Elo Mutual Pension Insurance Co Buys 5,039 Shares of Incyte Co. (NASDAQ:INCY)

Elo Mutual Pension Insurance Co increased its stake in shares of Incyte Co. (NASDAQ:INCY) by 34.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 19,501 shares of the biopharmaceutical company’s stock after purchasing an additional 5,039 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Incyte were worth $1,347,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Point72 Asset Management L.P. bought a new position in Incyte during the third quarter valued at $156,611,000. Sound Shore Management Inc. CT boosted its stake in shares of Incyte by 98.4% during the 4th quarter. Sound Shore Management Inc. CT now owns 1,201,089 shares of the biopharmaceutical company’s stock worth $82,959,000 after purchasing an additional 595,741 shares during the period. Long Corridor Asset Management Ltd bought a new position in Incyte during the 4th quarter valued at about $22,793,000. Candriam S.C.A. raised its position in Incyte by 27.8% in the 4th quarter. Candriam S.C.A. now owns 1,034,652 shares of the biopharmaceutical company’s stock worth $71,463,000 after purchasing an additional 224,919 shares during the period. Finally, LBP AM SA bought a new stake in Incyte in the fourth quarter worth about $13,905,000. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Incyte Stock Performance

Incyte stock opened at $60.60 on Monday. The stock 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. Incyte Co. has a 1-year low of $50.35 and a 1-year high of $83.95. The firm has a 50 day simple moving average of $69.53 and a 200-day simple moving average of $70.14. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.94.

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

Insiders Place Their Bets

In other Incyte news, EVP Barry P. Flannelly sold 19,807 shares of the stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $67.69, for a total transaction of $1,340,735.83. Following the sale, the executive vice president now directly owns 33,567 shares in the company, valued at $2,272,150.23. This represents a 37.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Sheila A. Denton sold 599 shares of Incyte stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $69.99, for a total value of $41,924.01. Following the completion of the transaction, the executive vice president now owns 25,848 shares of the company’s stock, valued at approximately $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 46,827 shares of company stock worth $3,322,618 over the last three months. Company insiders own 17.60% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Truist Financial reduced their price target on Incyte from $74.00 to $72.00 and set a “hold” rating on the stock in a report on Tuesday, March 18th. Stifel Nicolaus lifted their target price on Incyte from $75.00 to $77.00 and gave the stock a “hold” rating in a research report on Monday, February 10th. William Blair cut shares of Incyte from an “outperform” rating to a “market perform” rating in a report on Tuesday, March 18th. Cantor Fitzgerald reiterated a “neutral” rating on shares of Incyte in a report on Friday, January 10th. Finally, StockNews.com cut shares of Incyte from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Incyte has an average rating of “Hold” and an average price target 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.