Shell Asset Management Co. Sells 15,210 Shares of Incyte Corporation $INCY

Shell Asset Management Co. lowered its holdings in Incyte Corporation (NASDAQ:INCY) by 56.0% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 11,938 shares of the biopharmaceutical company’s stock after selling 15,210 shares during the quarter. Shell Asset Management Co.’s holdings in Incyte were worth $1,012,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Bank of Nova Scotia raised its holdings in shares of Incyte by 0.7% during the second quarter. Bank of Nova Scotia now owns 17,041 shares of the biopharmaceutical company’s stock valued at $1,160,000 after acquiring an additional 124 shares in the last quarter. MAI Capital Management boosted its holdings in Incyte by 19.9% in the second quarter. MAI Capital Management now owns 754 shares of the biopharmaceutical company’s stock valued at $51,000 after acquiring an additional 125 shares in the last quarter. Atlantic Edge Private Wealth Management LLC increased its position in Incyte by 0.9% during the 3rd quarter. Atlantic Edge Private Wealth Management LLC now owns 14,556 shares of the biopharmaceutical company’s stock valued at $1,235,000 after purchasing an additional 125 shares during the period. E Fund Management Co. Ltd. raised its holdings in Incyte by 0.8% in the 2nd quarter. E Fund Management Co. Ltd. now owns 19,912 shares of the biopharmaceutical company’s stock worth $1,356,000 after purchasing an additional 158 shares in the last quarter. Finally, Wealthfront Advisers LLC raised its holdings in Incyte by 2.4% in the 2nd quarter. Wealthfront Advisers LLC now owns 7,366 shares of the biopharmaceutical company’s stock worth $502,000 after purchasing an additional 171 shares in the last quarter. 96.97% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on INCY. Barclays lifted their target price on shares of Incyte from $115.00 to $116.00 and gave the company an “overweight” rating in a research note on Wednesday, February 4th. Morgan Stanley set a $102.00 price objective on Incyte in a research report on Wednesday, February 11th. HC Wainwright reissued a “buy” rating and issued a $135.00 target price on shares of Incyte in a research report on Wednesday, February 11th. Piper Sandler raised their target price on Incyte from $102.00 to $110.00 and gave the company an “overweight” rating in a research note on Friday, February 6th. Finally, Stifel Nicolaus upped their price target on Incyte from $119.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, February 11th. Nine research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $103.94.

Insider Buying and Selling

In other Incyte news, EVP Steven H. Stein sold 20,105 shares of Incyte stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $102.51, for a total value of $2,060,963.55. Following the completion of the transaction, the executive vice president directly owned 63,129 shares of the company’s stock, valued at approximately $6,471,353.79. The trade was a 24.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Mohamed Khairie Issa sold 10,856 shares of the stock in a transaction that occurred on Wednesday, January 7th. The shares were sold at an average price of $109.07, for a total transaction of $1,184,063.92. Following the sale, the executive vice president owned 66,132 shares in the company, valued at approximately $7,213,017.24. The trade was a 14.10% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 95,225 shares of company stock worth $9,519,745 in the last 90 days. 17.80% of the stock is owned by company insiders.

Incyte Stock Performance

Incyte stock opened at $101.10 on Tuesday. The company has a quick ratio of 3.25, a current ratio of 3.32 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $20.12 billion, a P/E ratio of 15.77, a PEG ratio of 0.80 and a beta of 0.82. The stock’s 50 day moving average is $101.81 and its 200 day moving average is $94.49. Incyte Corporation has a twelve month low of $53.56 and a twelve month high of $112.29.

Incyte (NASDAQ:INCY) last announced its quarterly earnings data on Tuesday, February 10th. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.96 by ($0.16). Incyte had a net margin of 25.03% and a return on equity of 26.34%. The company had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.35 billion. During the same quarter in the previous year, the firm posted $1.43 EPS. The firm’s quarterly revenue was up 27.8% compared to the same quarter last year. On average, equities research analysts predict that Incyte Corporation will post 4.86 earnings per share for the current fiscal year.

About Incyte

Incyte Corporation is a Wilmington, Delaware–based biopharmaceutical company focused on the discovery, development and commercialization of novel therapies in oncology and inflammation. Since its founding in 2002, Incyte has grown from a small research organization into a global enterprise, advancing a portfolio of internally developed and partnered assets. The company’s research and development efforts center on small-molecule drugs and biologics that modulate critical signaling pathways implicated in cancer, autoimmune disorders and rare diseases.

The company’s flagship product is Jakafi® (ruxolitinib), a Janus kinase (JAK) inhibitor approved for the treatment of myelofibrosis and polycythemia vera.