Incyte Co. (NASDAQ:INCY) Shares Sold by E. Ohman J or Asset Management AB

E. Ohman J or Asset Management AB decreased its position in shares of Incyte Co. (NASDAQ:INCY) by 37.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 2,200 shares of the biopharmaceutical company’s stock after selling 1,300 shares during the quarter. E. Ohman J or Asset Management AB’s holdings in Incyte were worth $152,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of INCY. Orion Portfolio Solutions LLC acquired a new position in Incyte during the 3rd quarter valued at about $770,000. CWA Asset Management Group LLC acquired a new position in shares of Incyte during the fourth quarter worth approximately $1,933,000. Greenwood Capital Associates LLC bought a new position in Incyte in the 3rd quarter worth approximately $433,000. Tri Ri Asset Management Corp acquired a new stake in Incyte in the 3rd quarter valued at approximately $3,292,000. Finally, Cypress Capital Group bought a new stake in Incyte during the 3rd quarter valued at $971,000. Institutional investors own 96.97% of the company’s stock.

Insider Activity

In related news, EVP Steven H. Stein sold 12,352 shares of the company’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $72.69, for a total transaction of $897,866.88. Following the transaction, the executive vice president now directly owns 66,967 shares of the company’s stock, valued at approximately $4,867,831.23. The trade was a 15.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Vijay K. Iyengar sold 6,043 shares of the firm’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $75.38, for a total value of $455,521.34. Following the sale, the executive vice president now owns 30,658 shares of the company’s stock, valued at $2,311,000.04. The trade was a 16.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,695 shares of company stock worth $1,444,356 over the last quarter. Corporate insiders own 17.60% of the company’s stock.

Incyte Stock Down 0.4 %

Shares of NASDAQ:INCY opened at $74.95 on Friday. The firm has a 50 day simple moving average of $71.81 and a 200 day simple moving average of $69.04. Incyte Co. has a 52 week low of $50.35 and a 52 week high of $83.95. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.82 and a current ratio of 1.87. The company has a market cap of $14.44 billion, a PE ratio of 535.40, a price-to-earnings-growth ratio of 0.54 and a beta of 0.70.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on INCY shares. 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. BMO Capital Markets reissued an “underperform” rating and set a $52.00 target price (up previously from $48.00) on shares of Incyte in a research note on Wednesday, October 30th. The Goldman Sachs Group boosted their price target on shares of Incyte from $63.00 to $70.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. William Blair reiterated an “outperform” rating on shares of Incyte in a research note on Friday, December 13th. Finally, Oppenheimer upped 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. One analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $75.71.

Incyte Company 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.