Kentucky Retirement Systems Insurance Trust Fund Sells 489 Shares of Incyte Co. (NASDAQ:INCY)

Kentucky Retirement Systems Insurance Trust Fund lowered its stake in shares of Incyte Co. (NASDAQ:INCY) by 7.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,138 shares of the biopharmaceutical company’s stock after selling 489 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Incyte were worth $350,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Raymond James & Associates purchased a new stake in shares of Incyte during the 4th quarter valued at $2,291,000. Fifth Third Bancorp raised its position in shares of Incyte by 25.0% during the 4th quarter. Fifth Third Bancorp now owns 7,284 shares of the biopharmaceutical company’s stock valued at $457,000 after buying an additional 1,456 shares in the last quarter. Trust Point Inc. purchased a new stake in shares of Incyte during the 4th quarter valued at $712,000. Ballentine Partners LLC purchased a new position in Incyte in the 4th quarter worth $280,000. Finally, China Universal Asset Management Co. Ltd. raised its position in Incyte by 351.2% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 25,918 shares of the biopharmaceutical company’s stock worth $1,627,000 after purchasing an additional 20,174 shares during the period. Institutional investors and hedge funds own 96.97% of the company’s stock.

Analyst Ratings Changes

INCY has been the topic of a number of analyst reports. Cantor Fitzgerald reiterated a “neutral” rating on shares of Incyte in a research report on Tuesday, June 18th. StockNews.com cut shares of Incyte from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 2nd. Truist Financial reissued a “buy” rating and issued a $83.00 price target (down previously from $84.00) on shares of Incyte in a report on Wednesday, May 1st. Oppenheimer cut their price target on shares of Incyte from $84.00 to $81.00 and set an “outperform” rating on the stock in a report on Friday. Finally, BMO Capital Markets reissued an “underperform” rating and issued a $48.00 price target (down previously from $52.00) on shares of Incyte in a report on Tuesday, July 2nd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $73.25.

Incyte Stock Performance

Shares of INCY traded up $0.14 during mid-day trading on Monday, hitting $68.75. 1,273,598 shares of the company traded hands, compared to its average volume of 2,538,496. Incyte Co. has a 1 year low of $50.27 and a 1 year high of $70.36. The stock has a market cap of $15.44 billion, a price-to-earnings ratio of 20.79, a P/E/G ratio of 1.44 and a beta of 0.73. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.43 and a current ratio of 3.47. The stock has a 50-day moving average price of $61.03 and a two-hundred day moving average price of $58.64.

Incyte (NASDAQ:INCY) last announced its earnings results on Tuesday, April 30th. The biopharmaceutical company reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.31). Incyte had a net margin of 19.78% and a return on equity of 12.83%. The business had revenue of $880.89 million for the quarter, compared to analysts’ expectations of $935.85 million. Equities analysts anticipate that Incyte Co. will post 3.66 earnings per share for the current year.

Insiders Place Their Bets

In other Incyte news, EVP Barry P. Flannelly sold 1,306 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $64.19, for a total value of $83,832.14. Following the completion of the transaction, the executive vice president now directly owns 58,042 shares in the company, valued at $3,725,715.98. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, EVP Barry P. Flannelly sold 19,164 shares of the company’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $60.00, for a total transaction of $1,149,840.00. Following the completion of the transaction, the executive vice president now owns 66,377 shares in the company, valued at $3,982,620. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Barry P. Flannelly sold 1,306 shares of the company’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $64.19, for a total transaction of $83,832.14. Following the transaction, the executive vice president now owns 58,042 shares of the company’s stock, valued at approximately $3,725,715.98. The disclosure for this sale can be found here. Insiders sold a total of 29,711 shares of company stock worth $1,786,941 over the last three months. 17.50% of the stock is currently owned by company insiders.

Incyte Company Profile

Incyte Corporation, a biopharmaceutical company, engages in the discovery, development, and commercialization of therapeutics for hematology/oncology, and inflammation and autoimmunity areas in the United States and internationally. The company offers JAKAFI (ruxolitinib) for treatment of intermediate or high-risk myelofibrosis, polycythemia vera, and steroid-refractory acute graft-versus-host disease; MONJUVI (tafasitamab-cxix)/MINJUVI (tafasitamab) for relapsed or refractory diffuse large B-cell lymphoma; PEMAZYRE (pemigatinib), a fibroblast growth factor receptor kinase inhibitor that act as oncogenic drivers in liquid and solid tumor types; ICLUSIG (ponatinib) to treat chronic myeloid leukemia and Philadelphia-chromosome positive acute lymphoblastic leukemia; and ZYNYZ (retifanlimab-dlwr) to treat adults with metastatic or recurrent locally advanced Merkel cell carcinoma, as well as OPZELURA cream for treatment of atopic dermatitis.