80,450 Shares in Incyte Co. (NASDAQ:INCY) Acquired by Cinctive Capital Management LP

Cinctive Capital Management LP purchased a new stake in Incyte Co. (NASDAQ:INCY) during the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 80,450 shares of the biopharmaceutical company’s stock, valued at approximately $5,557,000.

Other institutional investors also recently modified their holdings of the company. Retirement Systems of Alabama lifted its stake in Incyte by 0.4% during the fourth quarter. Retirement Systems of Alabama now owns 34,620 shares of the biopharmaceutical company’s stock valued at $2,391,000 after buying an additional 139 shares in the last quarter. Trust Point Inc. boosted its stake in Incyte by 5.0% in the 4th quarter. Trust Point Inc. now owns 3,282 shares of the biopharmaceutical company’s stock worth $227,000 after purchasing an additional 156 shares during the period. Mather Group LLC. boosted its stake in Incyte by 26.4% in the 4th quarter. Mather Group LLC. now owns 828 shares of the biopharmaceutical company’s stock worth $57,000 after purchasing an additional 173 shares during the period. 180 Wealth Advisors LLC grew its position in Incyte by 3.9% during the 4th quarter. 180 Wealth Advisors LLC now owns 5,231 shares of the biopharmaceutical company’s stock worth $361,000 after purchasing an additional 195 shares in the last quarter. Finally, Catalyst Financial Partners LLC raised its stake in Incyte by 2.7% during the 4th quarter. Catalyst Financial Partners LLC now owns 7,493 shares of the biopharmaceutical company’s stock valued at $518,000 after purchasing an additional 200 shares during the period. Institutional investors own 96.97% of the company’s stock.

Insider Activity

In other Incyte news, EVP Barry P. Flannelly sold 19,807 shares of the firm’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $67.69, for a total value of $1,340,735.83. Following the sale, the executive vice president now owns 33,567 shares of the company’s stock, valued at $2,272,150.23. This trade represents a 37.11 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Sheila A. Denton sold 14,069 shares of Incyte stock in a transaction that occurred 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 directly owns 25,848 shares in the company, valued at approximately $1,914,561.36. This represents a 35.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 46,827 shares of company stock valued at $3,322,618. 17.60% of the stock is owned by insiders.

Incyte Stock Up 2.3 %

Shares of Incyte stock opened at $62.33 on Thursday. Incyte Co. has a 12-month low of $50.35 and a 12-month high of $83.95. The stock has a market capitalization of $12.06 billion, a P/E ratio of 230.86, a PEG 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 stock has a 50 day moving average price of $68.85 and a two-hundred day moving average price of $70.04.

Incyte (NASDAQ:INCY) last posted its 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 expect that Incyte Co. will post 4.86 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Royal Bank of Canada lowered their price target on Incyte from $70.00 to $68.00 and set a “sector perform” rating on the stock in a report on Tuesday, February 11th. Truist Financial dropped their target price on Incyte from $74.00 to $72.00 and set a “hold” rating on the stock in a report on Tuesday, March 18th. Wells Fargo & Company upped their price objective on shares of Incyte from $68.00 to $70.00 and gave the company an “equal weight” rating in a research note on Thursday, December 19th. StockNews.com downgraded shares of Incyte from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 12th. Finally, Morgan Stanley lowered their price target on shares of Incyte from $69.00 to $65.00 and set an “equal weight” rating on the stock in a report on Monday, March 24th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $74.88.

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.