State Treasurer State of Michigan Trims Holdings in Incyte Co. (INCY)
State Treasurer State of Michigan cut its stake in Incyte Co. (NASDAQ:INCY) by 3.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 50,600 shares of the biopharmaceutical company’s stock after selling 2,000 shares during the period. State Treasurer State of Michigan’s holdings in Incyte were worth $3,218,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors also recently modified their holdings of the company. Edge Wealth Management LLC bought a new stake in Incyte in the 4th quarter valued at $64,000. Ledyard National Bank acquired a new position in shares of Incyte in the 4th quarter valued at $80,000. NuWave Investment Management LLC raised its stake in shares of Incyte by 19,237.5% in the 3rd quarter. NuWave Investment Management LLC now owns 1,547 shares of the biopharmaceutical company’s stock valued at $107,000 after buying an additional 1,539 shares in the last quarter. Quantamental Technologies LLC acquired a new position in shares of Incyte in the 4th quarter valued at $152,000. Finally, Seven Eight Capital LP acquired a new position in shares of Incyte in the 3rd quarter valued at $202,000. 89.82% of the stock is owned by hedge funds and other institutional investors.
Shares of Incyte stock traded down $0.03 during mid-day trading on Monday, reaching $80.84. 7,431 shares of the stock were exchanged, compared to its average volume of 1,523,527. The stock has a market capitalization of $17.21 billion, a P/E ratio of 126.56, a price-to-earnings-growth ratio of 1.04 and a beta of 1.34. The company has a quick ratio of 4.01, a current ratio of 4.02 and a debt-to-equity ratio of 0.01. Incyte Co. has a fifty-two week low of $57.00 and a fifty-two week high of $96.33.
In other Incyte news, EVP Yao Wenqing sold 10,000 shares of the firm’s stock in a transaction dated Monday, January 7th. The shares were sold at an average price of $75.00, for a total value of $750,000.00. Following the completion of the sale, the executive vice president now owns 45,217 shares in the company, valued at approximately $3,391,275. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul Trower sold 9,187 shares of the firm’s stock in a transaction dated Monday, January 7th. The shares were sold at an average price of $75.00, for a total transaction of $689,025.00. Following the completion of the sale, the insider now owns 23,359 shares of the company’s stock, valued at approximately $1,751,925. The disclosure for this sale can be found here. Insiders have sold a total of 81,354 shares of company stock valued at $6,058,524 in the last quarter. 17.20% of the stock is currently owned by corporate insiders.
Incyte Company Profile
Incyte Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of proprietary therapeutics in the United States. It offers JAKAFI, a drug for the treatment of myelofibrosis and polycythemia vera cancers; and ICLUSIG, a kinase inhibitor for the treatment of chronic myeloid leukemia and philadelphia-chromosome positive acute lymphoblastic leukemia.
Recommended Story: Bollinger Bands
Want to see what other hedge funds are holding INCY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Incyte Co. (NASDAQ:INCY).
Receive News & Ratings for Incyte Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Incyte and related companies with MarketBeat.com's FREE daily email newsletter.