World Asset Management Inc Has $2.05 Million Position in Incyte Corporation (INCY)

World Asset Management Inc lowered its stake in shares of Incyte Corporation (NASDAQ:INCY) by 13.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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 reporting period.

Several other institutional investors also recently bought and sold shares of INCY. Braun Stacey Associates Inc. raised its stake in shares of Incyte Corporation by 9.1% in the second quarter. Braun Stacey Associates Inc. now owns 156,530 shares of the biopharmaceutical company’s stock worth $19,709,000 after buying an additional 13,055 shares in the last quarter. Daiwa Securities Group Inc. raised its stake in shares of Incyte Corporation by 11.7% in the second quarter. Daiwa Securities Group Inc. now owns 20,030 shares of the biopharmaceutical company’s stock worth $2,522,000 after buying an additional 2,100 shares in the last quarter. Grove Bank & Trust raised its stake in shares of Incyte Corporation by 273.1% in the second quarter. Grove Bank & Trust now owns 1,276 shares of the biopharmaceutical company’s stock worth $161,000 after buying an additional 934 shares in the last quarter. Grandfield & Dodd LLC raised its stake in shares of Incyte Corporation by 1.2% in the second quarter. Grandfield & Dodd LLC now owns 7,383 shares of the biopharmaceutical company’s stock worth $930,000 after buying an additional 85 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. raised its stake in shares of Incyte Corporation by 12.1% in the second quarter. Tokio Marine Asset Management Co. Ltd. now owns 56,915 shares of the biopharmaceutical company’s stock worth $7,166,000 after buying an additional 6,122 shares in the last quarter. Hedge funds and other institutional investors own 91.54% of the company’s stock.

Incyte Corporation (NASDAQ:INCY) traded down 0.45% on Friday, reaching $121.19. The company had a trading volume of 958,477 shares. The company’s market capitalization is $24.93 billion. The company’s 50-day moving average is $129.70 and its 200-day moving average is $129.55. Incyte Corporation has a 52-week low of $77.58 and a 52-week high of $153.15.

Incyte Corporation (NASDAQ:INCY) last posted its earnings results on Tuesday, August 1st. The biopharmaceutical company reported ($0.06) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.05) by $0.01. The firm had revenue of $326.40 million for the quarter, compared to analysts’ expectations of $318.45 million. Incyte Corporation had a negative return on equity of 21.57% and a negative net margin of 11.77%. The firm’s revenue for the quarter was up 32.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.18 earnings per share. Equities analysts anticipate that Incyte Corporation will post ($0.86) EPS for the current fiscal year.

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A number of equities research analysts recently commented on the company. BidaskClub lowered Incyte Corporation from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. Evercore ISI assumed coverage on Incyte Corporation in a research report on Wednesday. They issued an “in-line” rating and a $135.00 target price on the stock. Barclays PLC reiterated an “overweight” rating and issued a $165.00 target price (down previously from $180.00) on shares of Incyte Corporation in a research report on Wednesday, August 2nd. Credit Suisse Group reiterated a “buy” rating on shares of Incyte Corporation in a research report on Saturday, June 10th. Finally, Cowen and Company reiterated an “outperform” rating and issued a $130.00 target price on shares of Incyte Corporation in a research report on Monday, July 3rd. Eight investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $140.16.

In other Incyte Corporation news, EVP Eric H. Siegel sold 1,820 shares of the business’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $132.92, for a total transaction of $241,914.40. Following the sale, the executive vice president now directly owns 23,553 shares in the company, valued at $3,130,664.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Paul Trower sold 3,000 shares of the business’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $125.25, for a total value of $375,750.00. Following the sale, the insider now owns 11,853 shares in the company, valued at $1,484,588.25. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 48,183 shares of company stock worth $5,976,946. 17.70% of the stock is owned by company insiders.

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).

Institutional Ownership by Quarter for Incyte Corporation (NASDAQ:INCY)

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