Incyte Co. (NASDAQ:INCY) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky lowered its position in Incyte Co. (NASDAQ:INCY) by 3.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 355,558 shares of the biopharmaceutical company’s stock after selling 14,355 shares during the period. Teachers Retirement System of The State of Kentucky owned approximately 0.18% of Incyte worth $24,558,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Quintet Private Bank Europe S.A. acquired a new stake in shares of Incyte in the fourth quarter valued at approximately $26,000. Global X Japan Co. Ltd. grew its holdings in Incyte by 144.7% during the 4th quarter. Global X Japan Co. Ltd. now owns 389 shares of the biopharmaceutical company’s stock valued at $27,000 after buying an additional 230 shares during the last quarter. R Squared Ltd purchased a new position in Incyte during the fourth quarter worth $30,000. Blue Trust Inc. raised its holdings in shares of Incyte by 124.6% in the fourth quarter. Blue Trust Inc. now owns 593 shares of the biopharmaceutical company’s stock worth $39,000 after acquiring an additional 329 shares during the last quarter. Finally, Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of Incyte in the fourth quarter valued at $42,000. 96.97% of the stock is owned by hedge funds and other institutional investors.

Incyte Stock Up 0.8 %

Shares of NASDAQ INCY opened at $58.21 on Monday. The stock has a fifty day moving average price of $64.84 and a 200 day moving average price of $69.33. 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 12-month low of $50.35 and a 12-month high of $83.95. The company has a market cap of $11.27 billion, a P/E ratio of 215.60, a P/E/G ratio of 0.41 and a beta of 0.89.

Incyte (NASDAQ:INCY) last posted 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 0.77% and a return on equity of 0.05%. Research analysts anticipate that Incyte Co. will post 4.86 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently weighed in on INCY. Royal Bank of Canada cut their target price on shares of Incyte from $70.00 to $68.00 and set a “sector perform” rating for the company in a research note on Tuesday, February 11th. JMP Securities reissued a “market perform” rating on shares of Incyte in a research note on Tuesday, February 11th. Citigroup lowered their target price on shares of Incyte from $97.00 to $88.00 and set a “buy” rating for the company in a research note on Tuesday, February 11th. Guggenheim lowered 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, StockNews.com lowered Incyte from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Incyte presently has a consensus rating of “Hold” and a consensus target price of $74.88.

Insider Activity

In other news, EVP Barry P. Flannelly sold 19,807 shares of Incyte stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $67.69, for a total transaction of $1,340,735.83. Following 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Steven H. Stein sold 12,352 shares of the stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $72.69, for a total value of $897,866.88. Following the completion of the transaction, the executive vice president now directly owns 66,967 shares of the company’s stock, valued at $4,867,831.23. This represents a 15.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 46,827 shares of company stock worth $3,322,618 over the last 90 days. Company insiders own 17.60% of the company’s stock.

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.