Incyte Co. (NASDAQ:INCY) Stock Position Lessened by Parallel Advisors LLC

Parallel Advisors LLC reduced its stake in shares of Incyte Co. (NASDAQ:INCY) by 4.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,129 shares of the biopharmaceutical company’s stock after selling 262 shares during the quarter. Parallel Advisors LLC’s holdings in Incyte were worth $354,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Quintet Private Bank Europe S.A. bought a new stake in shares of Incyte during the 4th quarter worth about $26,000. Global X Japan Co. Ltd. increased its stake in shares of Incyte by 144.7% during the fourth quarter. Global X Japan Co. Ltd. now owns 389 shares of the biopharmaceutical company’s stock valued at $27,000 after acquiring an additional 230 shares during the period. R Squared Ltd bought a new stake in Incyte during the fourth quarter worth approximately $30,000. Brooklyn Investment Group acquired a new stake in Incyte in the third quarter worth approximately $30,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Incyte during the 3rd quarter valued at $33,000. Institutional investors and hedge funds own 96.97% of the company’s stock.

Incyte Stock Up 2.2 %

Shares of Incyte stock opened at $61.92 on Friday. 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 stock has a 50-day moving average price of $70.61 and a 200 day moving average price of $70.11. The company has a market cap of $11.98 billion, a P/E ratio of 229.34, a P/E/G ratio of 0.41 and a beta of 0.76.

Incyte (NASDAQ:INCY) last posted its quarterly earnings results on Monday, February 10th. The biopharmaceutical company reported $1.09 EPS for the quarter, missing the consensus estimate of $1.57 by ($0.48). Incyte had a return on equity of 0.05% and a net margin of 0.77%. As a group, analysts expect that Incyte Co. will post 4.86 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. StockNews.com lowered Incyte from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 12th. Guggenheim lowered shares of Incyte from a “buy” rating to a “neutral” rating and set a $92.00 price objective for the company. in a research report on Tuesday. William Blair downgraded shares of Incyte from an “outperform” rating to a “market perform” rating in a report on Tuesday. Citigroup reduced their target price on shares of Incyte from $97.00 to $88.00 and set a “buy” rating for the company in a report on Tuesday, February 11th. Finally, Wells Fargo & Company upped their price target on Incyte from $68.00 to $70.00 and gave the company an “equal weight” rating in a report on Thursday, December 19th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Incyte has an average rating of “Hold” and an average target price of $75.13.

Insider Buying and Selling at Incyte

In other news, EVP Sheila A. Denton sold 599 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $69.99, for a total transaction of $41,924.01. Following the completion of the sale, the executive vice president now directly owns 25,848 shares of the company’s stock, valued at $1,809,101.52. This trade represents a 2.26 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Steven H. Stein sold 12,352 shares of Incyte 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 sale, the executive vice president now owns 66,967 shares of the company’s stock, valued at approximately $4,867,831.23. This represents a 15.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 46,827 shares of company stock valued at $3,322,618 in the last quarter. 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.