Incyte Co. (NASDAQ:INCY) Shares Sold by Sentry Investment Management LLC

Sentry Investment Management LLC cut its holdings in Incyte Co. (NASDAQ:INCY) by 39.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 562 shares of the biopharmaceutical company’s stock after selling 370 shares during the period. Sentry Investment Management LLC’s holdings in Incyte were worth $37,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of INCY. Greenwood Capital Associates LLC bought a new position in shares of Incyte during the third quarter valued at approximately $433,000. Forum Financial Management LP bought a new position in Incyte during the 3rd quarter worth $232,000. Robeco Institutional Asset Management B.V. increased its position in Incyte by 5.9% in the third quarter. Robeco Institutional Asset Management B.V. now owns 1,265,966 shares of the biopharmaceutical company’s stock worth $83,680,000 after buying an additional 70,596 shares during the period. Integrated Advisors Network LLC bought a new stake in Incyte in the third quarter valued at $967,000. Finally, China Universal Asset Management Co. Ltd. boosted its holdings in shares of Incyte by 40.2% during the third quarter. China Universal Asset Management Co. Ltd. now owns 37,043 shares of the biopharmaceutical company’s stock valued at $2,449,000 after acquiring an additional 10,627 shares during the period. Institutional investors own 96.97% of the company’s stock.

Wall Street Analyst Weigh In

INCY has been the topic of a number of analyst reports. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Incyte in a report on Monday, September 16th. Truist Financial reiterated a “hold” rating and set a $74.00 price objective (down from $83.00) on shares of Incyte in a research report on Wednesday, September 18th. Wolfe Research started coverage on Incyte in a research note on Tuesday, October 1st. They set an “outperform” rating and a $84.00 target price on the stock. JPMorgan Chase & Co. increased their price target on Incyte from $65.00 to $71.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Finally, StockNews.com upgraded shares of Incyte from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $76.74.

Insider Activity

In other Incyte news, EVP Jonathan Elliott Dickinson sold 8,450 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $62.36, for a total transaction of $526,942.00. Following the completion of the sale, the executive vice president now directly owns 36,390 shares in the company, valued at approximately $2,269,280.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, EVP Jonathan Elliott Dickinson sold 8,450 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $62.36, for a total transaction of $526,942.00. Following the transaction, the executive vice president now directly owns 36,390 shares in the company, valued at $2,269,280.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Thomas Tray sold 572 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $62.94, for a total value of $36,001.68. Following the sale, the insider now owns 24,825 shares of the company’s stock, valued at approximately $1,562,485.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 17.60% of the stock is currently owned by corporate insiders.

Incyte Price Performance

NASDAQ INCY opened at $77.28 on Wednesday. Incyte Co. has a 1 year low of $50.35 and a 1 year high of $77.37. The stock’s 50-day moving average price is $66.49 and its two-hundred day moving average price is $62.30. The company has a market cap of $14.89 billion, a PE ratio of 552.04, a PEG ratio of 6.68 and a beta of 0.71. The company has a current ratio of 1.87, a quick ratio of 1.82 and a debt-to-equity ratio of 0.01.

Incyte (NASDAQ:INCY) last posted its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.07 EPS for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.12). Incyte had a negative return on equity of 0.63% and a net margin of 0.80%. The firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same period in the prior year, the business posted $0.91 EPS. The company’s revenue for the quarter was up 23.8% on a year-over-year basis. On average, analysts predict that Incyte Co. will post 0.52 EPS for the current year.

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.