Incyte Corporation $INCY Stock Sold by Forvis Mazars Wealth Advisors LLC

by · The Markets Daily

Forvis Mazars Wealth Advisors LLC lessened its position in shares of Incyte Corporation (NASDAQ:INCY – Free Report) by 13.7% during the third quarter, Holdings Channel reports. The institutional investor owned 40,730 shares of the biopharmaceutical company’s stock after selling 6,446 shares during the quarter. Forvis Mazars Wealth Advisors LLC’s holdings in Incyte were worth $4,943,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in INCY. Contravisory Investment Management Inc. bought a new stake in Incyte in the 3rd quarter valued at about $82,000. NorthCrest Asset Manangement LLC lifted its holdings in Incyte by 13.0% during the third quarter. NorthCrest Asset Manangement LLC now owns 13,589 shares of the biopharmaceutical company’s stock valued at $1,532,000 after purchasing an additional 1,563 shares during the last quarter. Haven Capital Group Inc. boosted its position in Incyte by 3.8% during the third quarter. Haven Capital Group Inc. now owns 19,203 shares of the biopharmaceutical company’s stock worth $2,330,000 after purchasing an additional 702 shares during the period. Insight Wealth Strategies LLC boosted its position in Incyte by 1.7% during the third quarter. Insight Wealth Strategies LLC now owns 63,207 shares of the biopharmaceutical company’s stock worth $7,670,000 after purchasing an additional 1,032 shares during the period. Finally, GAMMA Investing LLC boosted its position in Incyte by 4.7% during the third quarter. GAMMA Investing LLC now owns 8,598 shares of the biopharmaceutical company’s stock worth $1,043,000 after purchasing an additional 385 shares during the period. Institutional investors own 96.97% of the company’s stock.

Incyte Trading Down 2.5%

Shares of Incyte stock traded down $2.74 during trading on Tuesday, hitting $108.62. The stock had a trading volume of 2,589,564 shares, compared to its average volume of 1,725,554. The firm has a market cap of $22.02 billion, a price-to-earnings ratio of 13.84, a P/E/G ratio of 3.60 and a beta of 0.74. Incyte Corporation has a 12 month low of $83.46 and a 12 month high of $132.60. The business’s 50-day moving average is $122.61 and its 200 day moving average is $110.34.

Incyte (NASDAQ:INCY – Get Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The biopharmaceutical company reported $3.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.94. The company had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.50 billion. Incyte had a return on equity of 29.93% and a net margin of 27.71%. The firm’s revenue was up 37.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.57 earnings per share. As a group, equities analysts expect that Incyte Corporation will post 2.40 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. TD Cowen upgraded shares of Incyte to a “strong-buy” rating in a research note on Monday, August 24th. Cantor Fitzgerald reissued a “neutral” rating on shares of Incyte in a research report on Friday, September 11th. BMO Capital Markets restated a “market perform” rating on shares of Incyte in a research note on Tuesday, September 1st. Leerink Partners raised their price objective on shares of Incyte from $131.00 to $155.00 and gave the stock an “outperform” rating in a report on Monday, August 3rd. Finally, Wall Street Zen downgraded shares of Incyte from a “buy” rating to a “hold” rating in a report on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and thirteen have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $127.70.

Get Our Latest Stock Report on INCY

Insider Activity

In other Incyte news, EVP Patrick Mayes sold 41,899 shares of the company’s stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $119.46, for a total value of $5,005,254.54. Following the transaction, the executive vice president directly owned 61,441 shares in the company, valued at $7,339,741.86. This represents a 40.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Pablo Cagnoni sold 10,801 shares of the company’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $125.56, for a total value of $1,356,173.56. Following the completion of the transaction, the insider owned 183,200 shares in the company, valued at $23,002,592. This represents a 5.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 16.20% of the stock is owned by insiders.

Incyte Profile

(Free Report)

Incyte Corporation is a biopharmaceutical company focused on discovering, developing and commercializing medicines for serious diseases, with an emphasis on oncology, hematology and inflammatory or dermatologic conditions. The company conducts research through internal programs and collaborations with academic institutions, biotechnology companies and pharmaceutical partners.

Incyte’s marketed portfolio includes Jakafi (ruxolitinib), a JAK inhibitor used in the United States for certain myelofibrosis, polycythemia vera and graft-versus-host disease indications, and Opzelura (ruxolitinib) cream for certain inflammatory skin conditions.

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