CKW Financial Group Sells 200 Shares of Incyte Co. (NASDAQ:INCY)

CKW Financial Group lessened its stake in shares of Incyte Co. (NASDAQ:INCY) by 20.0% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 800 shares of the biopharmaceutical company’s stock after selling 200 shares during the quarter. CKW Financial Group’s holdings in Incyte were worth $54,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. Acadian Asset Management LLC boosted its holdings in Incyte by 28.0% in the second quarter. Acadian Asset Management LLC now owns 3,560,989 shares of the biopharmaceutical company’s stock valued at $215,833,000 after acquiring an additional 779,243 shares in the last quarter. LSV Asset Management boosted its stake in shares of Incyte by 0.5% during the 2nd quarter. LSV Asset Management now owns 2,769,892 shares of the biopharmaceutical company’s stock valued at $167,911,000 after purchasing an additional 15,115 shares in the last quarter. Pacer Advisors Inc. increased its position in shares of Incyte by 17,460.4% during the second quarter. Pacer Advisors Inc. now owns 2,692,182 shares of the biopharmaceutical company’s stock valued at $163,200,000 after buying an additional 2,676,851 shares during the period. AQR Capital Management LLC raised its stake in Incyte by 70.5% in the second quarter. AQR Capital Management LLC now owns 2,661,758 shares of the biopharmaceutical company’s stock worth $159,905,000 after buying an additional 1,101,041 shares in the last quarter. Finally, Mizuho Securities USA LLC boosted its position in Incyte by 13,814.7% during the 3rd quarter. Mizuho Securities USA LLC now owns 2,000,100 shares of the biopharmaceutical company’s stock valued at $132,207,000 after acquiring an additional 1,985,726 shares in the last quarter. Institutional investors own 96.97% of the company’s stock.

Insider Activity at Incyte

In other Incyte news, EVP Barry P. Flannelly sold 3,680 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $79.68, for a total transaction of $293,222.40. Following the completion of the transaction, the executive vice president now owns 58,042 shares in the company, valued at $4,624,786.56. This trade represents a 5.96 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Jonathan Elliott Dickinson sold 8,450 shares of Incyte stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $62.36, for a total value of $526,942.00. Following the completion of the sale, the executive vice president now directly owns 36,390 shares in the company, valued at approximately $2,269,280.40. The trade was a 18.84 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,702 shares of company stock valued at $856,166. Corporate insiders own 17.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on INCY. BMO Capital Markets reissued an “underperform” rating and set a $52.00 price objective (up previously from $48.00) on shares of Incyte in a research note on Wednesday, October 30th. Citigroup upped their price target on Incyte from $92.00 to $97.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Wolfe Research assumed coverage on Incyte in a research note on Tuesday, October 1st. They set an “outperform” rating and a $84.00 price objective for the company. Deutsche Bank Aktiengesellschaft raised their price target on Incyte from $55.00 to $60.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Finally, JMP Securities reiterated a “market perform” rating on shares of Incyte in a research note on Tuesday, September 17th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $77.16.

Incyte Stock Performance

Incyte stock traded down $0.17 during midday trading on Tuesday, hitting $73.35. The stock had a trading volume of 210,418 shares, compared to its average volume of 2,367,495. Incyte Co. has a 52-week low of $50.35 and a 52-week high of $83.95. The company has a market capitalization of $14.13 billion, a PE ratio of 525.18, a P/E/G ratio of 8.27 and a beta of 0.71. The firm’s fifty day moving average is $70.04 and its two-hundred day moving average is $64.69. The company has a current ratio of 1.87, a quick ratio of 1.82 and a debt-to-equity ratio of 0.01.

Incyte (NASDAQ:INCY) last posted its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.07 earnings per share for the quarter, missing the consensus estimate of $1.19 by ($0.12). The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.08 billion. Incyte had a negative return on equity of 0.63% and a net margin of 0.80%. The company’s revenue for the quarter was up 23.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.91 earnings per share. On average, research analysts forecast that Incyte Co. will post 0.4 EPS for the current year.

Incyte 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.