Diversified Trust Co Sells 2,926 Shares of Incyte Co. (NASDAQ:INCY)

Diversified Trust Co lowered its position in Incyte Co. (NASDAQ:INCY) by 6.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 42,265 shares of the biopharmaceutical company’s stock after selling 2,926 shares during the period. Diversified Trust Co’s holdings in Incyte were worth $2,919,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Orion Portfolio Solutions LLC purchased a new position in shares of Incyte in the third quarter valued at about $770,000. CWA Asset Management Group LLC bought a new position in Incyte in the 4th quarter worth approximately $1,933,000. Greenwood Capital Associates LLC purchased a new stake in Incyte during the 3rd quarter valued at approximately $433,000. Tri Ri Asset Management Corp bought a new stake in shares of Incyte during the third quarter valued at approximately $3,292,000. Finally, Andra AP fonden lifted its holdings in shares of Incyte by 35.2% in the second quarter. Andra AP fonden now owns 247,800 shares of the biopharmaceutical company’s stock worth $15,022,000 after buying an additional 64,500 shares in the last quarter. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Insider Buying and Selling at Incyte

In related news, EVP Barry P. Flannelly sold 3,680 shares of Incyte stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $79.68, for a total value of $293,222.40. Following the completion of the sale, the executive vice president now directly owns 58,042 shares in the company, valued at $4,624,786.56. The trade was a 5.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Vijay K. Iyengar sold 6,043 shares of the stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $75.38, for a total transaction of $455,521.34. Following the transaction, the executive vice president now owns 30,658 shares in the company, valued at approximately $2,311,000.04. The trade was a 16.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,023 shares of company stock valued at $839,711 in the last three months. Company insiders own 17.60% of the company’s stock.

Incyte Trading Up 1.8 %

Shares of NASDAQ INCY opened at $73.19 on Wednesday. The business’s 50 day moving average price is $73.27 and its 200-day moving average price is $67.42. Incyte Co. has a fifty-two week low of $50.35 and a fifty-two week high of $83.95. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.82 and a current ratio of 1.87. The company has a market cap of $14.10 billion, a price-to-earnings ratio of 522.82, a PEG ratio of 7.90 and a beta of 0.71.

Incyte (NASDAQ:INCY) last released its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.07 earnings per share for the quarter, missing the consensus estimate of $1.19 by ($0.12). The business had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.08 billion. Incyte had a negative return on equity of 0.63% and a net margin of 0.80%. The firm’s revenue for the quarter was up 23.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.91 earnings per share. On average, sell-side analysts expect that Incyte Co. will post 0.4 earnings per share for the current year.

Analyst Upgrades and Downgrades

INCY has been the subject of several research analyst reports. Wells Fargo & Company raised their target price on shares of Incyte from $68.00 to $70.00 and gave the company an “equal weight” rating in a research note on Thursday, December 19th. Truist Financial reaffirmed a “hold” rating and issued a $74.00 target price (down from $83.00) on shares of Incyte in a report on Wednesday, September 18th. Morgan Stanley increased their price target on Incyte from $64.00 to $69.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. JMP Securities reaffirmed a “market perform” rating on shares of Incyte in a research note on Tuesday, September 17th. Finally, Oppenheimer increased their target price on Incyte from $81.00 to $82.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $76.29.

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.