WINTON GROUP Ltd Trims Stake in Incyte Corporation $INCY

WINTON GROUP Ltd reduced its position in Incyte Corporation (NASDAQ:INCY) by 53.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 103,497 shares of the biopharmaceutical company’s stock after selling 121,015 shares during the quarter. WINTON GROUP Ltd’s holdings in Incyte were worth $10,222,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its position in Incyte by 11.3% in the 4th quarter. Geode Capital Management LLC now owns 4,993,012 shares of the biopharmaceutical company’s stock worth $491,500,000 after purchasing an additional 506,842 shares during the period. LSV Asset Management raised its position in Incyte by 3.2% in the 3rd quarter. LSV Asset Management now owns 3,986,097 shares of the biopharmaceutical company’s stock worth $338,061,000 after purchasing an additional 124,266 shares during the period. Arrowstreet Capital Limited Partnership raised its position in Incyte by 13.7% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 3,103,946 shares of the biopharmaceutical company’s stock worth $263,246,000 after purchasing an additional 373,298 shares during the period. Robeco Institutional Asset Management B.V. raised its position in Incyte by 7.0% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 2,480,793 shares of the biopharmaceutical company’s stock worth $245,028,000 after purchasing an additional 161,405 shares during the period. Finally, Man Group plc raised its position in Incyte by 20.0% in the 3rd quarter. Man Group plc now owns 1,933,547 shares of the biopharmaceutical company’s stock worth $163,984,000 after purchasing an additional 322,877 shares during the period. 96.97% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

INCY has been the topic of a number of research analyst reports. Morgan Stanley set a $102.00 target price on shares of Incyte in a research note on Wednesday, February 11th. Citigroup restated a “market perform” rating on shares of Incyte in a research note on Tuesday. Barclays restated an “overweight” rating on shares of Incyte in a research note on Tuesday, March 24th. Wall Street Zen downgraded shares of Incyte from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 14th. Finally, Jefferies Financial Group downgraded shares of Incyte from a “buy” rating to a “hold” rating and dropped their target price for the stock from $120.00 to $94.00 in a research note on Monday, March 16th. Nine research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $104.00.

Insider Activity

In other news, insider Pablo J. Cagnoni sold 18,667 shares of the stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $96.50, for a total transaction of $1,801,365.50. Following the transaction, the insider directly owned 262,692 shares in the company, valued at approximately $25,349,778. This trade represents a 6.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 16.20% of the company’s stock.

Incyte Price Performance

NASDAQ INCY opened at $102.38 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.60 and a current ratio of 3.68. The firm’s 50 day moving average price is $96.49 and its 200-day moving average price is $99.09. Incyte Corporation has a 52-week low of $66.74 and a 52-week high of $112.29. The company has a market cap of $20.45 billion, a PE ratio of 14.46, a P/E/G ratio of 0.98 and a beta of 0.79.

Incyte (NASDAQ:INCY) last released its quarterly earnings data on Tuesday, April 28th. The biopharmaceutical company reported $1.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.43. Incyte had a net margin of 26.71% and a return on equity of 26.66%. The firm had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.22 billion. During the same period last year, the firm earned $1.16 earnings per share. The company’s quarterly revenue was up 20.9% on a year-over-year basis. Sell-side analysts forecast that Incyte Corporation will post 6.65 EPS for the current fiscal year.

Incyte Company Profile

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.