GSA Capital Partners LLP Sells 9,302 Shares of Incyte Corporation $INCY

GSA Capital Partners LLP cut its stake in Incyte Corporation (NASDAQ:INCY) by 68.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,235 shares of the biopharmaceutical company’s stock after selling 9,302 shares during the period. GSA Capital Partners LLP’s holdings in Incyte were worth $359,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of INCY. Vanguard Group Inc. raised its stake in Incyte by 0.7% in the second quarter. Vanguard Group Inc. now owns 20,135,393 shares of the biopharmaceutical company’s stock valued at $1,371,220,000 after purchasing an additional 137,570 shares in the last quarter. AQR Capital Management LLC grew its stake in Incyte by 21.8% during the second quarter. AQR Capital Management LLC now owns 8,201,455 shares of the biopharmaceutical company’s stock worth $558,519,000 after buying an additional 1,465,286 shares in the last quarter. Geode Capital Management LLC increased its holdings in Incyte by 3.3% in the 2nd quarter. Geode Capital Management LLC now owns 4,347,731 shares of the biopharmaceutical company’s stock valued at $294,899,000 after buying an additional 139,740 shares during the period. LSV Asset Management raised its position in shares of Incyte by 3.2% in the 3rd quarter. LSV Asset Management now owns 3,986,097 shares of the biopharmaceutical company’s stock valued at $338,061,000 after buying an additional 124,266 shares in the last quarter. Finally, Invesco Ltd. raised its position in shares of Incyte by 7.3% in the 2nd quarter. Invesco Ltd. now owns 3,401,018 shares of the biopharmaceutical company’s stock valued at $231,609,000 after buying an additional 232,268 shares in the last quarter. 96.97% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Incyte

In other Incyte news, EVP Michael James Morrissey sold 4,323 shares of the company’s stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $97.26, for a total value of $420,454.98. Following the completion of the transaction, the executive vice president directly owned 27,507 shares in the company, valued at approximately $2,675,330.82. This represents a 13.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Thomas Tray sold 2,774 shares of the firm’s stock in a transaction on Friday, December 19th. The shares were sold at an average price of $100.00, for a total transaction of $277,400.00. Following the transaction, the insider directly owned 22,973 shares of the company’s stock, valued at $2,297,300. The trade was a 10.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 95,225 shares of company stock valued at $9,519,745 in the last quarter. 17.80% of the stock is currently owned by corporate insiders.

Incyte Trading Up 0.1%

Shares of INCY stock opened at $100.09 on Friday. Incyte Corporation has a twelve month low of $53.56 and a twelve month high of $112.29. The stock’s fifty day simple moving average is $102.55 and its 200 day simple moving average is $95.57. The company has a quick ratio of 3.25, a current ratio of 3.32 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $19.92 billion, a P/E ratio of 15.61, a P/E/G ratio of 0.80 and a beta of 0.82.

Incyte (NASDAQ:INCY) last announced its quarterly earnings results on Tuesday, February 10th. The biopharmaceutical company reported $1.80 EPS for the quarter, missing analysts’ consensus estimates of $1.96 by ($0.16). Incyte had a net margin of 25.03% and a return on equity of 26.34%. The firm had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.35 billion. During the same period in the previous year, the business posted $1.43 earnings per share. The business’s revenue for the quarter was up 27.8% compared to the same quarter last year. As a group, sell-side analysts predict that Incyte Corporation will post 4.86 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on INCY shares. Zacks Research cut shares of Incyte from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 10th. Truist Financial set a $103.00 price target on Incyte in a research note on Wednesday, December 24th. Weiss Ratings reissued a “hold (c+)” rating on shares of Incyte in a report on Thursday, January 22nd. Royal Bank Of Canada reduced their price objective on Incyte from $95.00 to $92.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 11th. Finally, Morgan Stanley set a $102.00 target price on Incyte in a research report on Wednesday, February 11th. Nine equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $104.00.

About Incyte

Incyte Corporation is a Wilmington, Delaware–based biopharmaceutical company focused on the discovery, development and commercialization of novel therapies in oncology and inflammation. Since its founding in 2002, Incyte has grown from a small research organization into a global enterprise, advancing a portfolio of internally developed and partnered assets. The company’s research and development efforts center on small-molecule drugs and biologics that modulate critical signaling pathways implicated in cancer, autoimmune disorders and rare diseases.

The company’s flagship product is Jakafi® (ruxolitinib), a Janus kinase (JAK) inhibitor approved for the treatment of myelofibrosis and polycythemia vera.