C WorldWide Group Holding A S Reduces Stake in Incyte Corporation (INCY)
C WorldWide Group Holding A S lowered its position in Incyte Corporation (NASDAQ:INCY) by 10.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 123,724 shares of the biopharmaceutical company’s stock after selling 13,844 shares during the period. C WorldWide Group Holding A S’s holdings in Incyte Corporation were worth $15,578,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in the company. Macquarie Group Ltd. increased its stake in shares of Incyte Corporation by 156.6% in the fourth quarter. Macquarie Group Ltd. now owns 107,073 shares of the biopharmaceutical company’s stock valued at $10,736,000 after buying an additional 65,344 shares in the last quarter. Exxonmobil Investment Management Inc. TX bought a new stake in shares of Incyte Corporation during the first quarter valued at $5,229,000. Gulf International Bank UK Ltd increased its stake in shares of Incyte Corporation by 1.5% in the first quarter. Gulf International Bank UK Ltd now owns 52,125 shares of the biopharmaceutical company’s stock valued at $6,967,000 after buying an additional 750 shares in the last quarter. Bank of Montreal Can increased its stake in shares of Incyte Corporation by 94.2% in the first quarter. Bank of Montreal Can now owns 153,717 shares of the biopharmaceutical company’s stock valued at $20,546,000 after buying an additional 74,580 shares in the last quarter. Finally, Capstone Asset Management Co. increased its stake in shares of Incyte Corporation by 311.7% in the first quarter. Capstone Asset Management Co. now owns 20,855 shares of the biopharmaceutical company’s stock valued at $2,788,000 after buying an additional 15,790 shares in the last quarter. Institutional investors and hedge funds own 91.73% of the company’s stock.
Shares of Incyte Corporation (NASDAQ INCY) opened at 122.12 on Friday. The stock’s market cap is $25.12 billion. The company’s 50-day moving average price is $131.29 and its 200-day moving average price is $129.35. Incyte Corporation has a 52-week low of $75.52 and a 52-week high of $153.15.
Incyte Corporation (NASDAQ:INCY) last posted its quarterly earnings results on Tuesday, August 1st. The biopharmaceutical company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.05) by $0.01. The business had revenue of $326.40 million for the quarter, compared to analyst estimates of $318.45 million. Incyte Corporation had a negative net margin of 11.77% and a negative return on equity of 21.57%. The firm’s quarterly revenue was up 32.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.18 earnings per share. Analysts expect that Incyte Corporation will post ($0.89) earnings per share for the current year.
Several equities research analysts recently weighed in on INCY shares. Piper Jaffray Companies reaffirmed a “neutral” rating and set a $124.00 price target on shares of Incyte Corporation in a report on Monday, April 17th. Jefferies Group LLC reaffirmed a “buy” rating and set a $148.00 price target (down from $165.00) on shares of Incyte Corporation in a report on Monday, April 17th. Raymond James Financial, Inc. reaffirmed a “hold” rating on shares of Incyte Corporation in a report on Monday, April 17th. Vetr raised Incyte Corporation from a “buy” rating to a “strong-buy” rating and set a $151.58 target price for the company in a report on Monday, April 17th. Finally, Goldman Sachs Group, Inc. (The) reduced their target price on Incyte Corporation from $149.00 to $136.00 and set a “buy” rating for the company in a report on Tuesday, April 18th. Seven equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $140.39.
In related news, CFO David W. Gryska sold 16,756 shares of the company’s stock in a transaction on Monday, June 12th. The stock was sold at an average price of $116.60, for a total transaction of $1,953,749.60. Following the transaction, the chief financial officer now directly owns 35,771 shares of the company’s stock, valued at $4,170,898.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul Trower sold 3,000 shares of the company’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $125.25, for a total value of $375,750.00. Following the transaction, the insider now directly owns 11,853 shares in the company, valued at $1,484,588.25. The disclosure for this sale can be found here. Insiders have sold 48,183 shares of company stock worth $5,976,946 over the last three months. 17.70% of the stock is owned by insiders.
Incyte Corporation Company Profile
Incyte Corporation is a biopharmaceutical company focused on the discovery, development and commercialization of therapeutics. Its portfolio includes compounds in various stages, ranging from preclinical to late-stage development, and commercialized products, such as JAKAFI (ruxolitinib) and ICLUSIG (ponatinib).
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