Incyte Co. (NASDAQ:INCY) Shares Bought by Sei Investments Co.

Sei Investments Co. raised its stake in Incyte Co. (NASDAQ:INCY) by 1.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 203,178 shares of the biopharmaceutical company’s stock after acquiring an additional 3,216 shares during the quarter. Sei Investments Co. owned approximately 0.11% of Incyte worth $14,033,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in INCY. CWA Asset Management Group LLC purchased a new position in shares of Incyte during the 4th quarter valued at approximately $1,933,000. Orion Portfolio Solutions LLC acquired a new stake in shares of Incyte in the third quarter valued at about $770,000. Tri Ri Asset Management Corp acquired a new position in shares of Incyte during the 3rd quarter worth about $3,292,000. Pallas Capital Advisors LLC acquired a new position in shares of Incyte during the 4th quarter worth about $1,006,000. Finally, SG Americas Securities LLC lifted its stake in Incyte by 262.2% in the 4th quarter. SG Americas Securities LLC now owns 99,407 shares of the biopharmaceutical company’s stock valued at $6,866,000 after buying an additional 71,963 shares in the last quarter. 96.97% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on INCY shares. Stifel Nicolaus raised their target price on Incyte from $75.00 to $77.00 and gave the company a “hold” rating in a research report on Monday, February 10th. Cantor Fitzgerald restated a “neutral” rating on shares of Incyte in a report on Friday, January 10th. StockNews.com lowered shares of Incyte from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 12th. Royal Bank of Canada decreased their price target on shares of Incyte from $70.00 to $68.00 and set a “sector perform” rating on the stock in a research note on Tuesday, February 11th. Finally, Morgan Stanley dropped their price objective on shares of Incyte from $69.00 to $65.00 and set an “equal weight” rating for the company in a research note on Monday, March 24th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $74.88.

Incyte Stock Down 0.1 %

Shares of NASDAQ:INCY opened at $60.60 on Friday. The company has a market capitalization of $11.73 billion, a price-to-earnings ratio of 224.45, a PEG ratio of 0.41 and a beta of 0.76. Incyte Co. has a 12-month low of $50.35 and a 12-month high of $83.95. The business has a 50-day moving average price of $69.53 and a 200 day moving average price of $70.04. 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 posted its earnings results 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 net margin of 0.77% and a return on equity of 0.05%. Sell-side analysts expect that Incyte Co. will post 4.86 EPS for the current year.

Insider Buying and Selling

In related news, EVP Steven H. Stein sold 12,352 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $72.69, for a total transaction of $897,866.88. Following the sale, the executive vice president now directly owns 66,967 shares of the company’s stock, valued at $4,867,831.23. This represents a 15.57 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Sheila A. Denton sold 14,069 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 25,848 shares of the company’s stock, valued at $1,914,561.36. This represents a 35.25 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 46,827 shares of company stock valued at $3,322,618. Corporate insiders own 17.60% of the company’s stock.

About Incyte

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.