Incyte Co. (NASDAQ:INCY) Shares Sold by Fjarde AP Fonden Fourth Swedish National Pension Fund

Fjarde AP Fonden Fourth Swedish National Pension Fund cut its holdings in Incyte Co. (NASDAQ:INCY) by 24.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 74,264 shares of the biopharmaceutical company’s stock after selling 24,600 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Incyte were worth $5,129,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of INCY. Global X Japan Co. Ltd. raised its stake in Incyte by 144.7% in the fourth quarter. Global X Japan Co. Ltd. now owns 389 shares of the biopharmaceutical company’s stock valued at $27,000 after buying an additional 230 shares in the last quarter. Brooklyn Investment Group acquired a new stake in Incyte in the third quarter valued at $30,000. R Squared Ltd acquired a new stake in Incyte in the fourth quarter valued at $30,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Incyte in the third quarter valued at $33,000. Finally, Groupama Asset Managment raised its stake in Incyte by 11.4% in the third quarter. Groupama Asset Managment now owns 59,597 shares of the biopharmaceutical company’s stock valued at $39,000 after buying an additional 6,105 shares in the last quarter. 96.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on INCY shares. Oppenheimer lifted their target price on Incyte from $81.00 to $82.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Morgan Stanley lifted their target price on Incyte from $64.00 to $69.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. William Blair reiterated an “outperform” rating on shares of Incyte in a research report on Friday, December 13th. Wells Fargo & Company lifted their target price on Incyte from $68.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 19th. Finally, JPMorgan Chase & Co. lifted their target price on Incyte from $65.00 to $71.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. One equities research 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. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $75.25.

Incyte Price Performance

Shares of INCY opened at $74.40 on Wednesday. Incyte Co. has a twelve month low of $50.35 and a twelve month high of $83.95. The stock’s 50 day moving average is $71.42 and its two-hundred day moving average is $69.70. The firm has a market capitalization of $14.40 billion, a PE ratio of 275.57, a P/E/G ratio of 0.41 and a beta of 0.70. The company has a current ratio of 1.97, a quick ratio of 1.94 and a debt-to-equity ratio of 0.01.

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 analysts’ consensus estimates of $1.57 by ($0.48). Incyte had a net margin of 0.77% and a return on equity of 0.05%. Research analysts anticipate that Incyte Co. will post 4.86 earnings per share for the current year.

Insider Buying and Selling at Incyte

In other news, insider Thomas Tray sold 650 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $70.64, for a total transaction of $45,916.00. Following the sale, the insider now owns 23,962 shares of the company’s stock, valued at $1,692,675.68. The trade was a 2.64 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Steven H. Stein sold 12,352 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $72.69, for a total value of $897,866.88. Following the sale, the executive vice president now directly owns 66,967 shares in the company, valued at $4,867,831.23. This trade represents a 15.57 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,695 shares of company stock valued at $1,444,356. 17.60% of the stock is owned by corporate insiders.

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.