Essex Investment Management Co. LLC decreased its holdings in shares of Incyte Co. (NASDAQ:INCY) by 2.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 37,947 shares of the biopharmaceutical company’s stock after selling 1,066 shares during the period. Essex Investment Management Co. LLC’s holdings in Incyte were worth $3,594,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in INCY. Ark Investment Management LLC boosted its stake in shares of Incyte by 171.2% during the 2nd quarter. Ark Investment Management LLC now owns 3,911 shares of the biopharmaceutical company’s stock worth $492,000 after acquiring an additional 2,469 shares in the last quarter. AHL Partners LLP purchased a new stake in Incyte in the 2nd quarter valued at approximately $556,000. Janus Henderson Group PLC lifted its stake in Incyte by 4,570.1% in the 2nd quarter. Janus Henderson Group PLC now owns 1,045,363 shares of the biopharmaceutical company’s stock valued at $131,622,000 after buying an additional 1,022,979 shares in the last quarter. Gotham Asset Management LLC lifted its stake in Incyte by 37.1% in the 2nd quarter. Gotham Asset Management LLC now owns 70,454 shares of the biopharmaceutical company’s stock valued at $8,871,000 after buying an additional 19,048 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in Incyte in the 2nd quarter valued at approximately $2,292,000. Institutional investors own 90.02% of the company’s stock.
Incyte Co. (NASDAQ INCY) traded up $3.02 during mid-day trading on Tuesday, hitting $87.52. The stock had a trading volume of 1,745,100 shares, compared to its average volume of 1,784,232. Incyte Co. has a 1-year low of $80.85 and a 1-year high of $153.15. The firm has a market cap of $17,832.65, a P/E ratio of -108.78 and a beta of 0.59. The company has a current ratio of 4.82, a quick ratio of 4.81 and a debt-to-equity ratio of 0.01.
A number of equities research analysts recently issued reports on INCY shares. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Incyte in a research note on Wednesday, October 25th. BMO Capital Markets cut their price target on Incyte from $163.00 to $162.00 and set an “outperform” rating for the company in a report on Thursday, October 26th. Oppenheimer set a $135.00 price target on Incyte and gave the company a “hold” rating in a report on Tuesday, October 31st. Royal Bank of Canada cut their price target on Incyte from $136.00 to $120.00 and set a “sector perform” rating for the company in a report on Tuesday, November 21st. Finally, ValuEngine downgraded Incyte from a “hold” rating to a “sell” rating in a report on Wednesday, November 29th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $143.25.
In other Incyte news, Director Paul A. Friedman sold 28,507 shares of the company’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $105.24, for a total value of $3,000,076.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider David W. Gryska sold 6,760 shares of the company’s stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $98.87, for a total transaction of $668,361.20. Following the completion of the transaction, the insider now directly owns 20,752 shares of the company’s stock, valued at $2,051,750.24. The disclosure for this sale can be found here. Over the last quarter, insiders sold 40,963 shares of company stock valued at $4,222,953. 17.70% of the stock is owned by insiders.
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Incyte Company Profile
Incyte Corporation is a biopharmaceutical company focused on the discovery, development and commercialization of therapeutics. Its portfolio includes compounds in various stages, ranging from preclinical to late-stage development, and commercialized products, such as JAKAFI (ruxolitinib) and ICLUSIG (ponatinib).
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