Inceptionr LLC Takes $844,000 Position in Incyte Co. (NASDAQ:INCY)

Inceptionr LLC bought a new stake in shares of Incyte Co. (NASDAQ:INCY) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 12,214 shares of the biopharmaceutical company’s stock, valued at approximately $844,000.

Several other institutional investors have also recently made changes to their positions in INCY. Point72 Asset Management L.P. acquired a new stake in Incyte in the 3rd quarter valued at $156,611,000. Mizuho Securities USA LLC boosted its stake in 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 purchasing an additional 1,985,726 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position 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. Los Angeles Capital Management LLC boosted its position in shares of Incyte by 94.1% during the 4th quarter. Los Angeles Capital Management LLC now owns 407,201 shares of the biopharmaceutical company’s stock valued at $28,125,000 after acquiring an additional 197,406 shares during the last quarter. Finally, Bridgewater Associates LP boosted its position in shares of Incyte by 142.8% during the 3rd quarter. Bridgewater Associates LP now owns 308,632 shares of the biopharmaceutical company’s stock valued at $20,401,000 after acquiring an additional 181,504 shares during the last quarter. 96.97% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Sheila A. Denton sold 14,069 shares of Incyte stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $74.07, for a total transaction 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. This trade represents a 35.25 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Thomas Tray sold 650 shares of Incyte stock in a transaction 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 sale, the insider now owns 23,312 shares in the company, valued at $1,615,754.72. This represents a 2.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 28,320 shares of company stock worth $2,072,849 in the last ninety days. 17.60% of the stock is owned by corporate insiders.

Incyte Stock Performance

Shares of Incyte stock opened at $70.79 on Friday. The business has a 50-day simple moving average of $71.82 and a 200-day simple moving average of $70.12. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.94 and a current ratio of 1.97. The company has a market cap of $13.70 billion, a PE ratio of 262.19, a P/E/G ratio of 0.41 and a beta of 0.76. Incyte Co. has a one year low of $50.35 and a one year high of $83.95.

Incyte (NASDAQ:INCY) last released 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 return on equity of 0.05% and a net margin of 0.77%. On average, equities research analysts forecast that Incyte Co. will post 4.86 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently issued reports on INCY. 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 report on Thursday, December 19th. StockNews.com lowered shares of Incyte from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 12th. William Blair restated an “outperform” rating on shares of Incyte in a report on Friday, December 13th. Royal Bank of Canada reduced their price objective on shares of Incyte from $70.00 to $68.00 and set a “sector perform” rating on the stock in a report on Tuesday, February 11th. Finally, JMP Securities reiterated a “market perform” rating on shares of Incyte in a research note on Tuesday, February 11th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $75.25.

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.