California State Teachers Retirement System Sells 13,722 Shares of Incyte Corporation (INCY)
California State Teachers Retirement System lessened its holdings in shares of Incyte Corporation (NASDAQ:INCY) by 4.2% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 309,984 shares of the biopharmaceutical company’s stock after selling 13,722 shares during the quarter. California State Teachers Retirement System owned approximately 0.15% of Incyte Corporation worth $39,030,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Tower Research Capital LLC TRC bought a new position in Incyte Corporation during the first quarter valued at approximately $105,000. D. Scott Neal Inc. bought a new position in Incyte Corporation during the second quarter valued at approximately $103,000. Cornerstone Advisors Inc. raised its position in Incyte Corporation by 19.6% during the second quarter. Cornerstone Advisors Inc. now owns 884 shares of the biopharmaceutical company’s stock valued at $111,000 after acquiring an additional 145 shares in the last quarter. FNY Partners Fund LP raised its position in Incyte Corporation by 4,825.0% during the first quarter. FNY Partners Fund LP now owns 985 shares of the biopharmaceutical company’s stock valued at $131,000 after acquiring an additional 965 shares in the last quarter. Finally, Exane Asset Management bought a new position in Incyte Corporation during the second quarter valued at approximately $126,000. 88.91% of the stock is currently owned by hedge funds and other institutional investors.
In related news, EVP Steven H. Stein sold 6,485 shares of the firm’s stock in a transaction on Thursday, July 20th. The stock was sold at an average price of $131.09, for a total value of $850,118.65. Following the transaction, the executive vice president now owns 19,356 shares in the company, valued at $2,537,378.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Herve Hoppenot sold 70,502 shares of the firm’s stock in a transaction on Monday, September 18th. The stock was sold at an average price of $119.45, for a total value of $8,421,463.90. The disclosure for this sale can be found here. Insiders sold 109,452 shares of company stock worth $13,707,134 in the last 90 days. 17.70% of the stock is owned by company insiders.
INCY has been the topic of several recent research reports. Gabelli reaffirmed a “buy” rating and set a $174.00 price objective on shares of Incyte Corporation in a research report on Wednesday, June 28th. BidaskClub raised shares of Incyte Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, June 27th. Jefferies Group LLC reissued a “buy” rating and issued a $148.00 price target on shares of Incyte Corporation in a research report on Tuesday, June 20th. J P Morgan Chase & Co set a $149.00 price target on shares of Incyte Corporation and gave the company a “buy” rating in a research report on Tuesday, August 1st. Finally, BMO Capital Markets reissued a “buy” rating and issued a $172.00 price target on shares of Incyte Corporation in a research report on Friday, July 21st. Seven investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $144.84.
Incyte Corporation (INCY) traded up 1.11% during midday trading on Friday, reaching $113.98. 173,253 shares of the company’s stock were exchanged. Incyte Corporation has a 12 month low of $83.01 and a 12 month high of $153.15. The company has a 50 day moving average price of $120.34 and a 200 day moving average price of $126.43. The company’s market cap is $23.45 billion.
Incyte Corporation (NASDAQ:INCY) last posted its quarterly earnings data on Tuesday, August 1st. The biopharmaceutical company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.01). The firm had revenue of $326.40 million for the quarter, compared to the consensus estimate of $318.45 million. Incyte Corporation had a negative return on equity of 21.57% and a negative net margin of 11.77%. The firm’s quarterly revenue was up 32.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.18 EPS. On average, equities analysts anticipate that Incyte Corporation will post ($0.82) EPS for the current year.
Incyte Corporation 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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