Corebridge Financial Inc. Sells 233 Shares of Incyte Co. (NASDAQ:INCY)

Corebridge Financial Inc. lowered its stake in Incyte Co. (NASDAQ:INCY) by 0.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 39,560 shares of the biopharmaceutical company’s stock after selling 233 shares during the period. Corebridge Financial Inc.’s holdings in Incyte were worth $2,732,000 as of its most recent SEC filing.

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

Incyte Stock Down 0.1 %

Shares of NASDAQ:INCY opened at $60.55 on Tuesday. The company has a current ratio of 1.97, a quick ratio of 1.94 and a debt-to-equity ratio of 0.01. The stock has a fifty day simple moving average of $69.31 and a two-hundred day simple moving average of $70.12. 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 $11.72 billion, a price-to-earnings ratio of 224.27, a PEG ratio of 0.41 and a beta of 0.76.

Incyte (NASDAQ:INCY) last announced its quarterly 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 return on equity of 0.05% and a net margin of 0.77%. On average, research analysts anticipate that Incyte Co. will post 4.86 earnings per share for the current fiscal year.

Analyst Ratings Changes

INCY has been the subject of a number of analyst reports. Guggenheim lowered shares of Incyte from a “buy” rating to a “neutral” rating and set a $92.00 target price for the company. in a report on Tuesday, March 18th. UBS Group started coverage on Incyte in a report on Tuesday, December 17th. They issued a “neutral” rating and a $77.00 price objective for the company. Truist Financial reduced their target price on Incyte from $74.00 to $72.00 and set a “hold” rating on the stock in a research note on Tuesday, March 18th. Royal Bank of Canada dropped their price target on Incyte from $70.00 to $68.00 and set a “sector perform” rating for the company in a research note on Tuesday, February 11th. Finally, Wells Fargo & Company boosted their price objective on shares of Incyte from $68.00 to $70.00 and gave the company an “equal weight” rating in a research report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $74.88.

Insider Transactions at Incyte

In other Incyte news, EVP Sheila A. Denton sold 14,069 shares of Incyte stock in a transaction 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 sale, the executive vice president now owns 25,848 shares of the company’s stock, valued at approximately $1,914,561.36. This trade represents a 35.25 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Barry P. Flannelly sold 19,807 shares of the company’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $67.69, for a total value of $1,340,735.83. Following the transaction, the executive vice president now directly owns 33,567 shares in the company, valued at approximately $2,272,150.23. The trade was a 37.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 46,827 shares of company stock worth $3,322,618. Corporate insiders own 17.60% of the company’s stock.

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.