Hussman Strategic Advisors Inc. Has $2.67 Million Stock Position in Incyte Corporation $INCY

Hussman Strategic Advisors Inc. reduced its position in shares of Incyte Corporation (NASDAQ:INCY) by 50.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 31,500 shares of the biopharmaceutical company’s stock after selling 31,500 shares during the period. Hussman Strategic Advisors Inc.’s holdings in Incyte were worth $2,672,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in INCY. NewEdge Advisors LLC increased its holdings in shares of Incyte by 369.3% during the first quarter. NewEdge Advisors LLC now owns 12,597 shares of the biopharmaceutical company’s stock worth $763,000 after buying an additional 9,913 shares in the last quarter. Jones Financial Companies Lllp grew its position in Incyte by 15.1% during the 1st quarter. Jones Financial Companies Lllp now owns 4,944 shares of the biopharmaceutical company’s stock worth $299,000 after acquiring an additional 648 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Incyte by 6.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 814,559 shares of the biopharmaceutical company’s stock valued at $49,322,000 after purchasing an additional 48,751 shares in the last quarter. United Services Automobile Association bought a new position in Incyte in the 1st quarter valued at $219,000. Finally, Focus Partners Wealth raised its position in Incyte by 74.1% in the 1st quarter. Focus Partners Wealth now owns 21,024 shares of the biopharmaceutical company’s stock valued at $1,273,000 after purchasing an additional 8,951 shares during the last quarter. 96.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Incyte

In other Incyte news, EVP Michael James Morrissey sold 54,008 shares of the firm’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $97.29, for a total transaction of $5,254,438.32. Following the transaction, the executive vice president owned 31,830 shares in the company, valued at approximately $3,096,740.70. This trade represents a 62.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Lee Heeson sold 3,074 shares of the company’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $94.02, for a total value of $289,017.48. Following the completion of the sale, the executive vice president directly owned 29,241 shares of the company’s stock, valued at approximately $2,749,238.82. This trade represents a 9.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 98,897 shares of company stock valued at $9,869,376. Corporate insiders own 17.80% of the company’s stock.

Analysts Set New Price Targets

INCY has been the subject of a number of research reports. Zacks Research lowered Incyte from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 10th. Weiss Ratings restated a “hold (c+)” rating on shares of Incyte in a research report on Thursday, January 22nd. Oppenheimer lowered shares of Incyte from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 8th. Wall Street Zen raised shares of Incyte from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 1st. Finally, Piper Sandler boosted their price objective on shares of Incyte from $82.00 to $102.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 4th. Eight analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $100.75.

Incyte Price Performance

INCY opened at $103.47 on Wednesday. The company has a fifty day moving average price of $101.95 and a two-hundred day moving average price of $91.40. The firm has a market capitalization of $20.31 billion, a PE ratio of 17.33, a P/E/G ratio of 0.61 and a beta of 0.82. Incyte Corporation has a 52 week low of $53.56 and a 52 week high of $112.29. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.13 and a current ratio of 3.20.

Incyte (NASDAQ:INCY) last posted its quarterly earnings results on Tuesday, October 28th. The biopharmaceutical company reported $2.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.65 by $0.61. Incyte had a return on equity of 26.56% and a net margin of 24.69%.The company had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter in the prior year, the business posted $1.07 EPS. The firm’s quarterly revenue was up 20.0% on a year-over-year basis. As a group, analysts anticipate that Incyte Corporation will post 4.86 earnings per share for the current year.

Incyte Profile

Incyte Corporation is a Wilmington, Delaware–based biopharmaceutical company focused on the discovery, development and commercialization of novel therapies in oncology and inflammation. Since its founding in 2002, Incyte has grown from a small research organization into a global enterprise, advancing a portfolio of internally developed and partnered assets. The company’s research and development efforts center on small-molecule drugs and biologics that modulate critical signaling pathways implicated in cancer, autoimmune disorders and rare diseases.

The company’s flagship product is Jakafi® (ruxolitinib), a Janus kinase (JAK) inhibitor approved for the treatment of myelofibrosis and polycythemia vera.