Andra AP fonden lessened its holdings in shares of Incyte Co. (NASDAQ:INCY) by 20.8% during the 3rd quarter, Holdings Channel reports. The firm owned 53,300 shares of the biopharmaceutical company’s stock after selling 14,000 shares during the period. Andra AP fonden’s holdings in Incyte were worth $3,682,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in INCY. Resources Investment Advisors Inc. grew its holdings in shares of Incyte by 93.8% during the second quarter. Resources Investment Advisors Inc. now owns 1,738 shares of the biopharmaceutical company’s stock worth $116,000 after purchasing an additional 841 shares during the last quarter. First Mercantile Trust Co. grew its holdings in shares of Incyte by 75.8% during the second quarter. First Mercantile Trust Co. now owns 2,157 shares of the biopharmaceutical company’s stock worth $145,000 after purchasing an additional 930 shares during the last quarter. Qube Research & Technologies Ltd bought a new stake in shares of Incyte during the second quarter worth $161,000. Addison Capital Co bought a new stake in shares of Incyte during the third quarter worth $244,000. Finally, Blackhawk Capital Partners LLC. grew its holdings in shares of Incyte by 133.0% during the second quarter. Blackhawk Capital Partners LLC. now owns 3,670 shares of the biopharmaceutical company’s stock worth $246,000 after purchasing an additional 2,095 shares during the last quarter. Institutional investors own 91.78% of the company’s stock.
Incyte stock opened at $63.95 on Friday. The stock has a market capitalization of $13.86 billion, a P/E ratio of 99.92 and a beta of 1.12. Incyte Co. has a 12-month low of $60.22 and a 12-month high of $117.95. The company has a current ratio of 4.34, a quick ratio of 4.32 and a debt-to-equity ratio of 0.01.
In other Incyte news, EVP Paula J. Swain sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, August 21st. The stock was sold at an average price of $70.00, for a total transaction of $700,000.00. Following the transaction, the executive vice president now owns 42,324 shares in the company, valued at $2,962,680. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Barry P. Flannelly sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, October 3rd. The stock was sold at an average price of $70.00, for a total value of $70,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 31,000 shares of company stock worth $2,202,100. 17.20% of the stock is owned by company insiders.
Several analysts have recently commented on INCY shares. BidaskClub cut Incyte from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 8th. ValuEngine upgraded Incyte from a “strong sell” rating to a “sell” rating in a report on Tuesday, October 2nd. JMP Securities cut Incyte from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 1st. Zacks Investment Research cut Incyte from a “buy” rating to a “hold” rating in a report on Monday, July 23rd. Finally, Cantor Fitzgerald started coverage on Incyte in a report on Monday, October 1st. They set a “neutral” rating and a $73.00 target price on the stock. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and fourteen have assigned a buy rating to the company. Incyte presently has an average rating of “Buy” and a consensus target price of $94.48.
Incyte Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of proprietary therapeutics in the United States. It offers JAKAFI, a drug for the treatment of myelofibrosis and polycythemia vera cancers; and ICLUSIG, a kinase inhibitor for the treatment of chronic myeloid leukemia and philadelphia-chromosome positive acute lymphoblastic leukemia.
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