Sage Private Wealth Group LLC Sells 210 Shares of Incyte Co. (NASDAQ:INCY)

Sage Private Wealth Group LLC reduced its holdings in shares of Incyte Co. (NASDAQ:INCY) by 2.4% in the 4th quarter, Holdings Channel.com reports. The fund owned 8,672 shares of the biopharmaceutical company’s stock after selling 210 shares during the period. Incyte makes up approximately 0.4% of Sage Private Wealth Group LLC’s portfolio, making the stock its 24th largest position. Sage Private Wealth Group LLC’s holdings in Incyte were worth $599,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Orion Portfolio Solutions LLC bought a new position in Incyte in the third quarter valued at $770,000. CWA Asset Management Group LLC acquired a new position in shares of Incyte during the 4th quarter worth about $1,933,000. Greenwood Capital Associates LLC bought a new position in shares of Incyte in the 3rd quarter valued at about $433,000. Tri Ri Asset Management Corp acquired a new stake in shares of Incyte in the third quarter valued at about $3,292,000. Finally, Cypress Capital Group bought a new stake in Incyte during the third quarter worth about $971,000. 96.97% of the stock is currently owned by institutional investors and hedge funds.

Incyte Stock Performance

INCY opened at $66.33 on Wednesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.87 and a quick ratio of 1.82. The business has a fifty day simple moving average of $71.69 and a 200 day simple moving average of $69.18. Incyte Co. has a 1 year low of $50.35 and a 1 year high of $83.95. The company has a market capitalization of $12.78 billion, a PE ratio of 473.82, a price-to-earnings-growth ratio of 0.53 and a beta of 0.70.

Incyte (NASDAQ:INCY) last announced its earnings results on Monday, February 10th. The biopharmaceutical company reported $1.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.48). Incyte had a net margin of 0.80% and a negative return on equity of 0.63%. Research analysts expect that Incyte Co. will post 0.35 EPS for the current year.

Insiders Place Their Bets

In related news, EVP Steven H. Stein sold 12,352 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $72.69, for a total value of $897,866.88. Following the transaction, the executive vice president now owns 66,967 shares in the company, valued at approximately $4,867,831.23. This trade represents a 15.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Thomas Tray sold 650 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $70.64, for a total value of $45,916.00. Following the completion of the transaction, the insider now directly owns 23,962 shares of the company’s stock, valued at approximately $1,692,675.68. This trade represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,695 shares of company stock worth $1,444,356 in the last quarter. 17.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. The Goldman Sachs Group raised their price target on Incyte from $63.00 to $70.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Bank of America raised shares of Incyte from a “neutral” rating to a “buy” rating and raised their target price for the company from $68.00 to $90.00 in a research note on Tuesday, October 29th. Wells Fargo & Company upped their price target on shares of Incyte from $68.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 19th. JMP Securities reissued a “market perform” rating on shares of Incyte in a research report on Tuesday. Finally, William Blair reaffirmed an “outperform” rating on shares of Incyte in a report on Friday, December 13th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Incyte presently has a consensus rating of “Hold” and an average price target of $75.59.

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.