Strs Ohio Trims Stock Holdings in Incyte Corporation $INCY

Strs Ohio trimmed its holdings in Incyte Corporation (NASDAQ:INCY) by 87.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,783 shares of the biopharmaceutical company’s stock after selling 27,173 shares during the period. Strs Ohio’s holdings in Incyte were worth $321,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Bank of Nova Scotia boosted its position in shares of Incyte by 0.7% in the second quarter. Bank of Nova Scotia now owns 17,041 shares of the biopharmaceutical company’s stock valued at $1,160,000 after acquiring an additional 124 shares during the period. MAI Capital Management grew its position in Incyte by 19.9% during the second quarter. MAI Capital Management now owns 754 shares of the biopharmaceutical company’s stock worth $51,000 after buying an additional 125 shares in the last quarter. Atlantic Edge Private Wealth Management LLC increased its stake in Incyte by 0.9% in the 3rd quarter. Atlantic Edge Private Wealth Management LLC now owns 14,556 shares of the biopharmaceutical company’s stock worth $1,235,000 after acquiring an additional 125 shares during the last quarter. E Fund Management Co. Ltd. raised its stake in Incyte by 0.8% in the second quarter. E Fund Management Co. Ltd. now owns 19,912 shares of the biopharmaceutical company’s stock valued at $1,356,000 after purchasing an additional 158 shares in the last quarter. Finally, Wealthfront Advisers LLC lifted its position in Incyte by 2.4% during the second quarter. Wealthfront Advisers LLC now owns 7,366 shares of the biopharmaceutical company’s stock valued at $502,000 after purchasing an additional 171 shares during the last quarter. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Analyst Upgrades and Downgrades

INCY has been the topic of several recent research reports. Zacks Research lowered Incyte from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 10th. Morgan Stanley increased their price objective on Incyte from $92.00 to $94.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 6th. Piper Sandler upped their price objective on shares of Incyte from $82.00 to $102.00 and gave the stock an “overweight” rating in a report on Tuesday, November 4th. Royal Bank Of Canada raised their price objective on Incyte from $81.00 to $84.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 29th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Incyte in a research report on Thursday, January 22nd. Eight equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $100.75.

Insider Buying and Selling at Incyte

In other Incyte news, EVP Michael James Morrissey sold 4,323 shares of the stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $97.26, for a total transaction of $420,454.98. Following the completion of the sale, the executive vice president directly owned 27,507 shares of the company’s stock, valued at $2,675,330.82. This trade represents a 13.58% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Thomas Tray sold 2,774 shares of Incyte stock in a transaction that occurred on Friday, December 19th. The shares were sold at an average price of $100.00, for a total transaction of $277,400.00. Following the sale, the insider owned 22,973 shares in the company, valued at approximately $2,297,300. The trade was a 10.77% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 95,823 shares of company stock valued at $9,580,359. 17.80% of the stock is currently owned by corporate insiders.

Incyte Stock Performance

Shares of NASDAQ INCY opened at $100.07 on Monday. The stock has a market cap of $19.65 billion, a PE ratio of 16.76, a price-to-earnings-growth ratio of 0.60 and a beta of 0.82. Incyte Corporation has a 1 year low of $53.56 and a 1 year high of $112.29. The firm has a fifty day moving average price of $101.89 and a 200-day moving average price of $92.07. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.20 and a quick ratio of 3.13.

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.