UniSuper Management Pty Ltd Sells 5,179 Shares of Incyte Co. (NASDAQ:INCY)

UniSuper Management Pty Ltd decreased its position in Incyte Co. (NASDAQ:INCY) by 16.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,028 shares of the biopharmaceutical company’s stock after selling 5,179 shares during the quarter. UniSuper Management Pty Ltd’s holdings in Incyte were worth $1,867,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. JPMorgan Chase & Co. boosted its stake in shares of Incyte by 13.5% in the 4th quarter. JPMorgan Chase & Co. now owns 323,640 shares of the biopharmaceutical company’s stock valued at $22,354,000 after purchasing an additional 38,550 shares in the last quarter. Elo Mutual Pension Insurance Co lifted its stake in Incyte by 34.8% in the fourth quarter. Elo Mutual Pension Insurance Co now owns 19,501 shares of the biopharmaceutical company’s stock worth $1,347,000 after purchasing an additional 5,039 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Incyte by 5.5% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 248,875 shares of the biopharmaceutical company’s stock valued at $17,329,000 after buying an additional 13,026 shares during the period. Korea Investment CORP grew its stake in shares of Incyte by 17.2% during the fourth quarter. Korea Investment CORP now owns 68,826 shares of the biopharmaceutical company’s stock valued at $4,754,000 after buying an additional 10,100 shares during the last quarter. Finally, United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund purchased a new position in shares of Incyte in the fourth quarter worth about $318,000. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Incyte Price Performance

INCY opened at $60.60 on Monday. The company has a current ratio of 1.97, a quick ratio of 1.94 and a debt-to-equity ratio of 0.01. The company has a market cap of $11.73 billion, a price-to-earnings ratio of 224.45, a price-to-earnings-growth ratio of 0.41 and a beta of 0.76. The stock has a fifty day simple moving average of $69.53 and a two-hundred day simple moving average of $70.14. Incyte Co. has a 12-month low of $50.35 and a 12-month high of $83.95.

Incyte (NASDAQ:INCY) last issued its quarterly earnings results 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%. Research analysts predict that Incyte Co. will post 4.86 earnings per share for the current fiscal year.

Insider Transactions at Incyte

In other news, EVP Barry P. Flannelly sold 19,807 shares of Incyte stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $67.69, for a total value of $1,340,735.83. Following the completion of the transaction, the executive vice president now owns 33,567 shares of the company’s stock, valued at $2,272,150.23. The trade was a 37.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Sheila A. Denton sold 599 shares of the stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $69.99, for a total transaction of $41,924.01. Following the sale, the executive vice president now directly owns 25,848 shares in the company, valued at $1,809,101.52. This trade represents a 2.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 46,827 shares of company stock valued at $3,322,618 in the last ninety days. 17.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on INCY. Guggenheim lowered Incyte from a “buy” rating to a “neutral” rating and set a $92.00 price target on the stock. in a research report on Tuesday, March 18th. Truist Financial cut their target price on shares of Incyte from $74.00 to $72.00 and set a “hold” rating on the stock in a report on Tuesday, March 18th. UBS Group assumed coverage on shares of Incyte in a report on Tuesday, December 17th. They set a “neutral” rating and a $77.00 price target for the company. JMP Securities reissued a “market perform” rating on shares of Incyte in a report on Tuesday, February 11th. Finally, Citigroup lowered their price objective on shares of Incyte from $97.00 to $88.00 and set a “buy” rating for the company in a research note on Tuesday, February 11th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Incyte presently has an average rating of “Hold” and a consensus target price of $74.88.

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 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.