Incyte Co. (NASDAQ:INCY) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. cut its stake in shares of Incyte Co. (NASDAQ:INCY) by 2.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 64,087 shares of the biopharmaceutical company’s stock after selling 1,936 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Incyte were worth $4,426,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Quintet Private Bank Europe S.A. acquired a new stake in Incyte during the 4th quarter worth about $26,000. Global X Japan Co. Ltd. increased its position in shares of Incyte by 144.7% in the fourth quarter. Global X Japan Co. Ltd. now owns 389 shares of the biopharmaceutical company’s stock worth $27,000 after acquiring an additional 230 shares in the last quarter. R Squared Ltd acquired a new stake in shares of Incyte during the fourth quarter valued at approximately $30,000. Blue Trust Inc. lifted its position in shares of Incyte by 124.6% in the 4th quarter. Blue Trust Inc. now owns 593 shares of the biopharmaceutical company’s stock valued at $39,000 after acquiring an additional 329 shares in the last quarter. Finally, Bradley & Co. Private Wealth Management LLC purchased a new position in Incyte during the 4th quarter worth approximately $42,000. 96.97% of the stock is currently owned by institutional investors and hedge funds.

Incyte Stock Performance

NASDAQ:INCY opened at $58.00 on Thursday. Incyte Co. has a 52-week low of $50.35 and a 52-week high of $83.95. The company has a market cap of $11.22 billion, a price-to-earnings ratio of 214.82, a PEG ratio of 0.41 and a beta of 0.89. The firm’s 50-day moving average is $64.10 and its 200-day moving average is $69.09. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.94 and a current ratio of 1.97.

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

Insider Buying and Selling at Incyte

In related news, EVP Barry P. Flannelly sold 19,807 shares of the stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 33,567 shares of the company’s stock, valued at $2,272,150.23. This represents a 37.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Sheila A. Denton sold 14,069 shares of Incyte stock in a transaction that occurred on Wednesday, February 26th. The shares were 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 in the company, valued at $1,914,561.36. The trade was a 35.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,475 shares of company stock valued at $2,424,751 in the last 90 days. 17.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. StockNews.com lowered Incyte from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 12th. Stifel Nicolaus lifted their target price on Incyte from $75.00 to $77.00 and gave the company a “hold” rating in a research note on Monday, February 10th. Truist Financial reduced their price target on shares of Incyte from $74.00 to $72.00 and set a “hold” rating for the company in a research report on Tuesday, March 18th. Guggenheim lowered shares of Incyte from a “buy” rating to a “neutral” rating and set a $92.00 price objective on the stock. in a research note on Tuesday, March 18th. Finally, Citigroup lowered their target price on Incyte from $97.00 to $88.00 and set a “buy” rating on the stock in a research note on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $74.69.

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.