Gabelli Funds LLC Lowers Stock Position in Incyte Co. (NASDAQ:INCY)

Gabelli Funds LLC decreased its holdings in Incyte Co. (NASDAQ:INCYFree Report) by 7.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,800 shares of the biopharmaceutical company’s stock after selling 1,200 shares during the quarter. Gabelli Funds LLC’s holdings in Incyte were worth $929,000 at the end of the most recent quarter.

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

Insider Transactions at Incyte

In related news, insider Thomas Tray sold 1,093 shares of the company’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $58.91, for a total transaction of $64,388.63. Following the transaction, the insider now owns 21,634 shares of the company’s stock, valued at $1,274,458.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 17.50% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on INCY shares. Truist Financial reissued a “buy” rating and set a $83.00 price target (down from $84.00) on shares of Incyte in a report on Wednesday, May 1st. Stifel Nicolaus lifted their price target on Incyte from $67.00 to $68.00 and gave the company a “hold” rating in a research note on Wednesday, February 14th. Deutsche Bank Aktiengesellschaft started coverage on Incyte in a research report on Thursday, May 23rd. They issued a “hold” rating and a $55.00 price objective for the company. BMO Capital Markets decreased their target price on shares of Incyte from $56.00 to $52.00 and set a “market perform” rating on the stock in a research report on Wednesday, May 1st. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $65.00 price target on shares of Incyte in a report on Monday, March 25th. Ten research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Incyte currently has a consensus rating of “Hold” and an average target price of $73.69.

Check Out Our Latest Stock Analysis on Incyte

Incyte Stock Performance

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

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

About Incyte

(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

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Institutional Ownership by Quarter for Incyte (NASDAQ:INCY)

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