UniSuper Management Pty Ltd Sells 5,179 Shares of Incyte Co. (NASDAQ:INCY)

UniSuper Management Pty Ltd lessened its stake in Incyte Co. (NASDAQ:INCY) by 16.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,028 shares of the biopharmaceutical company’s stock after selling 5,179 shares during the quarter. UniSuper Management Pty Ltd’s holdings in Incyte were worth $1,867,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Quintet Private Bank Europe S.A. bought a new position in Incyte during the 4th quarter valued at $26,000. Global X Japan Co. Ltd. raised its holdings 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 last quarter. Brooklyn Investment Group purchased a new position in Incyte during the third quarter worth about $30,000. R Squared Ltd bought a new stake in Incyte in the 4th quarter worth about $30,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Incyte in the 3rd quarter valued at about $33,000. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Morgan Stanley reduced their target price on Incyte from $69.00 to $65.00 and set an “equal weight” rating for the company in a report on Monday, March 24th. Citigroup reduced their price objective on Incyte from $97.00 to $88.00 and set a “buy” rating for the company in a research note on Tuesday, February 11th. Royal Bank of Canada lowered their target price on Incyte from $70.00 to $68.00 and set a “sector perform” rating on the stock in a research note on Tuesday, February 11th. William Blair lowered shares of Incyte from an “outperform” rating to a “market perform” rating in a research report on Tuesday, March 18th. Finally, StockNews.com lowered shares of Incyte from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have given a buy rating to the stock. According to MarketBeat, Incyte has a consensus rating of “Hold” and an average price target of $74.88.

Insider Buying and Selling at Incyte

In related news, EVP Steven H. Stein sold 12,352 shares of Incyte stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $72.69, for a total transaction of $897,866.88. Following the completion of the sale, the executive vice president now owns 66,967 shares of the company’s stock, valued at approximately $4,867,831.23. This trade represents a 15.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Barry P. Flannelly sold 19,807 shares of the company’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $67.69, for a total value of $1,340,735.83. Following the completion of the transaction, the executive vice president now owns 33,567 shares in the company, valued at $2,272,150.23. This represents a 37.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 46,827 shares of company stock valued at $3,322,618 in the last three months. Company insiders own 17.60% of the company’s stock.

Incyte Stock Performance

Shares of INCY opened at $60.60 on Monday. Incyte Co. has a 52-week low of $50.35 and a 52-week high of $83.95. The stock’s 50-day simple moving average is $69.53 and its 200 day simple moving average is $70.14. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.94 and a current ratio of 1.97. The stock has a market capitalization of $11.73 billion, a price-to-earnings ratio of 224.45, a price-to-earnings-growth ratio of 0.41 and a beta of 0.76.

Incyte (NASDAQ:INCY) last announced its quarterly earnings results on Monday, February 10th. The biopharmaceutical company reported $1.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.48). Incyte had a return on equity of 0.05% and a net margin of 0.77%. Research analysts forecast that Incyte Co. will post 4.86 EPS for the current fiscal 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.