Pacer Advisors Inc. Trims Stock Position in Incyte Co. (NASDAQ:INCY)

Pacer Advisors Inc. lessened its position in shares of Incyte Co. (NASDAQ:INCY) by 22.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 12,810 shares of the biopharmaceutical company’s stock after selling 3,650 shares during the quarter. Pacer Advisors Inc.’s holdings in Incyte were worth $885,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Point72 Asset Management L.P. purchased a new position in Incyte during the third quarter worth about $156,611,000. Mizuho Securities USA LLC increased its stake in shares of Incyte by 13,814.7% during the 3rd quarter. Mizuho Securities USA LLC now owns 2,000,100 shares of the biopharmaceutical company’s stock worth $132,207,000 after purchasing an additional 1,985,726 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of 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 worth $106,369,000 after purchasing an additional 364,169 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its stake in Incyte by 5.9% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,265,966 shares of the biopharmaceutical company’s stock worth $83,680,000 after acquiring an additional 70,596 shares during the period. Finally, Barclays PLC increased its stake in Incyte by 8.1% in the third quarter. Barclays PLC now owns 1,031,932 shares of the biopharmaceutical company’s stock valued at $68,208,000 after purchasing an additional 77,542 shares during the last quarter. 96.97% of the stock is owned by institutional investors and hedge funds.

Incyte Stock Performance

Shares of NASDAQ INCY opened at $73.74 on Tuesday. Incyte Co. has a one year low of $50.35 and a one year high of $83.95. The firm has a market cap of $14.21 billion, a price-to-earnings ratio of 526.75, a P/E/G ratio of 0.54 and a beta of 0.71. The stock’s fifty day moving average price is $71.83 and its two-hundred day moving average price is $68.87. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.87 and a quick ratio of 1.82.

Insider Activity at Incyte

In other Incyte news, EVP Barry P. Flannelly sold 3,680 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $79.68, for a total transaction of $293,222.40. Following the completion of the transaction, the executive vice president now owns 58,042 shares in the company, valued at approximately $4,624,786.56. This trade represents a 5.96 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Steven H. Stein sold 12,352 shares of the business’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $72.69, for a total value of $897,866.88. Following the completion of the transaction, 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 disclosure for this sale can be found here. Insiders sold a total of 23,375 shares of company stock valued at $1,737,578 over the last quarter. 17.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Cantor Fitzgerald reissued a “neutral” rating on shares of Incyte in a research report on Friday, January 10th. StockNews.com lowered Incyte from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 13th. The Goldman Sachs Group lifted their price target on Incyte from $63.00 to $70.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Bank of America upgraded shares of Incyte from a “neutral” rating to a “buy” rating and boosted their target price for the company from $68.00 to $90.00 in a research note on Tuesday, October 29th. Finally, JMP Securities reiterated a “market perform” rating on shares of Incyte in a research report on Tuesday, January 14th. 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 company. Based on data from MarketBeat, the company presently has a consensus 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.