Signaturefd LLC Cuts Stock Holdings in Incyte Co. (NASDAQ:INCY)

Signaturefd LLC trimmed its holdings in shares of Incyte Co. (NASDAQ:INCY) by 9.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,266 shares of the biopharmaceutical company’s stock after selling 345 shares during the period. Signaturefd LLC’s holdings in Incyte were worth $216,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in INCY. Pacer Advisors Inc. boosted its position in Incyte by 17,460.4% during the second quarter. Pacer Advisors Inc. now owns 2,692,182 shares of the biopharmaceutical company’s stock valued at $163,200,000 after buying an additional 2,676,851 shares during the period. AQR Capital Management LLC boosted its holdings in shares of Incyte by 70.5% during the second quarter. AQR Capital Management LLC now owns 2,661,758 shares of the biopharmaceutical company’s stock worth $159,905,000 after purchasing an additional 1,101,041 shares during the period. Acadian Asset Management LLC boosted its holdings in shares of Incyte by 28.0% during the second quarter. Acadian Asset Management LLC now owns 3,560,989 shares of the biopharmaceutical company’s stock worth $215,833,000 after purchasing an additional 779,243 shares during the period. Swedbank AB purchased a new stake in shares of Incyte during the first quarter worth about $37,440,000. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of Incyte by 122.1% during the second quarter. Allspring Global Investments Holdings LLC now owns 892,710 shares of the biopharmaceutical company’s stock worth $54,116,000 after purchasing an additional 490,680 shares during the period. 96.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on INCY shares. BMO Capital Markets reiterated an “underperform” rating and set a $48.00 target price (down from $52.00) on shares of Incyte in a report on Tuesday, July 2nd. Deutsche Bank Aktiengesellschaft increased their target price on shares of Incyte from $55.00 to $60.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Bank of America increased their target price on shares of Incyte from $66.00 to $68.00 and gave the stock a “neutral” rating in a report on Monday, September 16th. Truist Financial reiterated a “hold” rating and set a $74.00 target price (down from $83.00) on shares of Incyte in a report on Wednesday, September 18th. Finally, Wolfe Research initiated coverage on shares of Incyte in a report on Tuesday, October 1st. They issued an “outperform” rating and a $84.00 price objective for the company. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $73.42.

Incyte Price Performance

INCY stock opened at $65.07 on Friday. The firm has a 50 day moving average price of $65.15 and a 200-day moving average price of $61.21. Incyte Co. has a 52-week low of $50.27 and a 52-week high of $70.36. The firm has a market capitalization of $12.53 billion, a price-to-earnings ratio of 180.75, a PEG ratio of 5.31 and a beta of 0.73. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.84 and a current ratio of 1.92.

Incyte (NASDAQ:INCY) last announced its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported ($1.82) earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($2.60). Incyte had a return on equity of 0.75% and a net margin of 2.52%. The firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter in the previous year, the firm earned $0.77 earnings per share. Incyte’s revenue was up 9.3% on a year-over-year basis. Equities research analysts forecast that Incyte Co. will post 0.66 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Jonathan Elliott Dickinson sold 8,450 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $62.36, for a total value of $526,942.00. Following the completion of the transaction, the executive vice president now directly owns 36,390 shares in the company, valued at $2,269,280.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Incyte news, insider Thomas Tray sold 572 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $62.94, for a total transaction of $36,001.68. Following the completion of the sale, the insider now directly owns 24,825 shares in the company, valued at approximately $1,562,485.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jonathan Elliott Dickinson sold 8,450 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $62.36, for a total transaction of $526,942.00. Following the sale, the executive vice president now owns 36,390 shares of the company’s stock, valued at approximately $2,269,280.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 17.60% of the stock is owned by company insiders.

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.