Shell Asset Management Co. Sells 1,335 Shares of Incyte Co. (NASDAQ:INCY)

Shell Asset Management Co. reduced its stake in Incyte Co. (NASDAQ:INCYGet Rating) by 12.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,161 shares of the biopharmaceutical company’s stock after selling 1,335 shares during the quarter. Shell Asset Management Co.’s holdings in Incyte were worth $728,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. National Asset Management Inc. boosted its position in shares of Incyte by 5.3% in the 4th 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 in the last quarter. Kentucky Retirement Systems Insurance Trust Fund lifted its position in Incyte by 3.7% in the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 4,810 shares of the biopharmaceutical company’s stock valued at $353,000 after acquiring an additional 170 shares in the last quarter. Glassman Wealth Services lifted its position in Incyte by 52.1% in the 4th quarter. Glassman Wealth Services now owns 502 shares of the biopharmaceutical company’s stock valued at $37,000 after acquiring an additional 172 shares in the last quarter. Mutual of America Capital Management LLC lifted its position in Incyte by 0.6% in the 4th quarter. Mutual of America Capital Management LLC now owns 27,650 shares of the biopharmaceutical company’s stock valued at $2,030,000 after acquiring an additional 177 shares in the last quarter. Finally, Parallel Advisors LLC lifted its position in Incyte by 22.5% in the 1st quarter. Parallel Advisors LLC now owns 976 shares of the biopharmaceutical company’s stock valued at $78,000 after acquiring an additional 179 shares in the last quarter. 92.78% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on INCY shares. Morgan Stanley upped their price objective on Incyte from $73.00 to $76.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 20th. TheStreet cut Incyte from a “b” rating to a “c” rating in a research report on Tuesday, May 3rd. SVB Leerink increased their price target on Incyte from $58.00 to $63.00 and gave the company an “underperform” rating in a report on Wednesday, July 20th. Stifel Nicolaus increased their price target on Incyte from $75.00 to $77.00 in a report on Tuesday, May 3rd. Finally, Wells Fargo & Company assumed coverage on Incyte in a report on Thursday. They set an “equal weight” rating and a $76.00 price target on the stock. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $86.55.

Incyte Trading Down 1.4 %

NASDAQ:INCY opened at $77.68 on Monday. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.71 and a quick ratio of 3.67. The firm has a market capitalization of $17.21 billion, a price-to-earnings ratio of 18.50, a price-to-earnings-growth ratio of 0.97 and a beta of 0.66. Incyte Co. has a one year low of $61.91 and a one year high of $84.86. The business has a fifty day moving average price of $76.47 and a 200-day moving average price of $75.27.

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

Insiders Place Their Bets

In other Incyte news, insider Thomas Tray sold 1,564 shares of the stock in a transaction on Friday, July 22nd. The stock was sold at an average price of $83.13, for a total value of $130,015.32. Following the completion of the sale, the insider now owns 17,702 shares in the company, valued at approximately $1,471,567.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, EVP Vijay K. Iyengar sold 5,787 shares of the firm’s stock in a transaction dated Thursday, July 7th. The stock was 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 $3,200,045.94. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Thomas Tray sold 1,564 shares of the firm’s stock in a transaction dated Friday, July 22nd. The shares were sold at an average price of $83.13, for a total value 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. 15.80% of the stock is currently owned by company insiders.

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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