Incyte Corporation $INCY Shares Sold by Koss Olinger Consulting LLC

Koss Olinger Consulting LLC cut its stake in shares of Incyte Corporation (NASDAQ:INCY) by 49.3% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 21,677 shares of the biopharmaceutical company’s stock after selling 21,109 shares during the period. Koss Olinger Consulting LLC’s holdings in Incyte were worth $2,141,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Forsta AP Fonden lifted its position in Incyte by 1.2% during the 4th quarter. Forsta AP Fonden now owns 32,900 shares of the biopharmaceutical company’s stock worth $3,250,000 after acquiring an additional 400 shares in the last quarter. Norges Bank acquired a new position in shares of Incyte in the 4th quarter valued at approximately $122,893,000. Eurizon Capital SGR S.p.A. acquired a new position in shares of Incyte in the 4th quarter valued at approximately $16,235,000. Fideuram Asset Management Ireland dac acquired a new position in shares of Incyte in the 4th quarter valued at approximately $3,070,000. Finally, National Pension Service raised its position in shares of Incyte by 151.3% in the 4th quarter. National Pension Service now owns 46,479 shares of the biopharmaceutical company’s stock valued at $4,591,000 after purchasing an additional 27,984 shares in the last quarter. 96.97% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Incyte

In other news, insider Pablo J. Cagnoni sold 18,667 shares of the business’s stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $96.50, for a total value of $1,801,365.50. Following the completion of the sale, the insider directly owned 262,692 shares in the company, valued at approximately $25,349,778. The trade was a 6.63% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 16.20% of the company’s stock.

Incyte Stock Performance

Shares of INCY opened at $96.74 on Friday. Incyte Corporation has a 52-week low of $63.92 and a 52-week high of $112.29. The company has a quick ratio of 3.60, a current ratio of 3.68 and a debt-to-equity ratio of 0.01. The firm has a market cap of $19.33 billion, a price-to-earnings ratio of 13.66, a PEG ratio of 0.93 and a beta of 0.79. The business’s 50 day moving average is $95.84 and its two-hundred day moving average is $99.39.

Incyte (NASDAQ:INCY) last issued its quarterly earnings results on Tuesday, April 28th. The biopharmaceutical company reported $1.81 earnings per share for the quarter, beating analysts’ consensus estimates of $1.38 by $0.43. Incyte had a return on equity of 26.66% and a net margin of 26.71%.The business had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same period in the previous year, the business earned $1.16 EPS. The business’s quarterly revenue was up 20.9% on a year-over-year basis. Analysts forecast that Incyte Corporation will post 6.74 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have issued reports on INCY shares. Weiss Ratings raised Incyte from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, April 1st. Piper Sandler upped their target price on Incyte from $102.00 to $110.00 and gave the company an “overweight” rating in a research report on Friday, February 6th. Morgan Stanley set a $102.00 target price on Incyte in a research report on Wednesday, February 11th. UBS Group cut their target price on Incyte from $104.00 to $94.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 25th. Finally, Wall Street Zen lowered Incyte from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 14th. Ten equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $104.00.

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.