Incyte Corporation (INCY) Stake Cut by Shell Asset Management Co.
Shell Asset Management Co. decreased its position in shares of Incyte Corporation (NASDAQ:INCY) by 1.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,400 shares of the biopharmaceutical company’s stock after selling 302 shares during the period. Shell Asset Management Co.’s holdings in Incyte Corporation were worth $2,317,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. D. Scott Neal Inc. bought a new stake in shares of Incyte Corporation during the second quarter worth about $103,000. Tower Research Capital LLC TRC acquired a new stake in Incyte Corporation during the first quarter worth $105,000. Cornerstone Advisors Inc. raised its stake in Incyte Corporation by 19.6% in the second quarter. Cornerstone Advisors Inc. now owns 884 shares of the biopharmaceutical company’s stock worth $111,000 after buying an additional 145 shares during the period. Exane Asset Management acquired a new stake in Incyte Corporation during the second quarter worth $126,000. Finally, FNY Partners Fund LP raised its stake in Incyte Corporation by 4,825.0% in the first quarter. FNY Partners Fund LP now owns 985 shares of the biopharmaceutical company’s stock worth $131,000 after buying an additional 965 shares during the period. 91.73% of the stock is owned by hedge funds and other institutional investors.
Incyte Corporation (INCY) traded up 1.62% during trading on Friday, hitting $124.10. 898,025 shares of the stock traded hands. The company’s market cap is $25.53 billion. The company’s 50 day moving average price is $130.96 and its 200 day moving average price is $129.40. Incyte Corporation has a 12 month low of $75.52 and a 12 month high of $153.15.
Incyte Corporation (NASDAQ:INCY) last posted its earnings results on Tuesday, August 1st. The biopharmaceutical company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.05) by $0.01. The business had revenue of $326.40 million for the quarter, compared to analysts’ expectations of $318.45 million. Incyte Corporation had a negative return on equity of 21.57% and a negative net margin of 11.77%. Incyte Corporation’s revenue for the quarter was up 32.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.18 EPS. On average, equities research analysts anticipate that Incyte Corporation will post ($0.89) EPS for the current fiscal year.
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A number of analysts recently weighed in on INCY shares. Goldman Sachs Group, Inc. (The) lowered their price objective on shares of Incyte Corporation from $149.00 to $136.00 and set a “buy” rating for the company in a research note on Tuesday, April 18th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $148.00 price objective (down from $165.00) on shares of Incyte Corporation in a research note on Monday, April 17th. Credit Suisse Group set a $167.00 price objective on shares of Incyte Corporation and gave the stock a “buy” rating in a research note on Wednesday, April 19th. SunTrust Banks, Inc. lowered their price objective on shares of Incyte Corporation from $160.00 to $145.00 and set a “buy” rating for the company in a research note on Wednesday, April 19th. Finally, Cowen and Company reaffirmed a “buy” rating on shares of Incyte Corporation in a research note on Friday, May 5th. Seven analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $140.39.
In other Incyte Corporation news, CFO David W. Gryska sold 16,756 shares of the business’s stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $116.60, for a total value of $1,953,749.60. Following the completion of the sale, the chief financial officer now owns 35,771 shares in the company, valued at $4,170,898.60. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Paul Trower sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $125.25, for a total value of $375,750.00. Following the completion of the sale, the insider now owns 11,853 shares of the company’s stock, valued at approximately $1,484,588.25. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 48,183 shares of company stock valued at $5,976,946. 17.70% of the stock is owned by company insiders.
Incyte Corporation Company Profile
Incyte Corporation is a biopharmaceutical company focused on the discovery, development and commercialization of therapeutics. Its portfolio includes compounds in various stages, ranging from preclinical to late-stage development, and commercialized products, such as JAKAFI (ruxolitinib) and ICLUSIG (ponatinib).
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