Koss Olinger Consulting LLC Acquires Shares of 24,283 Incyte Co. (NASDAQ:INCY)

Koss Olinger Consulting LLC acquired a new stake in shares of Incyte Co. (NASDAQ:INCY) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 24,283 shares of the biopharmaceutical company’s stock, valued at approximately $1,677,000.

Several other hedge funds have also recently made changes to their positions in the business. Vinva Investment Management Ltd raised its position in shares of Incyte by 827.1% during the 4th quarter. Vinva Investment Management Ltd now owns 112,259 shares of the biopharmaceutical company’s stock valued at $7,681,000 after buying an additional 100,151 shares in the last quarter. Compass Ion Advisors LLC raised its position in shares of Incyte by 293.5% during the 4th quarter. Compass Ion Advisors LLC now owns 13,894 shares of the biopharmaceutical company’s stock valued at $960,000 after buying an additional 10,363 shares in the last quarter. Generali Asset Management SPA SGR purchased a new stake in shares of Incyte during the 4th quarter valued at about $2,658,000. Horizon Investments LLC raised its position in shares of Incyte by 9.5% during the 4th quarter. Horizon Investments LLC now owns 2,376 shares of the biopharmaceutical company’s stock valued at $164,000 after buying an additional 206 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its position in shares of Incyte by 314.3% during the 4th quarter. Thrivent Financial for Lutherans now owns 30,377 shares of the biopharmaceutical company’s stock valued at $2,098,000 after buying an additional 23,045 shares in the last quarter. 96.97% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Royal Bank of Canada decreased their target price on shares of Incyte from $70.00 to $68.00 and set a “sector perform” rating on the stock in a research report on Tuesday, February 11th. Stifel Nicolaus upped their target price on shares of Incyte from $75.00 to $77.00 and gave the company a “hold” rating in a research report on Monday, February 10th. StockNews.com lowered shares of Incyte from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 12th. Truist Financial reduced their price objective on shares of Incyte from $74.00 to $72.00 and set a “hold” rating on the stock in a research report on Tuesday. Finally, Wells Fargo & Company increased their price objective on shares of Incyte from $68.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $75.13.

Insider Activity

In other news, EVP Steven H. Stein sold 12,352 shares of the stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $72.69, for a total transaction of $897,866.88. Following the transaction, the executive vice president now directly owns 66,967 shares in the company, valued at approximately $4,867,831.23. This trade represents a 15.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Sheila A. Denton sold 14,069 shares of the stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $74.07, for a total transaction of $1,042,090.83. Following the transaction, the executive vice president now owns 25,848 shares in the company, valued at approximately $1,914,561.36. This represents a 35.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 46,827 shares of company stock worth $3,322,618. Corporate insiders own 17.60% of the company’s stock.

Incyte Stock Performance

Shares of NASDAQ:INCY opened at $60.00 on Wednesday. The firm has a market cap of $11.61 billion, a PE ratio of 222.23, a price-to-earnings-growth ratio of 0.41 and a beta of 0.76. The firm’s 50 day simple moving average is $71.29 and its 200-day simple moving average is $70.27. Incyte Co. has a one year low of $50.35 and a one year high of $83.95. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.94 and a current ratio of 1.97.

Incyte (NASDAQ:INCY) last released its quarterly earnings data on Monday, February 10th. The biopharmaceutical company reported $1.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.48). Incyte had a net margin of 0.77% and a return on equity of 0.05%. As a group, equities analysts predict that Incyte Co. will post 4.86 EPS for the current year.

About Incyte

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 and internationally. The company offers JAKAFI (ruxolitinib) for treatment of intermediate or high-risk myelofibrosis, polycythemia vera, and steroid-refractory acute graft-versus-host disease; MONJUVI (tafasitamab-cxix)/MINJUVI (tafasitamab) for relapsed or refractory diffuse large B-cell lymphoma; PEMAZYRE (pemigatinib), a fibroblast growth factor receptor kinase inhibitor that act as oncogenic drivers in liquid and solid tumor types; ICLUSIG (ponatinib) to treat chronic myeloid leukemia and Philadelphia-chromosome positive acute lymphoblastic leukemia; and ZYNYZ (retifanlimab-dlwr) to treat adults with metastatic or recurrent locally advanced Merkel cell carcinoma, as well as OPZELURA cream for treatment of atopic dermatitis.