Schonfeld Strategic Advisors LLC Has $11.45 Million Stock Position in Incyte Co. (NASDAQ:INCY)

Schonfeld Strategic Advisors LLC lowered its holdings in Incyte Co. (NASDAQ:INCY - Free Report) by 50.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 165,700 shares of the biopharmaceutical company's stock after selling 168,096 shares during the period. Schonfeld Strategic Advisors LLC owned 0.09% of Incyte worth $11,445,000 as of its most recent SEC filing.

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

Insider Activity

In other Incyte news, EVP Barry P. Flannelly sold 19,807 shares of the business'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 transaction, the executive vice president now owns 33,567 shares of the company's stock, valued at $2,272,150.23. The trade was a 37.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Sheila A. Denton sold 599 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $69.99, for a total value of $41,924.01. Following the transaction, the executive vice president now directly owns 25,848 shares in the company, valued at $1,809,101.52. The trade was a 2.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,475 shares of company stock worth $2,424,751 in the last quarter. Corporate insiders own 17.60% of the company's stock.

Incyte Trading Down 2.4 %

Shares of NASDAQ:INCY traded down $1.47 during midday trading on Tuesday, hitting $60.65. The company had a trading volume of 442,664 shares, compared to its average volume of 2,350,877. The firm has a fifty day simple moving average of $62.29 and a 200 day simple moving average of $68.86. The stock has a market cap of $11.74 billion, a price-to-earnings ratio of 225.00, a PEG ratio of 0.41 and a beta of 0.68. 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 12 month low of $52.81 and a 12 month high of $83.95.

Incyte (NASDAQ:INCY - Get Free Report) last announced its quarterly earnings results 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 0.05% and a net margin of 0.77%. The company had revenue of $1.05 billion during the quarter, compared to analysts' expectations of $996.17 million. During the same period in the prior year, the business posted $0.64 EPS. Incyte's revenue was up 19.5% on a year-over-year basis. On average, analysts predict that Incyte Co. will post 4.86 EPS for the current year.

Wall Street Analysts Forecast Growth

INCY has been the subject of several research reports. Citigroup reduced their price objective on shares of Incyte from $97.00 to $88.00 and set a "buy" rating for the company in a research report on Tuesday, February 11th. Stifel Nicolaus lifted their price target on shares of Incyte from $75.00 to $77.00 and gave the stock a "hold" rating in a research report on Monday, February 10th. Wells Fargo & Company raised their price objective on Incyte from $58.00 to $59.00 and gave the stock an "equal weight" rating in a research note on Wednesday, April 30th. JPMorgan Chase & Co. cut their target price on Incyte from $70.00 to $68.00 and set a "neutral" rating on the stock in a research report on Monday, April 21st. Finally, Truist Financial decreased their price objective on shares of Incyte from $74.00 to $72.00 and set a "hold" rating for the company in a research note on Tuesday, March 18th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target 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.