Dodge & Cox Sells 356,460 Shares of Incyte Co. (NASDAQ:INCY)

Dodge & Cox trimmed its holdings in Incyte Co. (NASDAQ:INCY) by 2.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,919,633 shares of the biopharmaceutical company’s stock after selling 356,460 shares during the quarter. Dodge & Cox owned about 0.08% of Incyte worth $1,030,499,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Quintet Private Bank Europe S.A. bought a new position in shares of Incyte in the fourth quarter worth about $26,000. Global X Japan Co. Ltd. increased its holdings in shares of Incyte by 144.7% in the fourth quarter. Global X Japan Co. Ltd. now owns 389 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 230 shares in the last quarter. R Squared Ltd bought a new position in Incyte in the 4th quarter worth approximately $30,000. Blue Trust Inc. boosted its position in Incyte by 124.6% in the 4th quarter. Blue Trust Inc. now owns 593 shares of the biopharmaceutical company’s stock valued at $39,000 after buying an additional 329 shares during the last quarter. Finally, Bradley & Co. Private Wealth Management LLC acquired a new stake in shares of Incyte in the 4th quarter valued at $42,000. Institutional investors and hedge funds own 96.97% of the company’s stock.

Incyte Price Performance

NASDAQ INCY opened at $59.22 on Tuesday. Incyte Co. has a 12-month low of $50.35 and a 12-month high of $83.95. The firm’s 50 day moving average is $65.87 and its 200-day moving average is $69.58. The company has a market capitalization of $11.46 billion, a PE ratio of 219.34, a price-to-earnings-growth ratio of 0.41 and a beta of 0.89. The company has a quick ratio of 1.94, a current ratio of 1.97 and a debt-to-equity ratio of 0.01.

Incyte (NASDAQ:INCY) last issued its quarterly earnings results on Monday, February 10th. The biopharmaceutical company reported $1.09 EPS for the quarter, missing the consensus estimate of $1.57 by ($0.48). Incyte had a return on equity of 0.05% and a net margin of 0.77%. Equities research analysts anticipate that Incyte Co. will post 4.86 earnings per share for the current fiscal year.

Insider Activity at Incyte

In related news, EVP Barry P. Flannelly sold 19,807 shares of Incyte stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $67.69, for a total transaction of $1,340,735.83. Following the completion of the transaction, the executive vice president now owns 33,567 shares in the company, valued at approximately $2,272,150.23. This trade represents a 37.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Steven H. Stein sold 12,352 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $72.69, for a total value of $897,866.88. Following the transaction, the executive vice president now directly owns 66,967 shares in the company, valued at approximately $4,867,831.23. This trade represents a 15.57 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 46,827 shares of company stock valued at $3,322,618. Insiders own 17.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. William Blair lowered Incyte from an “outperform” rating to a “market perform” rating in a research report on Tuesday, March 18th. Wells Fargo & Company increased their price objective on shares of Incyte from $68.00 to $70.00 and gave the company an “equal weight” rating in a report on Thursday, December 19th. Citigroup lowered their target price on shares of Incyte from $97.00 to $88.00 and set a “buy” rating for the company in a report on Tuesday, February 11th. UBS Group assumed coverage on Incyte in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $77.00 price target on the stock. Finally, Guggenheim cut Incyte from a “buy” rating to a “neutral” rating and set a $92.00 price objective for the company. in a research note on Tuesday, March 18th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Incyte has a consensus rating of “Hold” and an average price target of $74.88.

Incyte Profile

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.