California Public Employees Retirement System Sells 13,500 Shares of Incyte Co. (NASDAQ:INCY)

California Public Employees Retirement System decreased its position in shares of Incyte Co. (NASDAQ:INCY) by 1.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,163,306 shares of the biopharmaceutical company’s stock after selling 13,500 shares during the quarter. California Public Employees Retirement System’s holdings in Incyte were worth $72,416,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Clear Street Markets LLC boosted its stake in Incyte by 93.6% during the 1st quarter. Clear Street Markets LLC now owns 362 shares of the biopharmaceutical company’s stock worth $26,000 after acquiring an additional 175 shares during the last quarter. Parkside Financial Bank & Trust lifted its stake in Incyte by 91.0% in the first quarter. Parkside Financial Bank & Trust now owns 447 shares of the biopharmaceutical company’s stock valued at $36,000 after buying an additional 213 shares in the last quarter. Ellevest Inc. lifted its stake in Incyte by 52.6% in the first quarter. Ellevest Inc. now owns 548 shares of the biopharmaceutical company’s stock valued at $40,000 after buying an additional 189 shares in the last quarter. Glassman Wealth Services lifted its stake in Incyte by 49.9% in the second quarter. Glassman Wealth Services now owns 640 shares of the biopharmaceutical company’s stock valued at $40,000 after buying an additional 213 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV lifted its stake in Incyte by 132.9% in the second quarter. Massmutual Trust Co. FSB ADV now owns 757 shares of the biopharmaceutical company’s stock valued at $47,000 after buying an additional 432 shares in the last quarter. Institutional investors own 92.61% of the company’s stock.

Incyte Trading Up 2.7 %

INCY opened at $54.57 on Wednesday. Incyte Co. has a twelve month low of $50.27 and a twelve month high of $86.29. The company has a 50-day simple moving average of $57.48 and a 200 day simple moving average of $61.51. The company has a quick ratio of 3.86, a current ratio of 3.91 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $12.23 billion, a price-to-earnings ratio of 28.87, a P/E/G ratio of 0.93 and a beta of 0.72.

Wall Street Analyst Weigh In

INCY has been the topic of a number of research reports. The Goldman Sachs Group cut their price target on shares of Incyte from $114.00 to $98.00 and set a “buy” rating on the stock in a research note on Thursday, November 2nd. StockNews.com raised shares of Incyte from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, November 1st. Royal Bank of Canada cut their price objective on shares of Incyte from $74.00 to $63.00 and set a “sector perform” rating on the stock in a research report on Wednesday, November 1st. Morgan Stanley cut their price objective on shares of Incyte from $74.00 to $64.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 1st. Finally, Oppenheimer reissued an “outperform” rating and issued a $92.00 price objective on shares of Incyte in a research report on Wednesday, August 2nd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $81.78.

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, Europe, Japan, and internationally. The company offers JAKAFI (ruxolitinib), for the treatment of adults with intermediate or high-risk myelofibrosis; MONJUVI (tafasitamab-cxix)/MINJUVI (tafasitamab), for the treatment of adult patients with relapsed or refractory diffuse large B-cell lymphoma; PEMAZYRE (pemigatinib), 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.