Incyte Co. (INCY) Stake Lowered by Shell Asset Management Co.
Shell Asset Management Co. lessened its position in Incyte Co. (NASDAQ:INCY) by 17.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 12,609 shares of the biopharmaceutical company’s stock after selling 2,686 shares during the period. Shell Asset Management Co.’s holdings in Incyte were worth $871,000 as of its most recent filing with the SEC.
Several other large investors have also recently modified their holdings of the company. NuWave Investment Management LLC lifted its position in Incyte by 19,237.5% during the 3rd quarter. NuWave Investment Management LLC now owns 1,547 shares of the biopharmaceutical company’s stock worth $107,000 after buying an additional 1,539 shares in the last quarter. Resources Investment Advisors Inc. lifted its position in Incyte by 93.8% during the 2nd quarter. Resources Investment Advisors Inc. now owns 1,738 shares of the biopharmaceutical company’s stock worth $116,000 after buying an additional 841 shares in the last quarter. Qube Research & Technologies Ltd acquired a new position in Incyte during the 2nd quarter worth about $161,000. Seven Eight Capital LP acquired a new position in Incyte during the 3rd quarter worth about $202,000. Finally, Huntington National Bank acquired a new position in Incyte during the 3rd quarter worth about $240,000. Institutional investors own 90.61% of the company’s stock.
Several analysts have weighed in on the company. Argus set a $83.00 price objective on Incyte and gave the stock a “buy” rating in a report on Thursday, August 30th. BidaskClub raised Incyte from a “buy” rating to a “strong-buy” rating in a report on Friday, August 31st. Cowen reissued a “buy” rating on shares of Incyte in a report on Tuesday, September 4th. Cantor Fitzgerald assumed coverage on Incyte in a report on Monday, October 1st. They set a “neutral” rating and a $73.00 price objective for the company. Finally, ValuEngine raised Incyte from a “strong sell” rating to a “sell” rating in a report on Tuesday, October 2nd. One investment 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. The stock currently has an average rating of “Buy” and an average target price of $94.48.
Incyte (NASDAQ:INCY) last posted its earnings results on Tuesday, October 30th. The biopharmaceutical company reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.02). Incyte had a positive return on equity of 2.23% and a negative net margin of 6.07%. The business had revenue of $449.68 million for the quarter, compared to the consensus estimate of $448.34 million. During the same period in the previous year, the company posted $0.19 earnings per share. Incyte’s revenue for the quarter was up 17.9% compared to the same quarter last year. As a group, sell-side analysts expect that Incyte Co. will post 0.43 earnings per share for the current year.
In related news, Director Jean Jacques Bienaime acquired 1,000 shares of the business’s stock in a transaction dated Thursday, November 8th. The stock was bought at an average price of $68.77 per share, with a total value of $68,770.00. Following the acquisition, the director now owns 6,168 shares in the company, valued at approximately $424,173.36. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul Trower sold 10,000 shares of the stock in a transaction that occurred on Wednesday, October 3rd. The shares were sold at an average price of $70.00, for a total value of $700,000.00. Following the completion of the sale, the insider now directly owns 24,172 shares of the company’s stock, valued at approximately $1,692,040. The disclosure for this sale can be found here. Corporate 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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