Incyte Co. (NASDAQ:INCY) Shares Sold by Quest Partners LLC

Quest Partners LLC cut its stake in shares of Incyte Co. (NASDAQ:INCY) by 67.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,284 shares of the biopharmaceutical company’s stock after selling 4,645 shares during the quarter. Quest Partners LLC’s holdings in Incyte were worth $151,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. MFA Wealth Advisors LLC purchased a new stake in shares of Incyte in the second quarter valued at about $26,000. Innealta Capital LLC acquired a new stake in Incyte in the second quarter valued at about $32,000. Itau Unibanco Holding S.A. purchased a new stake in Incyte in the 2nd quarter valued at approximately $36,000. Deseret Mutual Benefit Administrators lifted its holdings in Incyte by 37.1% in the second quarter. Deseret Mutual Benefit Administrators now owns 606 shares of the biopharmaceutical company’s stock valued at $37,000 after acquiring an additional 164 shares during the period. Finally, Cromwell Holdings LLC boosted its position in shares of Incyte by 101.1% during the 3rd quarter. Cromwell Holdings LLC now owns 563 shares of the biopharmaceutical company’s stock worth $37,000 after purchasing an additional 283 shares in the last quarter. 96.97% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Incyte

In related news, EVP Barry P. Flannelly sold 3,680 shares of Incyte stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $79.68, for a total transaction of $293,222.40. Following the transaction, the executive vice president now owns 58,042 shares in the company, valued at approximately $4,624,786.56. The trade was a 5.96 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Thomas Tray sold 572 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $62.94, for a total value of $36,001.68. Following the completion of the sale, the insider now owns 24,825 shares of the company’s stock, valued at approximately $1,562,485.50. This represents a 2.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,702 shares of company stock valued at $856,166. Company insiders own 17.60% of the company’s stock.

Incyte Trading Up 0.9 %

NASDAQ INCY opened at $75.45 on Friday. The company has a 50-day moving average of $70.58 and a 200-day moving average of $64.99. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.87 and a quick ratio of 1.82. Incyte Co. has a 12 month low of $50.35 and a 12 month high of $83.95. The company has a market cap of $14.54 billion, a P/E ratio of 538.93, a P/E/G ratio of 8.48 and a beta of 0.71.

Incyte (NASDAQ:INCY) last posted its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.07 earnings per share for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.12). Incyte had a negative return on equity of 0.63% and a net margin of 0.80%. The company had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same period in the prior year, the business earned $0.91 EPS. The business’s revenue for the quarter was up 23.8% on a year-over-year basis. As a group, equities analysts predict that Incyte Co. will post 0.4 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Citigroup increased their price target on shares of Incyte from $92.00 to $97.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Wolfe Research started coverage on shares of Incyte in a report on Tuesday, October 1st. They issued an “outperform” rating and a $84.00 target price for the company. Truist Financial reissued a “hold” rating and set a $74.00 price target (down previously from $83.00) on shares of Incyte in a research note on Wednesday, September 18th. The Goldman Sachs Group raised their price objective on Incyte from $63.00 to $70.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Finally, Cantor Fitzgerald reiterated a “neutral” rating on shares of Incyte in a research report on Tuesday, November 19th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $77.16.

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.