Meeder Asset Management Inc. Raises Stock Holdings in Incyte Co. (NASDAQ:INCY)

Meeder Asset Management Inc. boosted its position in shares of Incyte Co. (NASDAQ:INCY) by 241.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 9,601 shares of the biopharmaceutical company’s stock after acquiring an additional 6,790 shares during the quarter. Meeder Asset Management Inc.’s holdings in Incyte were worth $663,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Retirement Systems of Alabama raised its holdings in Incyte by 0.4% in the 4th quarter. Retirement Systems of Alabama now owns 34,620 shares of the biopharmaceutical company’s stock worth $2,391,000 after purchasing an additional 139 shares during the period. Trust Point Inc. raised its stake in shares of Incyte by 5.0% during the 4th quarter. Trust Point Inc. now owns 3,282 shares of the biopharmaceutical company’s stock worth $227,000 after buying an additional 156 shares during the period. Mather Group LLC. lifted its position in shares of Incyte by 26.4% during the 4th quarter. Mather Group LLC. now owns 828 shares of the biopharmaceutical company’s stock valued at $57,000 after buying an additional 173 shares in the last quarter. 180 Wealth Advisors LLC grew its stake in Incyte by 3.9% in the 4th quarter. 180 Wealth Advisors LLC now owns 5,231 shares of the biopharmaceutical company’s stock valued at $361,000 after acquiring an additional 195 shares during the period. Finally, Catalyst Financial Partners LLC increased its holdings in Incyte by 2.7% in the 4th quarter. Catalyst Financial Partners LLC now owns 7,493 shares of the biopharmaceutical company’s stock worth $518,000 after acquiring an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Truist Financial dropped their target price on shares of Incyte from $74.00 to $72.00 and set a “hold” rating on the stock in a research report on Tuesday, March 18th. StockNews.com lowered Incyte from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 12th. Cantor Fitzgerald restated a “neutral” rating on shares of Incyte in a research report on Friday, January 10th. UBS Group assumed coverage on Incyte in a research report on Tuesday, December 17th. They set a “neutral” rating and a $77.00 price target for the company. Finally, William Blair lowered Incyte from an “outperform” rating to a “market perform” rating in a report on Tuesday, March 18th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $74.88.

Incyte Stock Performance

Shares of Incyte stock opened at $60.55 on Tuesday. The business’s fifty day simple moving average is $69.31 and its 200-day simple moving average is $70.12. The company has a quick ratio of 1.94, a current ratio of 1.97 and a debt-to-equity ratio of 0.01. The firm has a market cap of $11.72 billion, a PE ratio of 224.27, a price-to-earnings-growth ratio of 0.41 and a beta of 0.76. Incyte Co. has a 52 week low of $50.35 and a 52 week high of $83.95.

Incyte (NASDAQ:INCY) last announced its earnings results on Monday, February 10th. The biopharmaceutical company reported $1.09 earnings per share 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%. Equities analysts forecast that Incyte Co. will post 4.86 earnings per share for the current year.

Insider Activity at Incyte

In related news, EVP Sheila A. Denton sold 14,069 shares of Incyte stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $74.07, for a total value of $1,042,090.83. Following the completion of the transaction, the executive vice president now owns 25,848 shares in the company, valued at approximately $1,914,561.36. The trade was a 35.25 % 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, EVP Barry P. Flannelly sold 19,807 shares of the stock in a transaction that occurred on 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 owns 33,567 shares in the company, valued at approximately $2,272,150.23. This trade represents a 37.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 46,827 shares of company stock worth $3,322,618. Insiders own 17.60% of the company’s stock.

About Incyte

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.