abrdn plc Sells 8,704 Shares of Incyte Co. (NASDAQ:INCY)

abrdn plc decreased its holdings in Incyte Co. (NASDAQ:INCYGet Rating) by 15.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 46,272 shares of the biopharmaceutical company’s stock after selling 8,704 shares during the period. abrdn plc’s holdings in Incyte were worth $3,681,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of INCY. National Bank of Canada FI purchased a new position in Incyte in the fourth quarter worth $44,000. Janney Montgomery Scott LLC grew its holdings in Incyte by 348.2% in the fourth quarter. Janney Montgomery Scott LLC now owns 21,657 shares of the biopharmaceutical company’s stock worth $1,590,000 after purchasing an additional 16,825 shares during the last quarter. Bessemer Group Inc. grew its holdings in Incyte by 275.6% in the fourth quarter. Bessemer Group Inc. now owns 909 shares of the biopharmaceutical company’s stock worth $67,000 after purchasing an additional 667 shares during the last quarter. National Asset Management Inc. grew its holdings in Incyte by 5.3% in the fourth quarter. National Asset Management Inc. now owns 3,255 shares of the biopharmaceutical company’s stock worth $239,000 after purchasing an additional 164 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new position in Incyte in the fourth quarter worth $8,034,000. Institutional investors own 92.78% of the company’s stock.

Insiders Place Their Bets

In other Incyte news, EVP Vijay K. Iyengar sold 5,787 shares of the company’s stock in a transaction dated Thursday, July 7th. The shares were sold at an average price of $79.38, for a total value of $459,372.06. Following the completion of the transaction, the executive vice president now owns 40,313 shares in the company, valued at $3,200,045.94. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, EVP Vijay K. Iyengar sold 5,787 shares of the company’s stock in a transaction dated Thursday, July 7th. The shares were sold at an average price of $79.38, for a total transaction of $459,372.06. Following the completion of the transaction, the executive vice president now owns 40,313 shares in the company, valued at approximately $3,200,045.94. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Thomas Tray sold 1,564 shares of the company’s stock in a transaction dated Friday, July 22nd. The stock was sold at an average price of $83.13, for a total transaction of $130,015.32. Following the transaction, the insider now owns 17,702 shares of the company’s stock, valued at approximately $1,471,567.26. The disclosure for this sale can be found here. Insiders own 15.80% of the company’s stock.

Incyte Price Performance

NASDAQ:INCY opened at $77.68 on Monday. Incyte Co. has a one year low of $61.91 and a one year high of $84.86. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.67 and a current ratio of 3.71. The firm has a market cap of $17.21 billion, a price-to-earnings ratio of 18.50, a PEG ratio of 0.97 and a beta of 0.66. The firm’s fifty day moving average is $76.47 and its two-hundred day moving average is $75.27.

Incyte (NASDAQ:INCYGet Rating) last issued its quarterly earnings data on Tuesday, May 3rd. The biopharmaceutical company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.06. The business had revenue of $733.20 million during the quarter, compared to the consensus estimate of $753.54 million. Incyte had a net margin of 29.95% and a return on equity of 12.77%. The company’s revenue was up 21.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.50 earnings per share. Research analysts expect that Incyte Co. will post 2.31 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on INCY shares. SVB Leerink lifted their price target on shares of Incyte from $58.00 to $63.00 and gave the stock an “underperform” rating in a report on Wednesday, July 20th. TheStreet lowered shares of Incyte from a “b” rating to a “c” rating in a report on Tuesday, May 3rd. Wells Fargo & Company initiated coverage on shares of Incyte in a report on Thursday. They set an “equal weight” rating and a $76.00 price objective on the stock. StockNews.com lowered shares of Incyte from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 14th. Finally, Morgan Stanley boosted their price objective on shares of Incyte from $73.00 to $76.00 and gave the company an “equal weight” rating in a report on Wednesday, April 20th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, Incyte presently has an average rating of “Hold” and a consensus price target of $86.55.

About Incyte

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Incyte Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of proprietary therapeutics in the United States and internationally. The company offers JAKAFI, a drug for the treatment of myelofibrosis and polycythemia vera; PEMAZYRE, a fibroblast growth factor receptor kinase inhibitor that act as oncogenic drivers in various liquid and solid tumor types; and ICLUSIG, a kinase inhibitor to treat chronic myeloid leukemia and philadelphia-chromosome positive acute lymphoblastic leukemia.

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Institutional Ownership by Quarter for Incyte (NASDAQ:INCY)

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