Elo Mutual Pension Insurance Co Sells 2,740 Shares of Incyte Corporation $INCY

Elo Mutual Pension Insurance Co cut its holdings in shares of Incyte Corporation (NASDAQ:INCY) by 9.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 25,640 shares of the biopharmaceutical company’s stock after selling 2,740 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Incyte were worth $1,746,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in Incyte by 0.7% in the second quarter. Vanguard Group Inc. now owns 20,135,393 shares of the biopharmaceutical company’s stock valued at $1,371,220,000 after buying an additional 137,570 shares during the period. AQR Capital Management LLC grew its holdings in Incyte by 92.3% during the 1st quarter. AQR Capital Management LLC now owns 6,736,169 shares of the biopharmaceutical company’s stock worth $405,787,000 after acquiring an additional 3,233,356 shares during the period. Geode Capital Management LLC raised its position in shares of Incyte by 3.3% during the 2nd quarter. Geode Capital Management LLC now owns 4,347,731 shares of the biopharmaceutical company’s stock valued at $294,899,000 after acquiring an additional 139,740 shares during the last quarter. LSV Asset Management lifted its stake in shares of Incyte by 6.2% in the 2nd quarter. LSV Asset Management now owns 3,861,831 shares of the biopharmaceutical company’s stock valued at $262,991,000 after purchasing an additional 223,857 shares during the period. Finally, Invesco Ltd. lifted its stake in shares of Incyte by 4.0% in the 1st quarter. Invesco Ltd. now owns 3,168,750 shares of the biopharmaceutical company’s stock valued at $191,868,000 after purchasing an additional 120,543 shares during the period. Institutional investors and hedge funds own 96.97% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Sheila A. Denton sold 598 shares of the company’s stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $101.36, for a total value of $60,613.28. Following the completion of the transaction, the executive vice president directly owned 26,569 shares of the company’s stock, valued at approximately $2,693,033.84. This represents a 2.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Lee Heeson sold 3,074 shares of Incyte stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $94.02, for a total value of $289,017.48. Following the completion of the sale, the executive vice president directly owned 29,241 shares in the company, valued at $2,749,238.82. This represents a 9.51% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 4,227 shares of company stock valued at $396,327. Company insiders own 17.80% of the company’s stock.

Incyte Trading Up 0.1%

NASDAQ:INCY opened at $105.65 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.20 and a quick ratio of 2.78. The business’s 50-day simple moving average is $93.75 and its 200-day simple moving average is $80.71. Incyte Corporation has a fifty-two week low of $53.56 and a fifty-two week high of $109.28. The stock has a market capitalization of $20.74 billion, a PE ratio of 17.70, a price-to-earnings-growth ratio of 0.70 and a beta of 0.74.

Incyte (NASDAQ:INCY) last posted its earnings results on Tuesday, October 28th. The biopharmaceutical company reported $2.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.65 by $0.61. The business had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Incyte had a return on equity of 26.56% and a net margin of 24.69%.Incyte’s revenue for the quarter was up 20.0% compared to the same quarter last year. During the same period in the prior year, the business earned $1.07 EPS. Sell-side analysts expect that Incyte Corporation will post 4.86 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on INCY shares. JPMorgan Chase & Co. upped their price objective on Incyte from $73.00 to $89.00 and gave the company a “neutral” rating in a report on Thursday, October 9th. Royal Bank Of Canada upped their price target on Incyte from $81.00 to $84.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 29th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Incyte in a research report on Wednesday, October 8th. Truist Financial restated a “hold” rating and set a $93.00 price objective (up previously from $79.00) on shares of Incyte in a report on Wednesday, October 29th. Finally, Wells Fargo & Company upped their target price on shares of Incyte from $89.00 to $97.00 and gave the company an “overweight” rating in a research note on Wednesday, October 29th. Seven equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Incyte currently has a consensus rating of “Hold” and an average target price of $93.85.

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.