Thomas Tray Sells 650 Shares of Incyte Co. (NASDAQ:INCY) Stock

Incyte Co. (NASDAQ:INCY) insider Thomas Tray sold 650 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $69.31, for a total transaction of $45,051.50. Following the completion of the transaction, the insider now owns 23,312 shares of the company’s stock, valued at $1,615,754.72. This trade represents a 2.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Thomas Tray also recently made the following trade(s):

• On Friday, December 13th, Thomas Tray sold 650 shares of Incyte stock. The stock was sold at an average price of $70.64, for a total value of $45,916.00.

Incyte Price Performance

Shares of NASDAQ:INCY opened at $69.40 on Wednesday. The company’s fifty day moving average is $72.29 and its two-hundred day moving average is $66.48. The company has a market cap of $13.37 billion, a P/E ratio of 495.71, a price-to-earnings-growth ratio of 8.36 and a beta of 0.69. Incyte Co. has a 12-month low of $50.35 and a 12-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.

Incyte (NASDAQ:INCY) last posted its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.07 earnings per share for the quarter, missing the consensus estimate of $1.19 by ($0.12). Incyte had a net margin of 0.80% and a negative return on equity of 0.63%. The business had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same period in the previous year, the firm posted $0.91 earnings per share. The firm’s quarterly revenue was up 23.8% on a year-over-year basis. Equities analysts expect that Incyte Co. will post 0.4 earnings per share for the current fiscal year.

Institutional Trading of Incyte

Hedge funds have recently made changes to their positions in the stock. Haverford Trust Co grew its position in Incyte by 1.8% during the third quarter. Haverford Trust Co now owns 7,796 shares of the biopharmaceutical company’s stock valued at $515,000 after purchasing an additional 135 shares in the last quarter. V Square Quantitative Management LLC grew its holdings in shares of Incyte by 4.1% during the 3rd quarter. V Square Quantitative Management LLC now owns 3,963 shares of the biopharmaceutical company’s stock valued at $262,000 after acquiring an additional 155 shares in the last quarter. Deseret Mutual Benefit Administrators increased its stake in shares of Incyte by 37.1% in the second quarter. Deseret Mutual Benefit Administrators now owns 606 shares of the biopharmaceutical company’s stock worth $37,000 after acquiring an additional 164 shares during the last quarter. Ballentine Partners LLC raised its holdings in shares of Incyte by 4.0% during the second quarter. Ballentine Partners LLC now owns 4,727 shares of the biopharmaceutical company’s stock worth $287,000 after acquiring an additional 182 shares in the last quarter. Finally, Tectonic Advisors LLC grew its stake in Incyte by 1.6% in the third quarter. Tectonic Advisors LLC now owns 12,390 shares of the biopharmaceutical company’s stock valued at $819,000 after purchasing an additional 190 shares in the last quarter. 96.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

INCY has been the topic of several research analyst reports. Guggenheim lifted their price target on Incyte from $86.00 to $92.00 and gave the company a “buy” rating in a research report on Monday, September 16th. UBS Group assumed coverage on Incyte in a report on Tuesday. They set a “neutral” rating and a $77.00 target price on the stock. Morgan Stanley upped their price target on shares of Incyte from $64.00 to $69.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. StockNews.com cut shares of Incyte from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 13th. Finally, BMO Capital Markets reissued an “underperform” rating and set a $52.00 target price (up from $48.00) on shares of Incyte 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 and nine have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $76.18.

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.