Cibc World Markets Corp Sells 86,204 Shares of Incyte Co. (NASDAQ:INCY)

Cibc World Markets Corp lowered its position in Incyte Co. (NASDAQ:INCYFree Report) by 78.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,062 shares of the biopharmaceutical company’s stock after selling 86,204 shares during the quarter. Cibc World Markets Corp’s holdings in Incyte were worth $1,511,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Cape Investment Advisory Inc. purchased a new stake in Incyte in the fourth quarter worth approximately $25,000. Larson Financial Group LLC boosted its stake in Incyte by 4,220.0% in the fourth quarter. Larson Financial Group LLC now owns 432 shares of the biopharmaceutical company’s stock worth $27,000 after buying an additional 422 shares in the last quarter. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Incyte during the fourth quarter valued at approximately $31,000. EverSource Wealth Advisors LLC boosted its stake in shares of Incyte by 597.8% during the fourth quarter. EverSource Wealth Advisors LLC now owns 635 shares of the biopharmaceutical company’s stock valued at $40,000 after purchasing an additional 544 shares during the period. Finally, Quadrant Capital Group LLC boosted its stake in shares of Incyte by 85.2% during the fourth quarter. Quadrant Capital Group LLC now owns 711 shares of the biopharmaceutical company’s stock valued at $45,000 after purchasing an additional 327 shares during the period. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Insiders Place Their Bets

In other news, insider Thomas Tray sold 1,093 shares of the firm’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $58.91, for a total transaction of $64,388.63. Following the completion of the transaction, the insider now directly owns 21,634 shares in the company, valued at $1,274,458.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 17.50% of the stock is owned by corporate insiders.

Incyte Price Performance

INCY opened at $59.40 on Tuesday. The stock has a fifty day simple moving average of $55.29 and a two-hundred day simple moving average of $58.10. The company has a current ratio of 3.47, a quick ratio of 3.43 and a debt-to-equity ratio of 0.01. The company has a market cap of $13.34 billion, a price-to-earnings ratio of 18.00, a price-to-earnings-growth ratio of 1.27 and a beta of 0.74. Incyte Co. has a 12-month low of $50.27 and a 12-month high of $67.36.

Incyte (NASDAQ:INCYGet Free Report) last posted its quarterly earnings data on Tuesday, April 30th. The biopharmaceutical company reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.31). The firm had revenue of $880.89 million during the quarter, compared to the consensus estimate of $935.85 million. Incyte had a return on equity of 12.83% and a net margin of 19.78%. Research analysts predict that Incyte Co. will post 3.57 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

INCY has been the subject of a number of analyst reports. BMO Capital Markets dropped their price objective on Incyte from $56.00 to $52.00 and set a “market perform” rating for the company in a research note on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft initiated coverage on Incyte in a research note on Thursday, May 23rd. They set a “hold” rating and a $55.00 price objective for the company. Truist Financial reissued a “buy” rating and set a $83.00 price objective (down previously from $84.00) on shares of Incyte in a research note on Wednesday, May 1st. Royal Bank of Canada reissued a “sector perform” rating and set a $65.00 price objective on shares of Incyte in a research note on Monday, March 25th. Finally, Bank of America dropped their price objective on Incyte from $69.00 to $67.00 and set a “neutral” rating for the company in a research note on Wednesday, March 13th. Ten investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $73.69.

Check Out Our Latest Stock Report on Incyte

Incyte Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Incyte (NASDAQ:INCY)

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