Venturi Wealth Management LLC Cuts Stock Position in Incyte Co. (NASDAQ:INCY)

Venturi Wealth Management LLC lessened its position in Incyte Co. (NASDAQ:INCY) by 34.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 649 shares of the biopharmaceutical company’s stock after selling 339 shares during the quarter. Venturi Wealth Management LLC’s holdings in Incyte were worth $45,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in INCY. Global X Japan Co. Ltd. boosted its stake in shares of Incyte by 144.7% in the fourth quarter. Global X Japan Co. Ltd. now owns 389 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 230 shares during the period. Brooklyn Investment Group purchased a new position in shares of Incyte in the third quarter valued at approximately $30,000. R Squared Ltd purchased a new stake in shares of Incyte during the fourth quarter worth $30,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Incyte during the third quarter worth $33,000. Finally, Groupama Asset Managment increased its position in shares of Incyte by 11.4% during the third quarter. Groupama Asset Managment now owns 59,597 shares of the biopharmaceutical company’s stock worth $39,000 after acquiring an additional 6,105 shares during the period. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Analyst Ratings Changes

INCY has been the topic of a number of recent research reports. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Incyte in a research report on Friday, January 10th. Oppenheimer lifted their price objective on Incyte from $81.00 to $82.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Bank of America upgraded 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 research note on Tuesday, October 29th. William Blair reiterated an “outperform” rating on shares of Incyte in a research note on Friday, December 13th. Finally, UBS Group assumed coverage on shares of Incyte in a research report on Tuesday, December 17th. They issued a “neutral” rating and a $77.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $75.25.

Insiders Place Their Bets

In related news, 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 sale, the executive vice president now directly owns 66,967 shares in the company, valued at $4,867,831.23. The trade was a 15.57 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Vijay K. Iyengar sold 6,043 shares of the business’s stock in a transaction dated Friday, November 29th. The stock was 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 owns 30,658 shares in the company, valued at $2,311,000.04. This represents a 16.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,695 shares of company stock worth $1,444,356. 17.60% of the stock is owned by insiders.

Incyte Trading Up 0.5 %

NASDAQ:INCY opened at $74.40 on Wednesday. The stock’s 50 day moving average price is $71.42 and its 200 day moving average price is $69.70. The company has a market capitalization of $14.40 billion, a PE ratio of 275.57, a P/E/G ratio of 0.41 and a beta of 0.70. The company has a quick ratio of 1.94, a current ratio of 1.97 and a debt-to-equity ratio of 0.01. Incyte Co. has a 52-week low of $50.35 and a 52-week high of $83.95.

Incyte (NASDAQ:INCY) last released its quarterly earnings results on Monday, February 10th. The biopharmaceutical company reported $1.09 EPS 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%. On average, research analysts anticipate that Incyte Co. will post 4.86 EPS for the current year.

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.