Incyte Co. (NASDAQ:INCY) Shares Sold by Fjarde AP Fonden Fourth Swedish National Pension Fund

Fjarde AP Fonden Fourth Swedish National Pension Fund cut its holdings in Incyte Co. (NASDAQ:INCY) by 24.9% in the 4th quarter, HoldingsChannel reports. The fund owned 74,264 shares of the biopharmaceutical company’s stock after selling 24,600 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Incyte were worth $5,129,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Point72 Asset Management L.P. acquired a new position in Incyte in the 3rd quarter valued at $156,611,000. Mizuho Securities USA LLC raised its holdings in Incyte by 13,814.7% in the 3rd quarter. Mizuho Securities USA LLC now owns 2,000,100 shares of the biopharmaceutical company’s stock valued at $132,207,000 after acquiring an additional 1,985,726 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Incyte by 29.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,609,220 shares of the biopharmaceutical company’s stock valued at $106,369,000 after acquiring an additional 364,169 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its holdings in Incyte by 5.9% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,265,966 shares of the biopharmaceutical company’s stock valued at $83,680,000 after acquiring an additional 70,596 shares during the last quarter. Finally, Barclays PLC raised its holdings in Incyte by 8.1% in the 3rd quarter. Barclays PLC now owns 1,031,932 shares of the biopharmaceutical company’s stock valued at $68,208,000 after acquiring an additional 77,542 shares during the last quarter. 96.97% of the stock is currently owned by institutional investors and hedge funds.

Incyte Stock Performance

NASDAQ:INCY opened at $74.40 on Wednesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.94. The firm has a 50-day moving average of $71.42 and a two-hundred day moving average of $69.70. The stock has a market cap of $14.40 billion, a P/E ratio of 275.57, a PEG ratio of 0.41 and a beta of 0.70. Incyte Co. has a 1-year low of $50.35 and a 1-year high of $83.95.

Incyte (NASDAQ:INCY) last posted its quarterly earnings data on Monday, February 10th. The biopharmaceutical company reported $1.09 earnings per share 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%. On average, research analysts expect that Incyte Co. will post 4.86 earnings per share for the current fiscal year.

Insider Buying and Selling at Incyte

In other news, 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 transaction of $897,866.88. Following the transaction, the executive vice president now owns 66,967 shares of the company’s stock, valued at approximately $4,867,831.23. This trade represents a 15.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Thomas Tray sold 650 shares of the stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $70.64, for a total transaction of $45,916.00. Following the transaction, the insider now directly owns 23,962 shares in the company, valued at $1,692,675.68. The trade was a 2.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,695 shares of company stock valued at $1,444,356 in the last ninety days. Insiders own 17.60% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on INCY. William Blair restated an “outperform” rating on shares of Incyte in a report on Friday, December 13th. Royal Bank of Canada dropped their price objective on Incyte from $70.00 to $68.00 and set a “sector perform” rating for the company in a report on Tuesday, February 11th. JMP Securities restated a “market perform” rating on shares of Incyte in a report on Tuesday, February 11th. Wells Fargo & Company upped their price objective on Incyte from $68.00 to $70.00 and gave the stock an “equal weight” rating in a report on Thursday, December 19th. Finally, Citigroup dropped their price objective on Incyte from $97.00 to $88.00 and set a “buy” rating for the company in a report on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Incyte currently has an average rating of “Hold” and an average target price of $75.25.

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.