World Asset Management Inc cut its stake in Incyte Corporation (NASDAQ:INCY) by 13.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,308 shares of the biopharmaceutical company’s stock after selling 2,568 shares during the period. World Asset Management Inc’s holdings in Incyte Corporation were worth $2,053,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the company. Tower Research Capital LLC TRC bought a new position in Incyte Corporation during the first quarter valued at approximately $105,000. D. Scott Neal Inc. acquired a new position in shares of Incyte Corporation during the second quarter worth approximately $103,000. Cornerstone Advisors Inc. increased its position in shares of Incyte Corporation by 19.6% in the second quarter. Cornerstone Advisors Inc. now owns 884 shares of the biopharmaceutical company’s stock worth $111,000 after buying an additional 145 shares during the last quarter. FNY Partners Fund LP increased its position in shares of Incyte Corporation by 4,825.0% in the first quarter. FNY Partners Fund LP now owns 985 shares of the biopharmaceutical company’s stock worth $131,000 after buying an additional 965 shares during the last quarter. Finally, Exane Asset Management acquired a new position in shares of Incyte Corporation during the second quarter worth approximately $126,000. Hedge funds and other institutional investors own 91.73% of the company’s stock.
Incyte Corporation (NASDAQ INCY) traded up 1.62% on Friday, hitting $124.10. 898,025 shares of the company were exchanged. Incyte Corporation has a 52-week low of $75.52 and a 52-week high of $153.15. The firm has a 50 day moving average of $131.29 and a 200-day moving average of $129.35. The stock’s market cap is $25.53 billion.
Incyte Corporation (NASDAQ:INCY) last posted its quarterly earnings data on Tuesday, August 1st. The biopharmaceutical company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.05) by $0.01. The company had revenue of $326.40 million during the quarter, compared to analyst estimates of $318.45 million. Incyte Corporation had a negative return on equity of 21.57% and a negative net margin of 11.77%. The business’s revenue for the quarter was up 32.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.18 EPS. On average, equities analysts expect that Incyte Corporation will post ($0.89) earnings per share for the current fiscal year.
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INCY has been the topic of a number of recent analyst reports. Jefferies Group LLC reissued a “buy” rating and issued a $148.00 price objective (down from $165.00) on shares of Incyte Corporation in a research report on Monday, April 17th. Morgan Stanley reaffirmed an “overweight” rating and set a $142.00 target price on shares of Incyte Corporation in a research report on Friday, May 19th. Barclays PLC reduced their target price on shares of Incyte Corporation from $185.00 to $180.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 19th. BMO Capital Markets lifted their price objective on shares of Incyte Corporation from $144.00 to $146.00 and gave the company an “outperform” rating in a report on Friday, May 5th. Finally, Zacks Investment Research raised shares of Incyte Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, May 23rd. Seven investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. Incyte Corporation has a consensus rating of “Buy” and an average price target of $140.39.
In other Incyte Corporation news, CFO David W. Gryska sold 16,756 shares of the company’s stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $116.60, for a total value of $1,953,749.60. Following the completion of the sale, the chief financial officer now directly owns 35,771 shares of the company’s stock, valued at approximately $4,170,898.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jean Jacques Bienaime purchased 500 shares of the business’s stock in a transaction on Wednesday, May 31st. The stock was acquired at an average cost of $131.80 per share, with a total value of $65,900.00. Following the completion of the acquisition, the director now directly owns 4,677 shares in the company, valued at approximately $616,428.60. The disclosure for this purchase can be found here. Insiders sold 48,183 shares of company stock valued at $5,976,946 in the last ninety days. Corporate insiders own 17.70% of the company’s stock.
Incyte Corporation Company Profile
Incyte Corporation is a biopharmaceutical company focused on the discovery, development and commercialization of therapeutics. Its portfolio includes compounds in various stages, ranging from preclinical to late-stage development, and commercialized products, such as JAKAFI (ruxolitinib) and ICLUSIG (ponatinib).
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