Incyte Co. (NASDAQ:INCY) Shares Sold by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS cut its stake in Incyte Co. (NASDAQ:INCY) by 2.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,999 shares of the biopharmaceutical company’s stock after selling 800 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Incyte were worth $2,348,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. CWA Asset Management Group LLC bought a new position in shares of Incyte during the fourth quarter worth about $1,933,000. Orion Portfolio Solutions LLC acquired a new stake in Incyte during the third quarter valued at approximately $770,000. Tri Ri Asset Management Corp bought a new position in Incyte during the 3rd quarter worth approximately $3,292,000. Bridgewater Associates LP grew its position in shares of Incyte by 142.8% in the 3rd quarter. Bridgewater Associates LP now owns 308,632 shares of the biopharmaceutical company’s stock worth $20,401,000 after acquiring an additional 181,504 shares in the last quarter. Finally, Pallas Capital Advisors LLC bought a new stake in shares of Incyte in the 4th quarter valued at approximately $1,006,000. 96.97% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Incyte

In other news, EVP Barry P. Flannelly sold 19,807 shares of the stock in a transaction 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 completion of the sale, the executive vice president now owns 33,567 shares in the company, valued at approximately $2,272,150.23. This represents a 37.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Sheila A. Denton sold 14,069 shares of Incyte stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $74.07, for a total value of $1,042,090.83. Following the completion of the transaction, the executive vice president now 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 three months, insiders sold 46,827 shares of company stock valued at $3,322,618. 17.60% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. StockNews.com cut Incyte from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 12th. JMP Securities reaffirmed a “market perform” rating on shares of Incyte in a report on Tuesday, February 11th. Citigroup dropped their price objective on shares of Incyte from $97.00 to $88.00 and set a “buy” rating on the stock in a research note on Tuesday, February 11th. Royal Bank of Canada decreased their target price on Incyte from $70.00 to $68.00 and set a “sector perform” rating for the company in a research note on Tuesday, February 11th. Finally, Wells Fargo & Company raised their price target on Incyte from $68.00 to $70.00 and gave the stock an “equal weight” rating in a report on Thursday, December 19th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $74.88.

Incyte Price Performance

Shares of NASDAQ:INCY opened at $62.78 on Tuesday. The stock’s 50 day moving average price is $70.42 and its 200 day moving average price is $70.17. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.94. The stock has a market cap of $12.15 billion, a price-to-earnings ratio of 232.53, a PEG ratio of 0.41 and a beta of 0.76. Incyte Co. has a 12 month low of $50.35 and a 12 month high of $83.95.

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

Incyte Company 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.