Aviva PLC Reduces Position in Incyte Co. (INCY)
Aviva PLC lessened its stake in Incyte Co. (NASDAQ:INCY) by 3.0% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 84,772 shares of the biopharmaceutical company’s stock after selling 2,636 shares during the period. Aviva PLC’s holdings in Incyte were worth $5,856,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of INCY. Point72 Asset Management L.P. increased its holdings in Incyte by 2,263.0% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,299,673 shares of the biopharmaceutical company’s stock valued at $87,078,000 after purchasing an additional 1,244,673 shares during the last quarter. Rubric Capital Management LP acquired a new stake in Incyte in the 3rd quarter valued at approximately $54,894,000. First Trust Advisors LP increased its holdings in Incyte by 80.8% in the 3rd quarter. First Trust Advisors LP now owns 1,546,098 shares of the biopharmaceutical company’s stock valued at $106,804,000 after purchasing an additional 691,111 shares during the last quarter. BlackRock Inc. increased its holdings in Incyte by 4.2% in the 3rd quarter. BlackRock Inc. now owns 15,095,211 shares of the biopharmaceutical company’s stock valued at $1,042,778,000 after purchasing an additional 613,119 shares during the last quarter. Finally, Orbimed Advisors LLC acquired a new stake in Incyte in the 2nd quarter valued at approximately $29,346,000. Hedge funds and other institutional investors own 90.61% of the company’s stock.
NASDAQ:INCY opened at $64.51 on Friday. The firm has a market capitalization of $13.94 billion, a price-to-earnings ratio of 100.80 and a beta of 1.05. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.02 and a quick ratio of 4.01. Incyte Co. has a 52 week low of $58.33 and a 52 week high of $102.63.
Several analysts recently weighed in on the stock. Oppenheimer set a $70.00 target price on shares of Incyte and gave the company a “hold” rating in a report on Thursday, September 13th. BidaskClub upgraded shares of Incyte from a “hold” rating to a “buy” rating in a report on Monday, August 20th. Cantor Fitzgerald assumed coverage on shares of Incyte in a report on Monday, October 1st. They issued a “neutral” rating and a $73.00 target price for the company. Zacks Investment Research downgraded shares of Incyte from a “buy” rating to a “hold” rating in a report on Tuesday, October 16th. Finally, Guggenheim assumed coverage on shares of Incyte in a report on Monday, September 17th. They issued a “neutral” rating for the company. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $94.48.
In related news, insider Paul Trower sold 10,000 shares of the business’s stock in a transaction on Wednesday, October 3rd. The shares were sold at an average price of $70.00, for a total transaction of $700,000.00. Following the completion of the transaction, the insider now owns 24,172 shares in the company, valued at $1,692,040. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Jean Jacques Bienaime bought 1,000 shares of the stock in a transaction that occurred on Thursday, November 8th. The shares were purchased at an average price of $68.77 per share, with a total value of $68,770.00. Following the purchase, the director now owns 6,168 shares of the company’s stock, valued at approximately $424,173.36. The disclosure for this purchase can be found here. Insiders own 17.20% of the company’s stock.
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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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