Guggenheim Capital LLC Sells 43,910 Shares of Incyte Co. (NASDAQ:INCY)

Guggenheim Capital LLC cut its holdings in shares of Incyte Co. (NASDAQ:INCY) by 57.7% during the 4th quarter, HoldingsChannel.com reports. The fund owned 32,148 shares of the biopharmaceutical company’s stock after selling 43,910 shares during the period. Guggenheim Capital LLC’s holdings in Incyte were worth $2,220,000 at the end of the most recent quarter.

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

Insider Buying and Selling

In other Incyte news, EVP Sheila A. Denton sold 599 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $69.99, for a total transaction of $41,924.01. Following the completion of the transaction, the executive vice president now directly owns 25,848 shares in the company, valued at $1,809,101.52. The trade was a 2.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Barry P. Flannelly sold 19,807 shares of the firm’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $67.69, for a total value of $1,340,735.83. Following the completion of the sale, the executive vice president now directly owns 33,567 shares in the company, valued at approximately $2,272,150.23. This represents a 37.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 46,827 shares of company stock valued at $3,322,618 over the last 90 days. 17.60% of the stock is owned by corporate insiders.

Incyte Stock Performance

Shares of NASDAQ INCY opened at $58.21 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.94. The firm has a market cap of $11.27 billion, a price-to-earnings ratio of 215.60, a P/E/G ratio of 0.41 and a beta of 0.89. The stock’s fifty day moving average price is $64.84 and its two-hundred day moving average price is $69.31. Incyte Co. has a one year low of $50.35 and a one year high of $83.95.

Incyte (NASDAQ:INCY) last posted its quarterly earnings data on Monday, February 10th. The biopharmaceutical company reported $1.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.48). Incyte had a net margin of 0.77% and a return on equity of 0.05%. On average, equities analysts forecast that Incyte Co. will post 4.86 EPS for the current year.

Analysts Set New Price Targets

INCY has been the subject of a number of research analyst reports. JMP Securities reaffirmed a “market perform” rating on shares of Incyte in a research note on Tuesday, February 11th. William Blair cut Incyte from an “outperform” rating to a “market perform” rating in a research report on Tuesday, March 18th. Citigroup cut their target price on Incyte from $97.00 to $88.00 and set a “buy” rating on the stock in a research note on Tuesday, February 11th. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Incyte in a research note on Friday, January 10th. Finally, Guggenheim downgraded shares of Incyte from a “buy” rating to a “neutral” rating and set a $92.00 price objective on the stock. in a report on Tuesday, March 18th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $74.88.

About Incyte

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.