Cigna Investments Inc. New Sells 549 Shares of Incyte Corporation (INCY)
Cigna Investments Inc. New lowered its stake in Incyte Corporation (NASDAQ:INCY) by 7.7% during the second quarter, Holdings Channel reports. The institutional investor owned 6,612 shares of the biopharmaceutical company’s stock after selling 549 shares during the period. Cigna Investments Inc. New’s holdings in Incyte Corporation were worth $833,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. State of Alaska Department of Revenue purchased a new position in Incyte Corporation during the first quarter valued at $290,000. Hartford Investment Management Co. boosted its position in Incyte Corporation by 1,701.9% in the first quarter. Hartford Investment Management Co. now owns 39,587 shares of the biopharmaceutical company’s stock valued at $5,292,000 after buying an additional 37,390 shares in the last quarter. Quantitative Systematic Strategies LLC purchased a new position in Incyte Corporation during the first quarter valued at $258,000. Nisa Investment Advisors LLC boosted its position in Incyte Corporation by 42.0% in the first quarter. Nisa Investment Advisors LLC now owns 28,960 shares of the biopharmaceutical company’s stock valued at $3,871,000 after buying an additional 8,560 shares in the last quarter. Finally, Boston Advisors LLC boosted its position in Incyte Corporation by 23.4% in the first quarter. Boston Advisors LLC now owns 163,480 shares of the biopharmaceutical company’s stock valued at $21,852,000 after buying an additional 31,025 shares in the last quarter. 91.73% of the stock is owned by institutional investors.
Shares of Incyte Corporation (NASDAQ INCY) opened at 124.10 on Friday. The firm’s market capitalization is $25.53 billion. The stock has a 50 day moving average price of $130.96 and a 200-day moving average price of $129.40. Incyte Corporation has a 52-week low of $75.52 and a 52-week high of $153.15.
Incyte Corporation (NASDAQ:INCY) last announced its earnings results on Tuesday, August 1st. The biopharmaceutical company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by $0.01. Incyte Corporation had a negative return on equity of 21.57% and a negative net margin of 11.77%. The business had revenue of $326.40 million during the quarter, compared to analysts’ expectations of $318.45 million. During the same quarter in the previous year, the firm earned $0.18 EPS. Incyte Corporation’s quarterly revenue was up 32.5% on a year-over-year basis. Equities analysts forecast that Incyte Corporation will post ($0.89) EPS for the current year.
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Several research firms have recently weighed in on INCY. Jefferies Group LLC reaffirmed a “buy” rating and set a $148.00 price objective (down from $165.00) on shares of Incyte Corporation in a research report on Monday, April 17th. Raymond James Financial, Inc. reaffirmed a “hold” rating on shares of Incyte Corporation in a research report on Monday, April 17th. Piper Jaffray Companies reaffirmed a “neutral” rating and set a $124.00 price objective on shares of Incyte Corporation in a research report on Monday, April 17th. BidaskClub raised Incyte Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, June 27th. Finally, Zacks Investment Research raised Incyte Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, May 23rd. Seven investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $140.39.
In other news, CFO David W. Gryska sold 16,756 shares of the business’s stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $116.60, for a total value of $1,953,749.60. Following the transaction, the chief financial officer now owns 35,771 shares in the company, valued at approximately $4,170,898.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jean Jacques Bienaime bought 500 shares of the business’s stock in a transaction dated Monday, May 15th. The stock was acquired at an average price of $115.00 per share, for a total transaction of $57,500.00. Following the purchase, the director now directly owns 4,177 shares in the company, valued at $480,355. The disclosure for this purchase can be found here. Insiders sold a total of 48,183 shares of company stock worth $5,976,946 in the last 90 days. Company insiders own 17.70% of the company’s stock.
Incyte Corporation Company Profile
Incyte Corporation is a biopharmaceutical company focused on the discovery, development and commercialization of therapeutics. Its portfolio includes compounds in various stages, ranging from preclinical to late-stage development, and commercialized products, such as JAKAFI (ruxolitinib) and ICLUSIG (ponatinib).
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