Russell Investments Group Ltd. Trims Stock Position in Incyte Co. (NASDAQ:INCY)

Russell Investments Group Ltd. decreased its stake in Incyte Co. (NASDAQ:INCY) by 1.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 511,387 shares of the biopharmaceutical company’s stock after selling 9,867 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.27% of Incyte worth $35,257,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Geode Capital Management LLC grew its stake in shares of Incyte by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 4,040,086 shares of the biopharmaceutical company’s stock worth $278,346,000 after purchasing an additional 103,910 shares during the period. Norges Bank purchased a new position in Incyte in the fourth quarter valued at $121,890,000. Charles Schwab Investment Management Inc. raised its position in shares of Incyte by 2.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,643,067 shares of the biopharmaceutical company’s stock worth $113,487,000 after acquiring an additional 33,847 shares during the period. Pictet Asset Management Holding SA boosted its stake in shares of Incyte by 73.4% during the 4th quarter. Pictet Asset Management Holding SA now owns 1,313,873 shares of the biopharmaceutical company’s stock worth $90,749,000 after acquiring an additional 556,218 shares in the last quarter. Finally, Sound Shore Management Inc. CT grew its position in shares of Incyte by 98.4% during the 4th quarter. Sound Shore Management Inc. CT now owns 1,201,089 shares of the biopharmaceutical company’s stock valued at $82,959,000 after acquiring an additional 595,741 shares during the period. 96.97% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Incyte news, EVP Sheila A. Denton sold 599 shares of the stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $69.99, for a total transaction of $41,924.01. Following the completion of the transaction, the executive vice president now owns 25,848 shares of the company’s stock, valued at $1,809,101.52. This trade represents a 2.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Steven H. Stein sold 12,352 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The shares were 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 directly owns 66,967 shares in the company, valued at $4,867,831.23. This trade represents a 15.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 46,827 shares of company stock valued at $3,322,618. 17.60% of the stock is currently owned by insiders.

Incyte Stock Performance

NASDAQ:INCY opened at $60.29 on Tuesday. The company’s 50-day moving average is $68.17 and its two-hundred day moving average is $69.96. Incyte Co. has a 1-year low of $50.35 and a 1-year high of $83.95. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.94. The firm has a market capitalization of $11.67 billion, a price-to-earnings ratio of 223.30, a PEG ratio of 0.41 and a beta of 0.89.

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

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Morgan Stanley lowered their price target on Incyte from $69.00 to $65.00 and set an “equal weight” rating on the stock in a research report on Monday, March 24th. UBS Group initiated coverage on shares of Incyte in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $77.00 price target on the stock. Cantor Fitzgerald restated a “neutral” rating on shares of Incyte in a research report on Friday, January 10th. Wells Fargo & Company lifted their target price on shares of Incyte from $68.00 to $70.00 and gave the company an “equal weight” rating in a research report on Thursday, December 19th. Finally, Stifel Nicolaus upped their price target on shares of Incyte from $75.00 to $77.00 and gave the stock a “hold” rating in a research report on Monday, February 10th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $74.88.

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.