Sumitomo Mitsui DS Asset Management Company Ltd Trims Stock Holdings in Incyte Co. (NASDAQ:INCY)

Sumitomo Mitsui DS Asset Management Company Ltd lowered its stake in Incyte Co. (NASDAQ:INCY) by 0.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,380 shares of the biopharmaceutical company’s stock after selling 199 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Incyte were worth $1,615,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Orion Portfolio Solutions LLC purchased a new position in Incyte during the third quarter valued at approximately $770,000. CWA Asset Management Group LLC bought a new stake in shares of Incyte during the 4th quarter valued at $1,933,000. Greenwood Capital Associates LLC bought a new stake in shares of Incyte during the 3rd quarter valued at $433,000. Tri Ri Asset Management Corp purchased a new position in shares of Incyte during the 3rd quarter valued at $3,292,000. Finally, Cypress Capital Group bought a new position in Incyte in the 3rd quarter worth $971,000. 96.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on INCY shares. Royal Bank of Canada restated a “sector perform” rating and issued a $70.00 price objective on shares of Incyte in a research report on Thursday, January 23rd. William Blair reaffirmed an “outperform” rating on shares of Incyte in a research note on Friday, December 13th. Wells Fargo & Company boosted their target price on Incyte from $68.00 to $70.00 and gave the company an “equal weight” rating in a research report on Thursday, December 19th. Cantor Fitzgerald reissued a “neutral” rating on shares of Incyte in a research note on Friday, January 10th. Finally, StockNews.com raised shares of Incyte from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 4th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Incyte presently has an average rating of “Hold” and an average price target of $75.71.

Insiders Place Their Bets

In related news, EVP Steven H. Stein sold 12,352 shares of the stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $72.69, for a total value of $897,866.88. Following the transaction, the executive vice president now directly 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Thomas Tray sold 650 shares of Incyte stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $69.31, for a total transaction of $45,051.50. Following the transaction, the insider now directly owns 23,312 shares in the company, valued at approximately $1,615,754.72. This trade represents a 2.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 19,695 shares of company stock valued at $1,444,356. Company insiders own 17.60% of the company’s stock.

Incyte Stock Performance

NASDAQ INCY opened at $68.30 on Tuesday. The business’s 50 day moving average is $71.79 and its two-hundred day moving average is $69.18. Incyte Co. has a 12-month low of $50.35 and a 12-month high of $83.95. The stock has a market capitalization of $13.16 billion, a price-to-earnings ratio of 487.89, a PEG ratio of 0.53 and a beta of 0.70. The company has a current ratio of 1.87, a quick ratio of 1.82 and a debt-to-equity ratio of 0.01.

Incyte (NASDAQ:INCY) last released its quarterly earnings results on Monday, February 10th. The biopharmaceutical company reported $1.09 earnings per share for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.48). Incyte had a negative return on equity of 0.63% and a net margin of 0.80%. Research analysts expect that Incyte Co. will post 0.35 EPS for the current 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.