Dodge & Cox Has $1.03 Billion Holdings in Incyte Co. (NASDAQ:INCY)

Dodge & Cox lessened its holdings in Incyte Co. (NASDAQ:INCY) by 2.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,919,633 shares of the biopharmaceutical company’s stock after selling 356,460 shares during the period. Dodge & Cox owned about 7.74% of Incyte worth $1,030,499,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Bridgewater Associates LP increased its holdings in shares of Incyte by 117.7% in the 4th quarter. Bridgewater Associates LP now owns 671,777 shares of the biopharmaceutical company’s stock valued at $46,400,000 after purchasing an additional 363,145 shares during the period. Ontario Teachers Pension Plan Board purchased a new position in Incyte during the fourth quarter valued at approximately $899,000. Aware Super Pty Ltd as trustee of Aware Super acquired a new position in Incyte in the 4th quarter valued at approximately $4,280,000. Canada Post Corp Registered Pension Plan purchased a new stake in Incyte in the 4th quarter worth approximately $151,000. Finally, CreativeOne Wealth LLC boosted its stake in shares of Incyte by 27.5% during the 4th quarter. CreativeOne Wealth LLC now owns 8,817 shares of the biopharmaceutical company’s stock valued at $609,000 after buying an additional 1,902 shares during the period. 96.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

INCY has been the subject of a number of research reports. StockNews.com cut Incyte from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 12th. Citigroup dropped their price objective on Incyte from $97.00 to $88.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. William Blair cut shares of Incyte from an “outperform” rating to a “market perform” rating in a research note on Tuesday, March 18th. Guggenheim lowered shares of Incyte from a “buy” rating to a “neutral” rating and set a $92.00 price target on the stock. in a research note on Tuesday, March 18th. Finally, UBS Group assumed coverage on shares of Incyte in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $77.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $74.88.

Insider Activity at Incyte

In other Incyte news, EVP Sheila A. Denton sold 14,069 shares of the stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $74.07, for a total transaction of $1,042,090.83. Following the completion of the transaction, the executive vice president now directly owns 25,848 shares in the company, valued at $1,914,561.36. This represents a 35.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Barry P. Flannelly sold 19,807 shares of Incyte 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 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. Insiders have sold a total of 46,827 shares of company stock valued at $3,322,618 over the last quarter. 17.60% of the stock is owned by company insiders.

Incyte Trading Up 4.1 %

Shares of Incyte stock opened at $59.22 on Tuesday. The company has a current ratio of 1.97, a quick ratio of 1.94 and a debt-to-equity ratio of 0.01. Incyte Co. has a 1 year low of $50.35 and a 1 year high of $83.95. The company’s fifty day simple moving average is $65.87 and its 200-day simple moving average is $69.58. The company has a market cap of $11.46 billion, a price-to-earnings ratio of 219.34, a PEG ratio of 0.41 and a beta of 0.89.

Incyte (NASDAQ:INCY) last released its quarterly earnings data 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 0.77% and a return on equity of 0.05%. As a group, sell-side analysts expect that Incyte Co. will post 4.86 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.