Atom Investors LP Sells 2,650 Shares of Incyte Co. (NASDAQ:INCY)

Atom Investors LP reduced its holdings in Incyte Co. (NASDAQ:INCY) by 36.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,691 shares of the biopharmaceutical company’s stock after selling 2,650 shares during the period. Atom Investors LP’s holdings in Incyte were worth $310,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in INCY. MFA Wealth Advisors LLC bought a new position in Incyte in the 2nd quarter worth approximately $26,000. Brooklyn Investment Group bought a new stake in shares of Incyte during the third quarter valued at approximately $30,000. Innealta Capital LLC bought a new stake in shares of Incyte during the second quarter valued at approximately $32,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Incyte during the third quarter valued at approximately $33,000. Finally, Itau Unibanco Holding S.A. bought a new stake in shares of Incyte during the second quarter valued at approximately $36,000. 96.97% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Cantor Fitzgerald restated a “neutral” rating on shares of Incyte in a research report on Tuesday, November 19th. Bank of America upgraded Incyte from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $68.00 to $90.00 in a research report on Tuesday, October 29th. Guggenheim boosted their price objective on Incyte from $86.00 to $92.00 and gave the company a “buy” rating in a research report on Monday, September 16th. Truist Financial restated a “hold” rating and set a $74.00 price objective (down from $83.00) on shares of Incyte in a research report on Wednesday, September 18th. Finally, Oppenheimer boosted their price target on Incyte from $81.00 to $82.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $77.16.

Incyte Trading Up 3.6 %

INCY stock opened at $74.62 on Thursday. The company has a market cap of $14.38 billion, a P/E ratio of 533.00, a PEG ratio of 8.44 and a beta of 0.69. Incyte Co. has a twelve month low of $50.35 and a twelve month high of $83.95. The company has a quick ratio of 1.82, a current ratio of 1.87 and a debt-to-equity ratio of 0.01. The business has a fifty day moving average of $71.34 and a 200-day moving average of $65.51.

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 analysts’ consensus estimates of $1.19 by ($0.12). The firm 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 company’s revenue was up 23.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.91 EPS. As a group, equities research analysts expect that Incyte Co. will post 0.4 EPS for the current year.

Insider Transactions at Incyte

In related news, EVP Jonathan Elliott Dickinson sold 8,450 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $62.36, for a total value of $526,942.00. Following the completion of the sale, the executive vice president now owns 36,390 shares in the company, valued at approximately $2,269,280.40. This represents a 18.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Vijay K. Iyengar sold 6,043 shares of the company’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $75.38, for a total value of $455,521.34. Following the completion of the sale, the executive vice president now owns 30,658 shares of the company’s stock, valued at $2,311,000.04. This represents a 16.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,745 shares of company stock worth $1,311,687 over the last 90 days. 17.60% of the stock is owned by insiders.

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.