ARK Investment Management LLC Has $11.17 Million Stock Holdings in Incyte Co. (NASDAQ:INCY)

ARK Investment Management LLC cut its position in Incyte Co. (NASDAQ:INCY) by 23.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 161,775 shares of the biopharmaceutical company’s stock after selling 49,761 shares during the quarter. ARK Investment Management LLC’s holdings in Incyte were worth $11,174,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the company. Haverford Trust Co grew its stake in shares of Incyte by 1.8% in the 3rd quarter. Haverford Trust Co now owns 7,796 shares of the biopharmaceutical company’s stock valued at $515,000 after buying an additional 135 shares during the period. Retirement Systems of Alabama lifted its position in Incyte by 0.4% in the 4th quarter. Retirement Systems of Alabama now owns 34,620 shares of the biopharmaceutical company’s stock valued at $2,391,000 after acquiring an additional 139 shares in the last quarter. Trust Point Inc. lifted its position in Incyte by 5.0% in the 4th quarter. Trust Point Inc. now owns 3,282 shares of the biopharmaceutical company’s stock valued at $227,000 after acquiring an additional 156 shares in the last quarter. Mather Group LLC. lifted its position in Incyte by 26.4% in the 4th quarter. Mather Group LLC. now owns 828 shares of the biopharmaceutical company’s stock valued at $57,000 after acquiring an additional 173 shares in the last quarter. Finally, 180 Wealth Advisors LLC lifted its position 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 in the last quarter. 96.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

INCY has been the topic of several recent research reports. The Goldman Sachs Group raised their price target on shares of Incyte from $63.00 to $70.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. raised their price target on shares of Incyte from $65.00 to $71.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. StockNews.com cut shares of Incyte from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 12th. Wells Fargo & Company raised their price target on shares of Incyte from $68.00 to $70.00 and gave the company an “equal weight” rating in a research report on Thursday, December 19th. Finally, Morgan Stanley lifted their target price on shares of Incyte from $64.00 to $69.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Incyte presently has an average rating of “Hold” and a consensus price target of $75.25.

Incyte Trading Up 0.5 %

Shares of INCY stock opened at $74.40 on Wednesday. The company has a 50 day moving average of $71.42 and a 200-day moving average of $69.70. The company has a quick ratio of 1.94, a current ratio of 1.97 and a debt-to-equity ratio of 0.01. Incyte Co. has a 12-month low of $50.35 and a 12-month high of $83.95. The firm has a market cap of $14.40 billion, a P/E ratio of 275.57, a PEG ratio of 0.41 and a beta of 0.70.

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

Insider Activity at Incyte

In related news, insider Thomas Tray sold 650 shares of Incyte stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $70.64, for a total value of $45,916.00. Following the completion of the transaction, the insider now directly owns 23,962 shares in the company, valued at approximately $1,692,675.68. The trade was a 2.64 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Steven H. Stein sold 12,352 shares of Incyte stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $72.69, for a total transaction of $897,866.88. Following the completion of the transaction, the executive vice president now owns 66,967 shares of the company’s stock, valued at $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. In the last ninety days, insiders sold 19,695 shares of company stock worth $1,444,356. Corporate 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.