Metis Global Partners LLC Raises Stock Holdings in Incyte Co. (NASDAQ:INCY)

Metis Global Partners LLC grew its stake in Incyte Co. (NASDAQ:INCY) by 4.8% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 7,495 shares of the biopharmaceutical company’s stock after buying an additional 345 shares during the period. Metis Global Partners LLC’s holdings in Incyte were worth $518,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. CWA Asset Management Group LLC purchased a new stake in Incyte in the fourth quarter worth about $1,933,000. Orion Portfolio Solutions LLC purchased a new stake in shares of Incyte during the third quarter worth about $770,000. Greenwood Capital Associates LLC purchased a new stake in shares of Incyte during the third quarter worth about $433,000. Tri Ri Asset Management Corp purchased a new stake in shares of Incyte during the third quarter worth about $3,292,000. Finally, Cypress Capital Group purchased a new stake in shares of Incyte during the third quarter worth about $971,000. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Incyte Price Performance

NASDAQ:INCY opened at $69.81 on Thursday. The firm has a market capitalization of $13.51 billion, a price-to-earnings ratio of 258.57, a PEG ratio of 0.41 and a beta of 0.76. Incyte Co. has a 1 year low of $50.35 and a 1 year high of $83.95. The business has a 50 day simple moving average of $71.77 and a 200-day simple moving average of $70.07. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.94.

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

Wall Street Analysts Forecast Growth

INCY has been the subject of several research analyst reports. William Blair reiterated an “outperform” rating on shares of Incyte in a research report on Friday, December 13th. Citigroup cut their target price on Incyte from $97.00 to $88.00 and set a “buy” rating for the company in a research report on Tuesday, February 11th. StockNews.com cut Incyte from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 12th. UBS Group began coverage on Incyte in a report on Tuesday, December 17th. They set a “neutral” rating and a $77.00 price target for the company. Finally, JMP Securities restated a “market perform” rating on shares of Incyte in a report on Tuesday, February 11th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $75.25.

Insider Buying and Selling

In related news, insider Thomas Tray sold 650 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $69.31, for a total transaction of $45,051.50. Following the completion of the sale, the insider now directly owns 23,312 shares of the company’s stock, valued at approximately $1,615,754.72. This trade represents a 2.71 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Sheila A. Denton sold 14,069 shares of the firm’s 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 sale, the executive vice president now directly owns 25,848 shares of the company’s stock, valued at $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. In the last three months, insiders sold 27,721 shares of company stock valued at $2,030,925. Insiders own 17.60% of the company’s stock.

Incyte Company 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.