Anchor Investment Management LLC Trims Stake in Incyte Co. (NASDAQ:INCY)

Anchor Investment Management LLC reduced its stake in shares of Incyte Co. (NASDAQ:INCY) by 27.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,650 shares of the biopharmaceutical company’s stock after selling 1,000 shares during the quarter. Anchor Investment Management LLC’s holdings in Incyte were worth $161,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of INCY. Corient Private Wealth LLC raised its position in Incyte by 55.9% during the fourth quarter. Corient Private Wealth LLC now owns 8,546 shares of the biopharmaceutical company’s stock valued at $537,000 after acquiring an additional 3,065 shares in the last quarter. California State Teachers Retirement System increased its position in shares of Incyte by 5.3% in the fourth quarter. California State Teachers Retirement System now owns 302,912 shares of the biopharmaceutical company’s stock valued at $19,020,000 after buying an additional 15,297 shares in the last quarter. Belpointe Asset Management LLC purchased a new stake in shares of Incyte in the fourth quarter valued at approximately $213,000. Royal London Asset Management Ltd. increased its position in shares of Incyte by 10.2% in the fourth quarter. Royal London Asset Management Ltd. now owns 71,465 shares of the biopharmaceutical company’s stock valued at $4,487,000 after buying an additional 6,588 shares in the last quarter. Finally, First Trust Advisors LP increased its position in shares of Incyte by 13.5% in the fourth quarter. First Trust Advisors LP now owns 918,358 shares of the biopharmaceutical company’s stock valued at $57,664,000 after buying an additional 109,069 shares in the last quarter. 96.97% of the stock is currently owned by hedge funds and other institutional investors.

Incyte Stock Performance

NASDAQ INCY opened at $67.49 on Friday. The stock has a market cap of $15.15 billion, a PE ratio of 20.45, a P/E/G ratio of 5.17 and a beta of 0.73. Incyte Co. has a twelve month low of $50.27 and a twelve month high of $70.36. The stock has a fifty day simple moving average of $64.33 and a 200-day simple moving average of $60.26. The company has a current ratio of 1.92, a quick ratio of 1.84 and a debt-to-equity ratio of 0.01.

Incyte (NASDAQ:INCY) last announced its earnings results on Tuesday, July 30th. The biopharmaceutical company reported ($1.82) earnings per share for the quarter, missing the consensus estimate of $0.78 by ($2.60). The company had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.01 billion. Incyte had a return on equity of 0.75% and a net margin of 2.52%. The company’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same period last year, the business earned $0.77 EPS. Equities analysts anticipate that Incyte Co. will post 0.66 earnings per share for the current year.

Insider Buying and Selling

In other Incyte news, insider Thomas Tray sold 572 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $62.94, for a total value of $36,001.68. Following the sale, the insider now owns 24,825 shares of the company’s stock, valued at $1,562,485.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider Thomas Tray sold 572 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $62.94, for a total transaction of $36,001.68. Following the completion of the transaction, the insider now directly owns 24,825 shares in the company, valued at $1,562,485.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Vijay K. Iyengar sold 15,571 shares of the business’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $70.00, for a total transaction of $1,089,970.00. Following the sale, the executive vice president now owns 36,701 shares in the company, valued at $2,569,070. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,047 shares of company stock valued at $2,225,626. Company insiders own 17.50% of the company’s stock.

Wall Street Analyst Weigh In

INCY has been the subject of a number of recent analyst reports. Truist Financial restated a “hold” rating and issued a $74.00 price objective (down from $83.00) on shares of Incyte in a research report on Wednesday, September 18th. BMO Capital Markets restated an “underperform” rating and issued a $48.00 price objective (down from $52.00) on shares of Incyte in a research report on Tuesday, July 2nd. Wolfe Research assumed coverage on Incyte in a research report on Tuesday. They set an “outperform” rating and a $84.00 price target for the company. Guggenheim boosted their price target on Incyte from $86.00 to $92.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Incyte from $55.00 to $60.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Incyte presently has an average rating of “Hold” and an average price target of $73.83.

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.