Assenagon Asset Management S.A. Reduces Position in Incyte Co. (NASDAQ:INCY)

Assenagon Asset Management S.A. decreased its position in Incyte Co. (NASDAQ:INCY) by 3.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,428 shares of the biopharmaceutical company’s stock after selling 246 shares during the period. Assenagon Asset Management S.A.’s holdings in Incyte were worth $444,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in INCY. Point72 Asset Management L.P. purchased a new position in shares of Incyte in the third quarter worth about $156,611,000. Mizuho Securities USA LLC increased its holdings in Incyte by 13,814.7% in the 3rd quarter. Mizuho Securities USA LLC now owns 2,000,100 shares of the biopharmaceutical company’s stock worth $132,207,000 after buying an additional 1,985,726 shares during the period. Teachers Retirement System of The State of Kentucky raised its position in Incyte by 2,486.8% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 394,646 shares of the biopharmaceutical company’s stock worth $23,923,000 after buying an additional 379,390 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Incyte by 29.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,609,220 shares of the biopharmaceutical company’s stock valued at $106,369,000 after acquiring an additional 364,169 shares during the period. Finally, Bridgewater Associates LP boosted its holdings in shares of Incyte by 142.8% in the 3rd quarter. Bridgewater Associates LP now owns 308,632 shares of the biopharmaceutical company’s stock valued at $20,401,000 after acquiring an additional 181,504 shares during the last quarter. Institutional investors and hedge funds own 96.97% of the company’s stock.

Insiders Place Their Bets

In other Incyte news, insider Thomas Tray sold 650 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $70.64, for a total value of $45,916.00. Following the transaction, the insider now directly owns 23,962 shares in the company, valued at $1,692,675.68. The trade was a 2.64 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Vijay K. Iyengar sold 6,043 shares of the stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $75.38, for a total transaction of $455,521.34. Following the completion of the sale, the executive vice president now directly owns 30,658 shares of the company’s stock, valued at approximately $2,311,000.04. This trade represents a 16.47 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,375 shares of company stock valued at $1,737,578. Insiders own 17.60% of the company’s stock.

Incyte Stock Performance

NASDAQ:INCY opened at $72.59 on Friday. The company has a market cap of $13.98 billion, a P/E ratio of 518.54, a P/E/G ratio of 0.53 and a beta of 0.71. Incyte Co. has a twelve month low of $50.35 and a twelve month high of $83.95. The company’s 50-day moving average price is $71.69 and its 200-day moving average price is $68.43. 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 released its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.07 earnings per share for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.12). Incyte had a negative return on equity of 0.63% and a net margin of 0.80%. The business had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.08 billion. During the same period last year, the business earned $0.91 earnings per share. The company’s revenue for the quarter was up 23.8% compared to the same quarter last year. On average, sell-side analysts forecast that Incyte Co. will post 0.39 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on INCY shares. The Goldman Sachs Group raised their target price on shares of Incyte from $63.00 to $70.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Wolfe Research initiated 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. Wells Fargo & Company upped their target price on Incyte from $68.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 19th. JMP Securities reissued a “market perform” rating on shares of Incyte in a report on Tuesday, January 14th. Finally, William Blair reaffirmed an “outperform” rating on shares of Incyte in a research note on Friday, December 13th. One 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 stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $75.71.

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.