Great Lakes Advisors LLC Sells 720 Shares of Incyte Co. (NASDAQ:INCY)

Great Lakes Advisors LLC lowered its holdings in Incyte Co. (NASDAQ:INCY) by 12.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,102 shares of the biopharmaceutical company’s stock after selling 720 shares during the quarter. Great Lakes Advisors LLC’s holdings in Incyte were worth $352,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC raised its holdings in shares of Incyte by 161.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,275 shares of the biopharmaceutical company’s stock worth $88,000 after buying an additional 787 shares in the last quarter. Sequoia Financial Advisors LLC raised its stake in Incyte by 8.7% during the fourth quarter. Sequoia Financial Advisors LLC now owns 4,922 shares of the biopharmaceutical company’s stock worth $340,000 after acquiring an additional 395 shares in the last quarter. Inspire Advisors LLC lifted its holdings in shares of Incyte by 3.2% during the fourth quarter. Inspire Advisors LLC now owns 10,930 shares of the biopharmaceutical company’s stock valued at $755,000 after acquiring an additional 341 shares during the period. Daiwa Securities Group Inc. boosted its stake in shares of Incyte by 6.5% in the 4th quarter. Daiwa Securities Group Inc. now owns 21,993 shares of the biopharmaceutical company’s stock valued at $1,519,000 after purchasing an additional 1,344 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Incyte by 104.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 327,272 shares of the biopharmaceutical company’s stock worth $22,605,000 after purchasing an additional 166,857 shares during the last quarter. Institutional investors and hedge funds own 96.97% of the company’s stock.

Insider Buying and Selling

In other Incyte news, EVP Steven H. Stein sold 12,352 shares of the stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $72.69, for a total value of $897,866.88. Following the completion of the sale, the executive vice president now directly owns 66,967 shares in the company, valued at $4,867,831.23. This represents a 15.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Sheila A. Denton sold 14,069 shares of Incyte stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $74.07, for a total value of $1,042,090.83. Following the transaction, the executive vice president now owns 25,848 shares in the company, valued at $1,914,561.36. This trade represents a 35.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 27,020 shares of company stock valued at $1,981,882 in the last 90 days. 17.60% of the stock is owned by insiders.

Incyte Stock Performance

Shares of Incyte stock opened at $67.86 on Monday. The firm has a fifty day moving average of $71.75 and a two-hundred day moving average of $70.34. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.94 and a current ratio of 1.97. The stock has a market capitalization of $13.13 billion, a price-to-earnings ratio of 251.34, a PEG ratio of 0.41 and a beta of 0.76. Incyte Co. has a 52 week low of $50.35 and a 52 week high of $83.95.

Incyte (NASDAQ:INCY) last released its earnings results on Monday, February 10th. The biopharmaceutical company reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.57 by ($0.48). Incyte had a net margin of 0.77% and a return on equity of 0.05%. As a group, equities research analysts predict that Incyte Co. will post 4.86 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on INCY. Royal Bank of Canada decreased their price objective on shares of Incyte from $70.00 to $68.00 and set a “sector perform” rating on the stock in a research note on Tuesday, February 11th. Wells Fargo & Company raised their price target on Incyte from $68.00 to $70.00 and gave the company an “equal weight” rating in a report on Thursday, December 19th. UBS Group initiated coverage on Incyte in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $77.00 price objective on the stock. Citigroup lowered their target price on Incyte from $97.00 to $88.00 and set a “buy” rating for the company in a research note on Tuesday, February 11th. Finally, William Blair reiterated an “outperform” rating on shares of Incyte in a research report on Friday, December 13th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $75.25.

Incyte Company 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.