Profund Advisors LLC trimmed its holdings in shares of Incyte Corporation (NASDAQ:INCY) by 7.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 78,085 shares of the biopharmaceutical company’s stock after selling 6,037 shares during the quarter. Profund Advisors LLC’s holdings in Incyte Corporation were worth $9,832,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Incyte Corporation by 22.7% during the 1st quarter. Vanguard Group Inc. now owns 15,415,857 shares of the biopharmaceutical company’s stock worth $2,060,638,000 after purchasing an additional 2,847,907 shares during the last quarter. State Street Corp increased its position in shares of Incyte Corporation by 110.7% during the 1st quarter. State Street Corp now owns 7,581,684 shares of the biopharmaceutical company’s stock worth $1,013,437,000 after purchasing an additional 3,983,207 shares during the last quarter. FMR LLC increased its position in shares of Incyte Corporation by 8.0% during the 1st quarter. FMR LLC now owns 2,980,864 shares of the biopharmaceutical company’s stock worth $398,452,000 after purchasing an additional 219,923 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Incyte Corporation by 42.0% during the 1st quarter. Geode Capital Management LLC now owns 1,780,064 shares of the biopharmaceutical company’s stock worth $237,618,000 after purchasing an additional 526,163 shares during the last quarter. Finally, UBS Asset Management Americas Inc. increased its position in shares of Incyte Corporation by 23.9% during the 1st quarter. UBS Asset Management Americas Inc. now owns 1,477,461 shares of the biopharmaceutical company’s stock worth $197,492,000 after purchasing an additional 284,796 shares during the last quarter. 91.06% of the stock is owned by hedge funds and other institutional investors.

In other Incyte Corporation news, EVP Paula J. Swain sold 20,000 shares of the stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $140.00, for a total transaction of $2,800,000.00. Following the transaction, the executive vice president now owns 55,067 shares of the company’s stock, valued at approximately $7,709,380. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Steven H. Stein sold 9,883 shares of the stock in a transaction that occurred on Tuesday, June 20th. The stock was sold at an average price of $125.00, for a total value of $1,235,375.00. Following the transaction, the executive vice president now directly owns 18,518 shares in the company, valued at approximately $2,314,750. The disclosure for this sale can be found here. Insiders sold 54,252 shares of company stock valued at $7,206,984 in the last three months. 17.70% of the stock is currently owned by company insiders.

Incyte Corporation (NASDAQ:INCY) traded down 0.51% during midday trading on Friday, reaching $119.15. The company had a trading volume of 2,995,901 shares. The firm’s market capitalization is $24.51 billion. The firm’s 50-day moving average price is $127.40 and its 200 day moving average price is $130.21. Incyte Corporation has a 12 month low of $81.49 and a 12 month high of $153.15.

Incyte Corporation (NASDAQ:INCY) last issued its quarterly earnings results on Tuesday, August 1st. The biopharmaceutical company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). The business had revenue of $326.40 million during the quarter, compared to analysts’ expectations of $318.45 million. Incyte Corporation had a negative net margin of 11.77% and a negative return on equity of 21.57%. The company’s revenue for the quarter was up 32.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.18 EPS. Equities analysts anticipate that Incyte Corporation will post ($0.84) earnings per share for the current fiscal year.

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A number of brokerages recently issued reports on INCY. J P Morgan Chase & Co reissued a “buy” rating and set a $149.00 price objective on shares of Incyte Corporation in a research report on Thursday, August 31st. Oppenheimer Holdings, Inc. reissued a “hold” rating and set a $135.00 price objective on shares of Incyte Corporation in a research report on Thursday, August 31st. BidaskClub raised Incyte Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, June 27th. Zacks Investment Research raised Incyte Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, May 23rd. Finally, TheStreet raised Incyte Corporation from a “d+” rating to a “c” rating in a research report on Wednesday, May 24th. Eight analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $142.16.

Incyte Corporation Profile

Incyte Corporation is a biopharmaceutical company focused on the discovery, development and commercialization of therapeutics. Its portfolio includes compounds in various stages, ranging from preclinical to late-stage development, and commercialized products, such as JAKAFI (ruxolitinib) and ICLUSIG (ponatinib).

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Institutional Ownership by Quarter for Incyte Corporation (NASDAQ:INCY)

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