Allianz Asset Management GmbH Has $13.33 Million Holdings in Incyte Corporation $INCY

Allianz Asset Management GmbH lessened its position in shares of Incyte Corporation (NASDAQ:INCY) by 61.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 157,220 shares of the biopharmaceutical company’s stock after selling 245,493 shares during the period. Allianz Asset Management GmbH owned about 0.08% of Incyte worth $13,334,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. denkapparat Operations GmbH grew its stake in shares of Incyte by 46.1% in the second quarter. denkapparat Operations GmbH now owns 11,292 shares of the biopharmaceutical company’s stock valued at $769,000 after buying an additional 3,564 shares in the last quarter. LBP AM SA lifted its stake in Incyte by 33.6% in the third quarter. LBP AM SA now owns 238,705 shares of the biopharmaceutical company’s stock valued at $20,245,000 after acquiring an additional 59,974 shares during the last quarter. Rakuten Investment Management Inc. acquired a new stake in Incyte in the third quarter valued at $14,646,000. Massachusetts Financial Services Co. MA grew its position in shares of Incyte by 38.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 387,605 shares of the biopharmaceutical company’s stock valued at $32,873,000 after acquiring an additional 108,645 shares during the period. Finally, Callan Family Office LLC acquired a new position in shares of Incyte during the 2nd quarter worth about $636,000. 96.97% of the stock is currently owned by institutional investors.

Insider Transactions at Incyte

In other Incyte news, insider Thomas Tray sold 2,774 shares of the stock in a transaction on Friday, December 19th. The stock was sold at an average price of $100.00, for a total transaction of $277,400.00. Following the transaction, the insider owned 22,973 shares in the company, valued at $2,297,300. This trade represents a 10.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Steven H. Stein sold 20,105 shares of Incyte stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $102.51, for a total value of $2,060,963.55. Following the sale, the executive vice president directly owned 63,129 shares of the company’s stock, valued at $6,471,353.79. This represents a 24.15% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 95,225 shares of company stock valued at $9,519,745. Corporate insiders own 17.80% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on INCY. Stifel Nicolaus set a $119.00 target price on shares of Incyte in a research note on Monday, January 5th. Morgan Stanley upped their price objective on Incyte from $92.00 to $94.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 6th. HC Wainwright assumed coverage on Incyte in a research report on Thursday. They issued a “buy” rating and a $135.00 price objective for the company. Zacks Research downgraded Incyte from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 10th. Finally, Royal Bank Of Canada increased their price target on Incyte from $81.00 to $84.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 29th. Nine analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $103.29.

Incyte Price Performance

Shares of NASDAQ INCY opened at $108.39 on Friday. The firm has a market cap of $21.28 billion, a P/E ratio of 18.16, a price-to-earnings-growth ratio of 0.65 and a beta of 0.82. The business’s 50 day moving average is $101.69 and its 200-day moving average is $93.14. The company has a current ratio of 3.20, a quick ratio of 3.13 and a debt-to-equity ratio of 0.01. Incyte Corporation has a 1-year low of $53.56 and a 1-year high of $112.29.

About Incyte

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.