Swedbank AB Has $39.19 Million Stock Position in Incyte Co. (NASDAQ:INCY)

Swedbank AB reduced its position in shares of Incyte Co. (NASDAQ:INCY) by 14.8% in the 4th quarter, HoldingsChannel.com reports. The firm owned 567,424 shares of the biopharmaceutical company’s stock after selling 98,722 shares during the quarter. Swedbank AB’s holdings in Incyte were worth $39,192,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in INCY. Haverford Trust Co increased its holdings in Incyte by 1.8% in 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 during the last quarter. V Square Quantitative Management LLC increased its stake in shares of Incyte by 4.1% in 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 during the last quarter. Tectonic Advisors LLC raised its position in shares of Incyte by 1.6% in the 3rd quarter. Tectonic Advisors LLC now owns 12,390 shares of the biopharmaceutical company’s stock valued at $819,000 after acquiring an additional 190 shares during the period. 180 Wealth Advisors LLC boosted its stake in Incyte by 3.9% during the 4th quarter. 180 Wealth Advisors LLC now owns 5,231 shares of the biopharmaceutical company’s stock worth $361,000 after acquiring an additional 195 shares during the last quarter. Finally, Burney Co. grew its holdings in Incyte by 7.3% during the fourth quarter. Burney Co. now owns 3,262 shares of the biopharmaceutical company’s stock valued at $225,000 after purchasing an additional 223 shares during the period. 96.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Incyte

In other Incyte news, EVP Barry P. Flannelly sold 3,680 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $79.68, for a total value of $293,222.40. Following the transaction, the executive vice president now directly owns 58,042 shares in the company, valued at $4,624,786.56. The trade was a 5.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Vijay K. Iyengar sold 6,043 shares of the firm’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $75.38, for a total transaction of $455,521.34. Following the sale, the executive vice president now owns 30,658 shares of the company’s stock, valued at approximately $2,311,000.04. This represents a 16.47 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,375 shares of company stock worth $1,737,578. Insiders own 17.60% of the company’s stock.

Incyte Trading Up 0.1 %

NASDAQ INCY opened at $73.77 on Friday. Incyte Co. has a 12 month low of $50.35 and a 12 month high of $83.95. The company has a current ratio of 1.87, a quick ratio of 1.82 and a debt-to-equity ratio of 0.01. The stock has a 50 day moving average of $71.71 and a 200-day moving average of $68.71. The company has a market cap of $14.21 billion, a PE ratio of 526.97, a PEG ratio of 0.53 and a beta of 0.71.

Incyte (NASDAQ:INCY) last announced its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.07 EPS for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.12). The firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.08 billion. Incyte had a net margin of 0.80% and a negative return on equity of 0.63%. The business’s revenue was up 23.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.91 EPS. On average, equities research analysts anticipate that Incyte Co. will post 0.39 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

INCY has been the topic of several analyst reports. Bank of America upgraded shares of Incyte from a “neutral” rating to a “buy” rating and increased their target price for the stock from $68.00 to $90.00 in a report on Tuesday, October 29th. Oppenheimer increased their price target on Incyte from $81.00 to $82.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. The Goldman Sachs Group raised their price target on Incyte from $63.00 to $70.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. StockNews.com cut Incyte from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 13th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Incyte in a research note on Friday, January 10th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Incyte presently has a consensus rating of “Hold” and a consensus target price of $75.71.

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.