake in shares of Incyte during the 4th quarter worth approximately $30,000. Blue Trust Inc. lifted its holdings in shares of Incyte by 124.6% in the 4th quarter. Blue Trust Inc. now owns 593 shares of the biopharmaceutical company's stock worth $39,000 after purchasing an additional 329 shares during the last quarter. Finally, Bradley & Co. Private Wealth Management LLC acquired a new position in Incyte during the 4th quarter valued at approximately $42,000. Institutional investors own 96.97% of the company's stock.

Incyte Price Performance

Shares of NASDAQ INCY traded up $0.19 during mid-day trading on Friday, reaching $59.16. The company had a trading volume of 1,237,382 shares, compared to its average volume of 2,372,329. The company has a 50-day moving average price of $63.63 and a two-hundred day moving average price of $69.05. The stock has a market cap of $11.45 billion, a PE ratio of 219.12, a P/E/G ratio of 0.41 and a beta of 0.89. The company has a current ratio of 1.97, a quick ratio of 1.94 and a debt-to-equity ratio of 0.01. Incyte Co. has a 1-year low of $50.35 and a 1-year high of $83.95.

Incyte (NASDAQ:INCY - Get Free Report) last posted its quarterly earnings data on Monday, February 10th. The biopharmaceutical company reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.57 by ($0.48). Incyte had a return on equity of 0.05% and a net margin of 0.77%. On average, equities analysts anticipate that Incyte Co. will post 4.86 earnings per share for the current year.

Insider Activity at Incyte

In other news, EVP Barry P. Flannelly sold 19,807 shares of the stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $67.69, for a total value 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 $2,272,150.23. This represents a 37.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Sheila A. Denton sold 14,069 shares of the business'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 transaction of $1,042,090.83. Following the transaction, the executive vice president now directly owns 25,848 shares in the company, valued at $1,914,561.36. The trade was a 35.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 34,475 shares of company stock worth $2,424,751. 17.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

INCY has been the topic of several analyst reports. Cantor Fitzgerald reaffirmed a "neutral" rating on shares of Incyte in a research report on Friday, January 10th. JMP Securities reiterated a "market perform" rating on shares of Incyte in a research report on Tuesday, February 11th. JPMorgan Chase & Co. decreased their target price on shares of Incyte from $70.00 to $68.00 and set a "neutral" rating for the company in a research report on Monday, April 21st. Citigroup cut their price target on Incyte from $97.00 to $88.00 and set a "buy" rating on the stock in a report on Tuesday, February 11th. Finally, StockNews.com lowered Incyte from a "strong-buy" rating to a "buy" rating in a report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $74.69.

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.