Voya Investment Management LLC Sells 9,342 Shares of Incyte Corporation $INCY

Voya Investment Management LLC lowered its stake in shares of Incyte Corporation (NASDAQ:INCY) by 5.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 160,355 shares of the biopharmaceutical company’s stock after selling 9,342 shares during the quarter. Voya Investment Management LLC owned about 0.08% of Incyte worth $9,709,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of INCY. AQR Capital Management LLC increased its position in Incyte by 92.3% during the first quarter. AQR Capital Management LLC now owns 6,736,169 shares of the biopharmaceutical company’s stock worth $405,787,000 after acquiring an additional 3,233,356 shares during the period. Acadian Asset Management LLC increased its position in Incyte by 65.6% during the first quarter. Acadian Asset Management LLC now owns 2,511,872 shares of the biopharmaceutical company’s stock worth $152,062,000 after acquiring an additional 994,609 shares during the period. Victory Capital Management Inc. increased its position in Incyte by 581.3% during the first quarter. Victory Capital Management Inc. now owns 813,140 shares of the biopharmaceutical company’s stock worth $49,236,000 after acquiring an additional 693,782 shares during the period. Jupiter Asset Management Ltd. increased its position in Incyte by 469.9% during the first quarter. Jupiter Asset Management Ltd. now owns 829,764 shares of the biopharmaceutical company’s stock worth $50,242,000 after acquiring an additional 684,171 shares during the period. Finally, Jacobs Levy Equity Management Inc. increased its position in Incyte by 56.8% during the first quarter. Jacobs Levy Equity Management Inc. now owns 1,398,143 shares of the biopharmaceutical company’s stock worth $84,658,000 after acquiring an additional 506,484 shares during the period. Institutional investors own 96.97% of the company’s stock.

Insider Activity at Incyte

In other Incyte news, EVP Steven H. Stein sold 3,706 shares of the stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $67.94, for a total transaction of $251,785.64. Following the sale, the executive vice president owned 102,886 shares of the company’s stock, valued at $6,990,074.84. This represents a 3.48% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Sheila A. Denton sold 599 shares of the stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $68.61, for a total transaction of $41,097.39. Following the sale, the executive vice president directly owned 26,504 shares in the company, valued at approximately $1,818,439.44. This represents a 2.21% decrease in their position. The disclosure for this sale can be found here. Insiders sold 56,098 shares of company stock worth $3,836,196 in the last quarter. Insiders own 17.80% of the company’s stock.

Incyte Stock Up 0.9%

INCY opened at $83.90 on Wednesday. The firm’s 50-day simple moving average is $79.19 and its 200-day simple moving average is $69.23. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.78 and a current ratio of 2.85. Incyte Corporation has a twelve month low of $53.56 and a twelve month high of $87.99. The firm has a market cap of $16.38 billion, a price-to-earnings ratio of 19.07, a PEG ratio of 0.65 and a beta of 0.75.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on INCY. Wall Street Zen lowered shares of Incyte from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Barclays started coverage on shares of Incyte in a report on Friday, August 1st. They issued an “overweight” rating and a $90.00 price target on the stock. Citigroup boosted their price target on shares of Incyte from $88.00 to $103.00 and gave the company a “buy” rating in a report on Wednesday, July 30th. UBS Group reissued a “neutral” rating and issued a $68.00 price target (up previously from $62.00) on shares of Incyte in a report on Wednesday, July 30th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Incyte from $67.00 to $73.00 and gave the company a “neutral” rating in a report on Friday, August 22nd. Seven analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $82.53.

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.