PDT Partners LLC Has $313,000 Stake in Incyte Co. (NASDAQ:INCY)

PDT Partners LLC decreased its holdings in shares of Incyte Co. (NASDAQ:INCY) by 42.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,734 shares of the biopharmaceutical company’s stock after selling 3,532 shares during the quarter. PDT Partners LLC’s holdings in Incyte were worth $313,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. MFA Wealth Advisors LLC acquired a new stake in shares of Incyte during the 2nd quarter worth approximately $26,000. Brooklyn Investment Group acquired a new position in Incyte during the third quarter valued at approximately $30,000. Innealta Capital LLC acquired a new position in Incyte during the second quarter valued at approximately $32,000. Cromwell Holdings LLC grew its holdings in Incyte by 101.1% during the third quarter. Cromwell Holdings LLC now owns 563 shares of the biopharmaceutical company’s stock valued at $37,000 after purchasing an additional 283 shares during the period. Finally, Itau Unibanco Holding S.A. acquired a new position in Incyte during the second quarter valued at approximately $36,000. Institutional investors and hedge funds own 96.97% of the company’s stock.

Analyst Ratings Changes

INCY has been the subject of a number of analyst reports. Citigroup boosted their price objective on shares of Incyte from $92.00 to $97.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Cantor Fitzgerald restated a “neutral” rating on shares of Incyte in a report on Tuesday, November 19th. Wolfe Research began coverage on shares of Incyte in a research note on Tuesday, October 1st. They issued an “outperform” rating and a $84.00 price target on the stock. Wells Fargo & Company lifted their price target on shares of Incyte from $62.00 to $68.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Finally, William Blair reaffirmed an “outperform” rating on shares of Incyte in a research note on Monday, September 9th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $77.16.

Insider Activity at Incyte

In other news, EVP Vijay K. Iyengar sold 6,043 shares of the stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $75.38, for a total value of $455,521.34. Following the completion of the transaction, the executive vice president now owns 30,658 shares of the company’s stock, valued at approximately $2,311,000.04. This represents a 16.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Thomas Tray sold 572 shares of the 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 of the company’s stock, valued at $1,562,485.50. This trade represents a 2.25 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,745 shares of company stock worth $1,311,687. Corporate insiders own 17.60% of the company’s stock.

Incyte Stock Performance

Shares of INCY stock opened at $72.03 on Wednesday. The firm has a market cap of $13.88 billion, a PE ratio of 514.54, a P/E/G ratio of 8.44 and a beta of 0.69. Incyte Co. has a 12 month low of $50.35 and a 12 month high of $83.95. The company’s fifty day simple moving average is $71.11 and its 200-day simple moving average is $65.44. The company has a quick ratio of 1.82, a current ratio of 1.87 and a debt-to-equity ratio of 0.01.

Incyte (NASDAQ:INCY) last issued 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). The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.08 billion. Incyte had a negative return on equity of 0.63% and a net margin of 0.80%. Incyte’s quarterly revenue was up 23.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.91 earnings per share. Equities research analysts expect that Incyte Co. will post 0.4 EPS for the current fiscal year.

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.