Bridgewater Associates LP Has $23.11 Million Stock Holdings in Incyte Co. (NASDAQ:INCY)

Bridgewater Associates LP decreased its stake in Incyte Co. (NASDAQ:INCYFree Report) by 0.6% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 368,034 shares of the biopharmaceutical company’s stock after selling 2,165 shares during the period. Bridgewater Associates LP’s holdings in Incyte were worth $23,109,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Cape Investment Advisory Inc. bought a new stake in Incyte in the fourth quarter worth approximately $25,000. Larson Financial Group LLC increased its holdings in Incyte by 4,220.0% in the fourth quarter. Larson Financial Group LLC now owns 432 shares of the biopharmaceutical company’s stock worth $27,000 after purchasing an additional 422 shares in the last quarter. Turtle Creek Wealth Advisors LLC bought a new stake in Incyte in the fourth quarter worth approximately $31,000. EverSource Wealth Advisors LLC increased its holdings in Incyte by 597.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 635 shares of the biopharmaceutical company’s stock worth $40,000 after purchasing an additional 544 shares in the last quarter. Finally, Quadrant Capital Group LLC increased its holdings in Incyte by 85.2% in the fourth quarter. Quadrant Capital Group LLC now owns 711 shares of the biopharmaceutical company’s stock worth $45,000 after purchasing an additional 327 shares in the last quarter. Institutional investors and hedge funds own 96.97% of the company’s stock.

Insiders Place Their Bets

In other Incyte news, insider Thomas Tray sold 1,093 shares of the business’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $58.91, for a total value of $64,388.63. Following the transaction, the insider now owns 21,634 shares of the company’s stock, valued at $1,274,458.94. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 17.50% of the company’s stock.

Incyte Stock Performance

INCY stock traded down $0.78 during midday trading on Tuesday, hitting $58.62. The company’s stock had a trading volume of 925,453 shares, compared to its average volume of 2,280,254. The stock’s 50-day moving average price is $55.29 and its 200 day moving average price is $58.10. The company has a quick ratio of 3.43, a current ratio of 3.47 and a debt-to-equity ratio of 0.01. Incyte Co. has a 1 year low of $50.27 and a 1 year high of $67.36. The stock has a market cap of $13.16 billion, a price-to-earnings ratio of 18.00, a PEG ratio of 1.27 and a beta of 0.74.

Incyte (NASDAQ:INCYGet Free Report) last posted its quarterly earnings data on Tuesday, April 30th. The biopharmaceutical company reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.69 by ($0.31). Incyte had a return on equity of 12.83% and a net margin of 19.78%. The business had revenue of $880.89 million during the quarter, compared to analysts’ expectations of $935.85 million. On average, equities analysts forecast that Incyte Co. will post 3.57 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have weighed in on INCY. Stifel Nicolaus lifted their target price on Incyte from $67.00 to $68.00 and gave the stock a “hold” rating in a report on Wednesday, February 14th. TD Cowen lowered their target price on Incyte from $88.00 to $80.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Jefferies Financial Group started coverage on Incyte in a report on Friday, February 23rd. They set a “buy” rating and a $81.00 price objective for the company. Citigroup decreased their price objective on Incyte from $82.00 to $81.00 and set a “buy” rating for the company in a report on Wednesday, February 14th. Finally, JMP Securities downgraded Incyte from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 14th. Ten research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Incyte has a consensus rating of “Hold” and a consensus target price of $73.69.

Get Our Latest Research Report on Incyte

Incyte Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding INCY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Incyte Co. (NASDAQ:INCYFree Report).

Institutional Ownership by Quarter for Incyte (NASDAQ:INCY)

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