Xponance Inc. Sells 209 Shares of Incyte Co. (NASDAQ:INCY)

Xponance Inc. lowered its holdings in Incyte Co. (NASDAQ:INCY) by 0.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 22,939 shares of the biopharmaceutical company’s stock after selling 209 shares during the quarter. Xponance Inc.’s holdings in Incyte were worth $1,584,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Point72 Asset Management L.P. acquired a new position in Incyte in the third quarter worth $156,611,000. Charles Schwab Investment Management Inc. raised its position in shares of Incyte by 2.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,643,067 shares of the biopharmaceutical company’s stock worth $113,487,000 after acquiring an additional 33,847 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Incyte by 7.5% during the fourth quarter. Bank of New York Mellon Corp now owns 1,127,515 shares of the biopharmaceutical company’s stock worth $77,877,000 after acquiring an additional 78,827 shares during the last quarter. Candriam S.C.A. raised its position in shares of Incyte by 27.8% during the fourth quarter. Candriam S.C.A. now owns 1,034,652 shares of the biopharmaceutical company’s stock worth $71,463,000 after acquiring an additional 224,919 shares during the last quarter. Finally, Barclays PLC raised its position in shares of Incyte by 8.1% during the third quarter. Barclays PLC now owns 1,031,932 shares of the biopharmaceutical company’s stock worth $68,208,000 after acquiring an additional 77,542 shares during the last quarter. Institutional investors and hedge funds own 96.97% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on INCY shares. Stifel Nicolaus boosted their target price on Incyte from $75.00 to $77.00 and gave the stock a “hold” rating in a research report on Monday, February 10th. Truist Financial dropped their target price on Incyte from $74.00 to $72.00 and set a “hold” rating for the company in a research report on Tuesday, March 18th. JMP Securities restated a “market perform” rating on shares of Incyte in a research report on Tuesday, February 11th. Cantor Fitzgerald reiterated a “neutral” rating on shares of Incyte in a report on Friday, January 10th. Finally, UBS Group began coverage on Incyte in a report on Tuesday, December 17th. They issued a “neutral” rating and a $77.00 price objective for the company. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $75.13.

Incyte Stock Performance

Shares of NASDAQ INCY opened at $61.92 on Friday. The stock has a 50 day moving average price of $70.61 and a 200 day moving average price of $70.13. 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 1.94 and a current ratio of 1.97. The stock has a market capitalization of $11.98 billion, a PE ratio of 229.34, a price-to-earnings-growth ratio of 0.41 and a beta of 0.76.

Incyte (NASDAQ:INCY) last issued its quarterly earnings results on Monday, February 10th. The biopharmaceutical company reported $1.09 EPS 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%. Analysts predict that Incyte Co. will post 4.86 earnings per share for the current fiscal year.

Insider Activity at Incyte

In other news, EVP Steven H. Stein sold 12,352 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 66,967 shares of the company’s stock, valued at $4,867,831.23. This trade represents a 15.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Barry P. Flannelly sold 19,807 shares of the firm’s stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $67.69, for a total value of $1,340,735.83. Following the completion of the sale, the executive vice president now directly owns 33,567 shares of the company’s stock, valued at approximately $2,272,150.23. The trade was a 37.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 46,827 shares of company stock valued at $3,322,618. Insiders own 17.60% of the company’s stock.

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.