Duality Advisers LP Makes New Investment in Incyte Co. (NASDAQ:INCY)

Duality Advisers LP bought a new stake in shares of Incyte Co. (NASDAQ:INCY) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 11,443 shares of the biopharmaceutical company’s stock, valued at approximately $1,190,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ballast Advisors LLC acquired a new position in Incyte in the first quarter valued at about $28,000. Simon Quick Advisors LLC bought a new stake in shares of Incyte during the 1st quarter worth approximately $38,000. Signaturefd LLC lifted its holdings in shares of Incyte by 170.9% during the 1st quarter. Signaturefd LLC now owns 558 shares of the biopharmaceutical company’s stock worth $41,000 after acquiring an additional 352 shares during the period. Pearl River Capital LLC acquired a new stake in shares of Incyte during the 1st quarter worth approximately $47,000. Finally, Parallel Advisors LLC increased its stake in Incyte by 45.7% in the first quarter. Parallel Advisors LLC now owns 682 shares of the biopharmaceutical company’s stock valued at $49,000 after acquiring an additional 214 shares during the last quarter. 91.42% of the stock is currently owned by institutional investors.

Shares of INCY stock opened at $98.76 on Friday. The business’s 50 day simple moving average is $102.52 and its 200 day simple moving average is $89.08. The company has a current ratio of 3.41, a quick ratio of 3.38 and a debt-to-equity ratio of 0.02. Incyte Co. has a one year low of $62.48 and a one year high of $110.36.

Incyte (NASDAQ:INCY) last issued its quarterly earnings results on Tuesday, May 5th. The biopharmaceutical company reported ($2.86) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.31 by ($3.17). Incyte had a negative return on equity of 12.81% and a negative net margin of 16.87%. The firm had revenue of $568.51 million during the quarter, compared to analyst estimates of $553.24 million. During the same quarter last year, the firm posted $0.62 EPS. The firm’s revenue for the quarter was up 14.2% on a year-over-year basis. As a group, equities analysts anticipate that Incyte Co. will post -1.18 EPS for the current year.

INCY has been the topic of a number of research analyst reports. Morgan Stanley raised their target price on Incyte from $94.00 to $95.00 and gave the company an “equal weight” rating in a report on Tuesday, May 12th. BidaskClub cut Incyte from a “buy” rating to a “hold” rating in a research report on Friday, July 17th. Benchmark started coverage on shares of Incyte in a report on Tuesday, June 16th. They issued a “hold” rating for the company. Nomura restated a “buy” rating and issued a $116.00 price target on shares of Incyte in a research note on Wednesday, May 6th. Finally, Argus upped their price objective on shares of Incyte from $92.00 to $124.00 and gave the stock a “buy” rating in a research report on Thursday, June 4th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and thirteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $101.45.

In other Incyte news, insider Paul Trower sold 6,943 shares of the stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $110.00, for a total transaction of $763,730.00. Following the transaction, the insider now directly owns 28,677 shares in the company, valued at approximately $3,154,470. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Dashyant Dhanak sold 961 shares of the firm’s stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $96.84, for a total transaction of $93,063.24. Following the sale, the executive vice president now directly owns 20,948 shares of the company’s stock, valued at approximately $2,028,604.32. The disclosure for this sale can be found here. Insiders have sold 250,175 shares of company stock worth $26,519,987 in the last ninety days. Insiders own 16.10% of the company’s stock.

Incyte Profile

Incyte Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of various therapeutics in the United States. The company offers JAKAFI, a drug for the treatment of myelofibrosis and polycythemia vera cancers; and Iclusig, a kinase inhibitor to treat chronic myeloid leukemia and philadelphia-chromosome positive acute lymphoblastic leukemia.

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Institutional Ownership by Quarter for Incyte (NASDAQ:INCY)

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