Tredje AP fonden Sells 14,844 Shares of Incyte Co. (NASDAQ:INCY)

Tredje AP fonden lowered its position in shares of Incyte Co. (NASDAQ:INCY) by 50.0% in the 4th quarter, Holdings Channel.com reports. The fund owned 14,845 shares of the biopharmaceutical company’s stock after selling 14,844 shares during the quarter. Tredje AP fonden’s holdings in Incyte were worth $1,025,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Quintet Private Bank Europe S.A. bought a new position in Incyte during the 4th quarter valued at about $26,000. Global X Japan Co. Ltd. grew its stake in shares of Incyte by 144.7% in the fourth quarter. Global X Japan Co. Ltd. now owns 389 shares of the biopharmaceutical company’s stock worth $27,000 after acquiring an additional 230 shares during the period. R Squared Ltd purchased a new position in shares of Incyte during the fourth quarter valued at approximately $30,000. Brooklyn Investment Group bought a new position in Incyte during the third quarter valued at approximately $30,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Incyte in the third quarter worth approximately $33,000. 96.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Thomas Tray sold 650 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $69.31, for a total value of $45,051.50. Following the sale, the insider now directly owns 23,312 shares in the company, valued at approximately $1,615,754.72. The trade was a 2.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Sheila A. Denton sold 14,069 shares of the firm’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 value of $1,042,090.83. Following the transaction, the executive vice president now owns 25,848 shares of the company’s stock, valued at $1,914,561.36. This represents a 35.25 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 27,670 shares of company stock worth $2,026,933. 17.60% of the stock is owned by insiders.

Analysts Set New Price Targets

INCY has been the subject of a number of research reports. Cantor Fitzgerald reiterated a “neutral” rating on shares of Incyte in a research note on Friday, January 10th. William Blair reiterated an “outperform” rating on shares of Incyte in a research report on Friday, December 13th. Royal Bank of Canada dropped their target price on Incyte from $70.00 to $68.00 and set a “sector perform” rating on the stock in a research report on Tuesday, February 11th. JMP Securities reaffirmed a “market perform” rating on shares of Incyte in a research report on Tuesday, February 11th. Finally, UBS Group initiated coverage on shares of Incyte in a report on Tuesday, December 17th. They issued a “neutral” rating and a $77.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $75.25.

Incyte Price Performance

NASDAQ:INCY opened at $67.86 on Friday. The stock has a market cap of $13.13 billion, a PE ratio of 251.34, a P/E/G ratio of 0.41 and a beta of 0.76. The company has a quick ratio of 1.94, a current ratio of 1.97 and a debt-to-equity ratio of 0.01. The business’s 50-day simple moving average is $71.75 and its two-hundred day simple moving average is $70.30. Incyte Co. has a 52 week low of $50.35 and a 52 week high of $83.95.

Incyte (NASDAQ:INCY) last posted its quarterly earnings results on Monday, February 10th. The biopharmaceutical company reported $1.09 EPS for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.48). Incyte had a return on equity of 0.05% and a net margin of 0.77%. As a group, analysts forecast that Incyte Co. will post 4.86 EPS for the current fiscal year.

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.