Geode Capital Management LLC Buys 103,910 Shares of Incyte Co. (NASDAQ:INCY)

Geode Capital Management LLC increased its stake in shares of Incyte Co. (NASDAQ:INCY) by 2.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,040,086 shares of the biopharmaceutical company’s stock after acquiring an additional 103,910 shares during the quarter. Geode Capital Management LLC owned approximately 2.10% of Incyte worth $278,346,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. Quintet Private Bank Europe S.A. bought a new position in shares of Incyte in the fourth quarter worth approximately $26,000. Global X Japan Co. Ltd. grew its holdings in Incyte by 144.7% in the 4th quarter. Global X Japan Co. Ltd. now owns 389 shares of the biopharmaceutical company’s stock worth $27,000 after acquiring an additional 230 shares during the last quarter. R Squared Ltd bought a new position in shares of Incyte during the fourth quarter valued at about $30,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Incyte during the third quarter valued at about $33,000. Finally, Groupama Asset Managment grew its stake in shares of Incyte by 11.4% in the third quarter. Groupama Asset Managment now owns 59,597 shares of the biopharmaceutical company’s stock worth $39,000 after purchasing an additional 6,105 shares during the last quarter. 96.97% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Sheila A. Denton sold 14,069 shares of Incyte stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $74.07, for a total value of $1,042,090.83. Following the completion of the sale, the executive vice president now directly owns 25,848 shares in the company, valued at $1,914,561.36. The trade was a 35.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Barry P. Flannelly sold 19,807 shares of the stock in a transaction 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 transaction, the executive vice president now directly owns 33,567 shares in the company, valued at $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. Insiders sold a total of 46,827 shares of company stock worth $3,322,618 in the last three months. Insiders own 17.60% of the company’s stock.

Incyte Trading Down 3.0 %

NASDAQ INCY opened at $60.58 on Friday. Incyte Co. has a 12 month low of $50.35 and a 12 month high of $83.95. The company has a current ratio of 1.97, a quick ratio of 1.94 and a debt-to-equity ratio of 0.01. The stock’s fifty day moving average price is $68.41 and its 200-day moving average price is $69.97. The stock has a market cap of $11.72 billion, a P/E ratio of 224.38, a P/E/G ratio of 0.41 and a beta of 0.89.

Incyte (NASDAQ:INCY) last announced its quarterly earnings data 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%. As a group, equities analysts forecast that Incyte Co. will post 4.86 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on INCY. Wells Fargo & Company lifted their price objective on Incyte from $68.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 19th. Guggenheim lowered shares of Incyte from a “buy” rating to a “neutral” rating and set a $92.00 price objective for the company. in a report on Tuesday, March 18th. StockNews.com lowered shares of Incyte from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 12th. Royal Bank of Canada lowered their price objective on shares of Incyte from $70.00 to $68.00 and set a “sector perform” rating for the company in a report on Tuesday, February 11th. Finally, UBS Group began coverage on Incyte in a report on Tuesday, December 17th. They set a “neutral” rating and a $77.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Incyte has an average rating of “Hold” and a consensus price target of $74.88.

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.