Swedbank AB Has $39.19 Million Stock Position in Incyte Co. (NASDAQ:INCY)

Swedbank AB reduced its position in Incyte Co. (NASDAQ:INCY) by 14.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 567,424 shares of the biopharmaceutical company’s stock after selling 98,722 shares during the period. Swedbank AB owned about 0.29% of Incyte worth $39,192,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Point72 Asset Management L.P. acquired a new position in Incyte during the third quarter worth $156,611,000. Mizuho Securities USA LLC boosted its stake in shares of Incyte by 13,814.7% during the 3rd quarter. Mizuho Securities USA LLC now owns 2,000,100 shares of the biopharmaceutical company’s stock worth $132,207,000 after acquiring an additional 1,985,726 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Incyte by 29.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,609,220 shares of the biopharmaceutical company’s stock valued at $106,369,000 after acquiring an additional 364,169 shares during the last quarter. Bridgewater Associates LP lifted its holdings in Incyte by 142.8% in the 3rd quarter. Bridgewater Associates LP now owns 308,632 shares of the biopharmaceutical company’s stock worth $20,401,000 after purchasing an additional 181,504 shares during the last quarter. Finally, Point72 Europe London LLP bought a new stake in Incyte during the third quarter worth approximately $5,975,000. 96.97% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Incyte

In other news, EVP Vijay K. Iyengar sold 6,043 shares of Incyte stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $75.38, for a total value of $455,521.34. Following the completion of the transaction, the executive vice president now owns 30,658 shares in the company, valued at approximately $2,311,000.04. The trade was a 16.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Thomas Tray sold 650 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $70.64, for a total value of $45,916.00. Following the sale, the insider now owns 23,962 shares in the company, valued at approximately $1,692,675.68. This trade represents a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 23,375 shares of company stock valued at $1,737,578. 17.60% of the stock is currently owned by company insiders.

Incyte Stock Up 0.1 %

Shares of INCY opened at $73.77 on Friday. The company has a quick ratio of 1.82, a current ratio of 1.87 and a debt-to-equity ratio of 0.01. The company has a 50-day moving average price of $71.71 and a two-hundred day moving average price of $68.71. The stock has a market cap of $14.21 billion, a price-to-earnings ratio of 526.97, a P/E/G ratio of 0.53 and a beta of 0.71. Incyte Co. has a 12 month low of $50.35 and a 12 month high of $83.95.

Incyte (NASDAQ:INCY) last posted its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.07 EPS for the quarter, missing the consensus estimate 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 the consensus estimate of $1.08 billion. During the same quarter last year, the business earned $0.91 EPS. Incyte’s quarterly revenue was up 23.8% compared to the same quarter last year. Equities analysts predict that Incyte Co. will post 0.39 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Incyte from $65.00 to $71.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. JMP Securities reissued a “market perform” rating on shares of Incyte in a research report on Tuesday, January 14th. William Blair reaffirmed an “outperform” rating on shares of Incyte in a research report on Friday, December 13th. StockNews.com cut Incyte from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 13th. Finally, BMO Capital Markets reaffirmed an “underperform” rating and issued a $52.00 target price (up previously from $48.00) on shares of Incyte in a report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, Incyte has an average rating of “Hold” and a consensus price target of $75.71.

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.