Sage Private Wealth Group LLC Sells 210 Shares of Incyte Co. (NASDAQ:INCY)

Sage Private Wealth Group LLC lowered its holdings in shares of Incyte Co. (NASDAQ:INCY) by 2.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,672 shares of the biopharmaceutical company’s stock after selling 210 shares during the quarter. Incyte comprises about 0.4% of Sage Private Wealth Group LLC’s investment portfolio, making the stock its 24th biggest position. Sage Private Wealth Group LLC’s holdings in Incyte were worth $599,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of INCY. Savant Capital LLC raised its stake in shares of Incyte by 304.8% in the 4th quarter. Savant Capital LLC now owns 52,792 shares of the biopharmaceutical company’s stock valued at $3,646,000 after acquiring an additional 39,749 shares in the last quarter. Entropy Technologies LP bought a new position in shares of Incyte in the fourth quarter valued at approximately $1,612,000. Empowered Funds LLC raised its position in shares of Incyte by 6.7% in the fourth quarter. Empowered Funds LLC now owns 23,557 shares of the biopharmaceutical company’s stock valued at $1,627,000 after purchasing an additional 1,476 shares during the period. Lecap Asset Management Ltd. acquired a new stake in shares of Incyte in the fourth quarter worth $836,000. Finally, Global X Japan Co. Ltd. boosted its holdings in shares of Incyte by 144.7% during the 4th quarter. Global X Japan Co. Ltd. now owns 389 shares of the biopharmaceutical company’s stock worth $27,000 after buying an additional 230 shares during the period. Institutional investors and hedge funds own 96.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Morgan Stanley upped their price target on shares of Incyte from $64.00 to $69.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Cantor Fitzgerald restated a “neutral” rating on shares of Incyte in a research note on Friday, January 10th. Bank of America raised Incyte from a “neutral” rating to a “buy” rating and raised their target price for the company from $68.00 to $90.00 in a report on Tuesday, October 29th. William Blair reiterated an “outperform” rating on shares of Incyte in a report on Friday, December 13th. Finally, Oppenheimer raised their price objective on shares of Incyte from $81.00 to $82.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $75.59.

Incyte Trading Down 2.9 %

INCY opened at $66.33 on Wednesday. The firm’s fifty day moving average is $71.69 and its two-hundred day moving average is $69.18. The firm has a market cap of $12.78 billion, a PE ratio of 473.82, a price-to-earnings-growth ratio of 0.53 and a beta of 0.70. Incyte Co. has a twelve month low of $50.35 and a twelve month high of $83.95. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.82 and a current ratio of 1.87.

Incyte (NASDAQ:INCY) last released its quarterly earnings data on Monday, February 10th. The biopharmaceutical company reported $1.09 EPS for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.48). Incyte had a net margin of 0.80% and a negative return on equity of 0.63%. Equities research analysts anticipate that Incyte Co. will post 0.35 EPS for the current year.

Insiders Place Their Bets

In other news, insider Thomas Tray sold 650 shares of the stock in a transaction on Friday, December 13th. The shares were sold at an average price of $70.64, for a total transaction of $45,916.00. Following the completion of the sale, the insider now owns 23,962 shares of the company’s stock, valued at $1,692,675.68. This represents a 2.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Steven H. Stein sold 12,352 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $72.69, for a total transaction of $897,866.88. Following the sale, the executive vice president now owns 66,967 shares in the company, valued at approximately $4,867,831.23. The trade was a 15.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,695 shares of company stock worth $1,444,356 over the last ninety days. 17.60% of the stock is currently owned by corporate insiders.

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.