AlphaQuest LLC Buys 3,735 Shares of Incyte Co. (NASDAQ:INCY)

AlphaQuest LLC raised its holdings in shares of Incyte Co. (NASDAQ:INCY) by 163.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,019 shares of the biopharmaceutical company’s stock after acquiring an additional 3,735 shares during the period. AlphaQuest LLC’s holdings in Incyte were worth $416,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of INCY. Amundi raised its holdings in shares of Incyte by 28.9% during the fourth quarter. Amundi now owns 670,350 shares of the biopharmaceutical company’s stock valued at $49,023,000 after acquiring an additional 150,431 shares in the last quarter. Andra AP fonden boosted its stake in Incyte by 7.9% during the 4th quarter. Andra AP fonden now owns 212,500 shares of the biopharmaceutical company’s stock valued at $14,677,000 after purchasing an additional 15,500 shares during the last quarter. Edgestream Partners L.P. increased its holdings in Incyte by 173.0% in the 4th quarter. Edgestream Partners L.P. now owns 61,174 shares of the biopharmaceutical company’s stock worth $4,225,000 after buying an additional 38,766 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in shares of Incyte during the fourth quarter valued at approximately $717,000. Finally, Candriam S.C.A. lifted its holdings in shares of Incyte by 27.8% during the 4th quarter. Candriam S.C.A. now owns 1,034,652 shares of the biopharmaceutical company’s stock valued at $71,463,000 after buying an additional 224,919 shares during the period. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Wall Street Analysts Forecast Growth

INCY has been the topic of a number of research reports. JMP Securities reissued a “market perform” rating on shares of Incyte in a report 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 on the stock in a research note on Tuesday, February 11th. StockNews.com downgraded shares of Incyte from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 12th. Stifel Nicolaus raised their target price on shares of Incyte from $75.00 to $77.00 and gave the company a “hold” rating in a report on Monday, February 10th. Finally, William Blair reissued an “outperform” rating on shares of Incyte in a research note on Friday, December 13th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $75.25.

Insider Activity at Incyte

In other news, EVP Steven H. Stein sold 12,352 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $72.69, for a total value of $897,866.88. Following the transaction, the executive vice president now directly owns 66,967 shares in the company, valued at approximately $4,867,831.23. This represents a 15.57 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Sheila A. Denton sold 14,069 shares of the firm’s stock in a transaction dated 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 trade represents a 35.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 27,670 shares of company stock worth $2,026,933 in the last three months. Company insiders own 17.60% of the company’s stock.

Incyte Trading Down 0.0 %

NASDAQ:INCY opened at $67.71 on Friday. The firm has a 50-day simple moving average of $71.79 and a 200-day simple moving average of $70.25. Incyte Co. has a one year low of $50.35 and a one year high of $83.95. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.94 and a current ratio of 1.97. The firm has a market cap of $13.10 billion, a P/E ratio of 250.79, a P/E/G ratio of 0.41 and a beta of 0.76.

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

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.