Mutual of America Capital Management LLC Sells 597 Shares of Incyte Co. (NASDAQ:INCY)

Mutual of America Capital Management LLC reduced its holdings in shares of Incyte Co. (NASDAQ:INCY) by 2.9% in the third quarter, according to its most recent filing with the SEC. The fund owned 19,729 shares of the biopharmaceutical company’s stock after selling 597 shares during the period. Mutual of America Capital Management LLC’s holdings in Incyte were worth $1,304,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Seizert Capital Partners LLC boosted its stake in shares of Incyte by 12.4% during the third quarter. Seizert Capital Partners LLC now owns 94,342 shares of the biopharmaceutical company’s stock valued at $6,236,000 after purchasing an additional 10,438 shares during the period. Mizuho Securities USA LLC grew its stake 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 acquiring an additional 1,985,726 shares in the last quarter. CIBC Asset Management Inc increased its position in shares of Incyte by 2.9% during the third quarter. CIBC Asset Management Inc now owns 25,303 shares of the biopharmaceutical company’s stock worth $1,673,000 after acquiring an additional 723 shares during the period. Tokio Marine Asset Management Co. Ltd. boosted its holdings in shares of Incyte by 21.8% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,406 shares of the biopharmaceutical company’s stock valued at $423,000 after purchasing an additional 1,145 shares during the period. Finally, Haverford Trust Co grew its stake in Incyte by 1.8% in the third quarter. Haverford Trust Co now owns 7,796 shares of the biopharmaceutical company’s stock worth $515,000 after purchasing an additional 135 shares in the last quarter. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Analysts Set New Price Targets

INCY has been the topic of a number of recent research reports. StockNews.com downgraded Incyte from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 20th. JPMorgan Chase & Co. raised their target price on shares of Incyte from $65.00 to $71.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Morgan Stanley upped their price target on shares of Incyte from $64.00 to $69.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Bank of America raised shares of Incyte from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $68.00 to $90.00 in a report on Tuesday, October 29th. Finally, Citigroup upped their target price on Incyte from $92.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $77.16.

Insider Buying and Selling at Incyte

In other Incyte news, EVP Jonathan Elliott Dickinson sold 8,450 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $62.36, for a total transaction of $526,942.00. Following the sale, the executive vice president now directly owns 36,390 shares of the company’s stock, valued at approximately $2,269,280.40. This trade represents a 18.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Thomas Tray sold 572 shares of Incyte stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $62.94, for a total value of $36,001.68. Following the transaction, the insider now owns 24,825 shares of the company’s stock, valued at $1,562,485.50. The trade was a 2.25 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,702 shares of company stock worth $856,166. Company insiders own 17.60% of the company’s stock.

Incyte Stock Performance

Shares of INCY stock opened at $73.52 on Tuesday. The business has a fifty day moving average of $70.04 and a 200 day moving average of $64.69. Incyte Co. has a 1 year low of $50.35 and a 1 year high of $83.95. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.87 and a quick ratio of 1.82. The firm has a market capitalization of $14.16 billion, a price-to-earnings ratio of 525.18, a price-to-earnings-growth ratio of 8.27 and a beta of 0.71.

Incyte (NASDAQ:INCY) last announced its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.19 by ($0.12). The firm had revenue of $1.14 billion during the quarter, compared to analysts’ expectations 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 business earned $0.91 earnings per share. As a group, research analysts expect that Incyte Co. will post 0.4 earnings per share for the current year.

About Incyte

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.