Tectonic Advisors LLC Raises Stock Holdings in Incyte Co. (NASDAQ:INCY)

Tectonic Advisors LLC raised its position in shares of Incyte Co. (NASDAQ:INCY) by 1.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,390 shares of the biopharmaceutical company’s stock after acquiring an additional 190 shares during the period. Tectonic Advisors LLC’s holdings in Incyte were worth $819,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Wellington Management Group LLP increased its position in shares of Incyte by 48.8% during the 4th quarter. Wellington Management Group LLP now owns 131,649 shares of the biopharmaceutical company’s stock valued at $8,266,000 after purchasing an additional 43,160 shares during the last quarter. FORVIS Wealth Advisors LLC bought a new position in shares of Incyte during the 1st quarter valued at approximately $1,495,000. ProShare Advisors LLC increased its position in shares of Incyte by 14.4% during the 1st quarter. ProShare Advisors LLC now owns 63,086 shares of the biopharmaceutical company’s stock valued at $3,594,000 after purchasing an additional 7,925 shares during the last quarter. Kennedy Capital Management LLC bought a new position in shares of Incyte during the 1st quarter valued at approximately $463,000. Finally, Diversified Trust Co increased its position in shares of Incyte by 123.7% during the 1st quarter. Diversified Trust Co now owns 36,062 shares of the biopharmaceutical company’s stock valued at $2,054,000 after purchasing an additional 19,944 shares during the last quarter. 96.97% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Incyte

In other Incyte news, EVP Jonathan Elliott Dickinson sold 8,450 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $62.36, for a total transaction of $526,942.00. Following the sale, the executive vice president now directly owns 36,390 shares of the company’s stock, valued at $2,269,280.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Incyte news, insider Thomas Tray sold 572 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $62.94, for a total transaction of $36,001.68. Following the completion of the sale, the insider now directly owns 24,825 shares in the company, valued at $1,562,485.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jonathan Elliott Dickinson sold 8,450 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $62.36, for a total transaction of $526,942.00. Following the sale, the executive vice president now owns 36,390 shares of the company’s stock, valued at $2,269,280.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 17.60% of the stock is owned by corporate insiders.

Incyte Stock Down 0.3 %

Shares of Incyte stock opened at $65.07 on Friday. The company has a quick ratio of 1.84, a current ratio of 1.92 and a debt-to-equity ratio of 0.01. The business has a 50-day moving average price of $65.09 and a 200 day moving average price of $61.14. Incyte Co. has a fifty-two week low of $50.27 and a fifty-two week high of $70.36. The firm has a market cap of $12.53 billion, a P/E ratio of 180.75, a P/E/G ratio of 5.31 and a beta of 0.73.

Incyte (NASDAQ:INCY) last issued its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported ($1.82) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($2.60). The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.01 billion. Incyte had a return on equity of 0.75% and a net margin of 2.52%. The business’s quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.77 earnings per share. On average, sell-side analysts forecast that Incyte Co. will post 0.66 earnings per share for the current fiscal year.

Analyst Ratings Changes

INCY has been the topic of several research analyst reports. Wolfe Research initiated coverage on Incyte in a research report on Tuesday, October 1st. They issued an “outperform” rating and a $84.00 price objective on the stock. Wells Fargo & Company cut their price objective on Incyte from $63.00 to $62.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 10th. Oppenheimer cut their price objective on Incyte from $84.00 to $81.00 and set an “outperform” rating on the stock in a research report on Friday, July 26th. JPMorgan Chase & Co. upped their price objective on Incyte from $61.00 to $65.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Incyte in a research report on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $73.42.

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.