Incyte Co. (NASDAQ:INCY) Shares Sold by CANADA LIFE ASSURANCE Co

CANADA LIFE ASSURANCE Co decreased its position in shares of Incyte Co. (NASDAQ:INCY) by 26.2% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 130,778 shares of the biopharmaceutical company’s stock after selling 46,536 shares during the period. CANADA LIFE ASSURANCE Co owned 0.07% of Incyte worth $9,030,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Retirement Systems of Alabama boosted its holdings in shares of Incyte by 0.4% during the fourth 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 last quarter. Trust Point Inc. grew its holdings 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 buying an additional 156 shares during the period. Bank of Nova Scotia increased its stake in shares of Incyte by 0.8% during the 4th quarter. Bank of Nova Scotia now owns 21,694 shares of the biopharmaceutical company’s stock valued at $1,498,000 after acquiring an additional 171 shares during the last quarter. Mather Group LLC. boosted its position in shares of Incyte by 26.4% in the fourth quarter. Mather Group LLC. now owns 828 shares of the biopharmaceutical company’s stock worth $57,000 after acquiring an additional 173 shares during the last quarter. Finally, 180 Wealth Advisors LLC grew its holdings in Incyte by 3.9% in the fourth quarter. 180 Wealth Advisors LLC now owns 5,231 shares of the biopharmaceutical company’s stock valued at $361,000 after purchasing an additional 195 shares during the period. Institutional investors and hedge funds own 96.97% of the company’s stock.

Incyte Stock Performance

Incyte stock opened at $56.80 on Tuesday. The company has a current ratio of 1.97, a quick ratio of 1.94 and a debt-to-equity ratio of 0.01. The stock has a 50 day moving average of $64.60 and a 200-day moving average of $69.25. The stock has a market cap of $10.99 billion, a P/E ratio of 210.38, a price-to-earnings-growth ratio of 0.41 and a beta of 0.89. Incyte Co. has a 52 week low of $50.35 and a 52 week high of $83.95.

Incyte (NASDAQ:INCY) last announced its quarterly earnings data 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%. On average, analysts expect that Incyte Co. will post 4.86 EPS for the current fiscal year.

Insider Activity at Incyte

In other news, EVP Sheila A. Denton sold 599 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $69.99, for a total value of $41,924.01. Following the completion of the sale, the executive vice president now directly owns 25,848 shares in the company, valued at approximately $1,809,101.52. The trade was a 2.26 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Barry P. Flannelly sold 19,807 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $67.69, for a total value of $1,340,735.83. Following the sale, the executive vice president now directly owns 33,567 shares in the company, valued at approximately $2,272,150.23. This represents a 37.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 34,475 shares of company stock valued at $2,424,751 over the last three months. 17.60% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on INCY. Morgan Stanley decreased their price target on shares of Incyte from $69.00 to $65.00 and set an “equal weight” rating on the stock in a report on Monday, March 24th. JPMorgan Chase & Co. lowered their price target on Incyte from $70.00 to $68.00 and set a “neutral” rating for the company in a research report on Monday. Guggenheim lowered Incyte from a “buy” rating to a “neutral” rating and set a $92.00 price objective on the stock. in a research note on Tuesday, March 18th. Truist Financial dropped their target price on shares of Incyte from $74.00 to $72.00 and set a “hold” rating for the company in a research report on Tuesday, March 18th. Finally, Royal Bank of Canada dropped their price objective on shares of Incyte from $70.00 to $68.00 and set a “sector perform” rating for the company in a research report on Tuesday, February 11th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Incyte presently has a consensus rating of “Hold” and an average price target of $74.69.

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.