Old Mutual Global Investors UK Ltd. cut its position in shares of Incyte Co. (NASDAQ:INCY) by 40.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 552,406 shares of the biopharmaceutical company’s stock after selling 377,913 shares during the quarter. Old Mutual Global Investors UK Ltd.’s holdings in Incyte were worth $52,318,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of INCY. Manning & Napier Advisors LLC purchased a new stake in Incyte in the third quarter valued at approximately $125,065,000. Jennison Associates LLC grew its holdings in Incyte by 24.3% in the third quarter. Jennison Associates LLC now owns 1,633,173 shares of the biopharmaceutical company’s stock valued at $190,657,000 after purchasing an additional 319,191 shares during the period. Pictet Asset Management Ltd. grew its holdings in Incyte by 27.4% in the third quarter. Pictet Asset Management Ltd. now owns 1,055,743 shares of the biopharmaceutical company’s stock valued at $123,247,000 after purchasing an additional 227,088 shares during the period. Point72 Asset Management L.P. grew its holdings in Incyte by 723.0% in the third quarter. Point72 Asset Management L.P. now owns 164,600 shares of the biopharmaceutical company’s stock valued at $19,215,000 after purchasing an additional 144,600 shares during the period. Finally, Capital Bank & Trust Co grew its holdings in Incyte by 18.9% in the third quarter. Capital Bank & Trust Co now owns 830,688 shares of the biopharmaceutical company’s stock valued at $96,975,000 after purchasing an additional 132,292 shares during the period. Institutional investors and hedge funds own 90.02% of the company’s stock.

A number of equities research analysts recently issued reports on the stock. Nomura restated a “buy” rating on shares of Incyte in a report on Thursday, February 1st. BidaskClub downgraded shares of Incyte from a “sell” rating to a “strong sell” rating in a report on Thursday, February 1st. Oppenheimer restated a “hold” rating and issued a $110.00 target price (down from $120.00) on shares of Incyte in a report on Monday, January 22nd. BMO Capital Markets restated a “buy” rating and issued a $172.00 target price on shares of Incyte in a report on Wednesday, January 3rd. Finally, Zacks Investment Research cut shares of Incyte from a “hold” rating to a “sell” rating in a research report on Tuesday, January 2nd. Three analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $143.25.

Incyte Co. (NASDAQ INCY) opened at $88.03 on Wednesday. Incyte Co. has a 12-month low of $80.85 and a 12-month high of $153.15. The company has a current ratio of 4.82, a quick ratio of 4.81 and a debt-to-equity ratio of 0.01.

In related news, insider David W. Gryska sold 6,760 shares of the company’s stock in a transaction on Friday, January 5th. The shares were sold at an average price of $98.87, for a total value of $668,361.20. Following the sale, the insider now directly owns 20,752 shares of the company’s stock, valued at $2,051,750.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Paul A. Friedman sold 28,507 shares of the company’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $105.24, for a total transaction of $3,000,076.68. The disclosure for this sale can be found here. Over the last three months, insiders have sold 40,963 shares of company stock worth $4,222,953. Corporate insiders own 17.70% of the company’s stock.

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Incyte 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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Institutional Ownership by Quarter for Incyte (NASDAQ:INCY)

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