Choreo LLC Sells 204 Shares of Incyte Co. (NASDAQ:INCY)

Choreo LLC trimmed its holdings in shares of Incyte Co. (NASDAQ:INCY) by 1.4% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 14,172 shares of the biopharmaceutical company’s stock after selling 204 shares during the quarter. Choreo LLC’s holdings in Incyte were worth $972,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Brooklyn Investment Group bought a new stake in shares of Incyte during the 3rd quarter valued at $30,000. R Squared Ltd acquired a new stake in shares of Incyte during the fourth quarter worth $30,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Incyte in the third quarter valued at about $33,000. Cromwell Holdings LLC lifted its stake in Incyte by 101.1% in the third quarter. Cromwell Holdings LLC now owns 563 shares of the biopharmaceutical company’s stock valued at $37,000 after buying an additional 283 shares during the period. Finally, Groupama Asset Managment boosted its holdings in Incyte by 11.4% during the third quarter. Groupama Asset Managment now owns 59,597 shares of the biopharmaceutical company’s stock worth $39,000 after buying an additional 6,105 shares during the last quarter. 96.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Thomas Tray sold 650 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $70.64, for a total transaction of $45,916.00. Following the transaction, the insider now owns 23,962 shares in the company, valued at approximately $1,692,675.68. This trade represents a 2.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Vijay K. Iyengar sold 6,043 shares of the business’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $75.38, for a total value of $455,521.34. Following the completion of the sale, the executive vice president now owns 30,658 shares of the company’s stock, valued at $2,311,000.04. This trade represents a 16.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,695 shares of company stock valued at $1,444,356. Company insiders own 17.60% of the company’s stock.

Incyte Trading Down 1.1 %

INCY stock opened at $74.13 on Monday. Incyte Co. has a one year low of $50.35 and a one year high of $83.95. The stock has a market cap of $14.28 billion, a price-to-earnings ratio of 529.54, a price-to-earnings-growth ratio of 0.53 and a beta of 0.70. The company has a fifty day moving average price of $71.79 and a two-hundred day moving average price of $69.16. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.87 and a quick ratio of 1.82.

Analyst Ratings Changes

INCY has been the subject of a number of recent analyst reports. Bank of America raised Incyte from a “neutral” rating to a “buy” rating and upped their price target for the company from $68.00 to $90.00 in a research note on Tuesday, October 29th. JPMorgan Chase & Co. upped their target price on shares of Incyte from $65.00 to $71.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Royal Bank of Canada reissued a “sector perform” rating and set a $70.00 price target on shares of Incyte in a research report on Thursday, January 23rd. BMO Capital Markets restated an “underperform” rating and issued a $52.00 price objective (up previously from $48.00) on shares of Incyte in a research report on Wednesday, October 30th. Finally, UBS Group initiated coverage on Incyte in a report on Tuesday, December 17th. They set a “neutral” rating and a $77.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $75.71.

About Incyte

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.