Incyte Corporation $INCY Stake Reduced by Vinva Investment Management Ltd

Vinva Investment Management Ltd decreased its holdings in shares of Incyte Corporation (NASDAQ:INCY) by 14.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 169,732 shares of the biopharmaceutical company’s stock after selling 28,673 shares during the period. Vinva Investment Management Ltd owned approximately 0.09% of Incyte worth $14,239,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in INCY. CreativeOne Wealth LLC bought a new stake in shares of Incyte in the 3rd quarter worth approximately $299,000. Natixis Advisors LLC boosted its holdings in Incyte by 11.0% during the third quarter. Natixis Advisors LLC now owns 33,935 shares of the biopharmaceutical company’s stock worth $2,878,000 after buying an additional 3,363 shares in the last quarter. Korea Investment CORP boosted its holdings in Incyte by 190.2% during the third quarter. Korea Investment CORP now owns 229,326 shares of the biopharmaceutical company’s stock worth $19,449,000 after buying an additional 150,300 shares in the last quarter. Aptus Capital Advisors LLC acquired a new position in Incyte in the third quarter worth approximately $205,000. Finally, Dimensional Fund Advisors LP grew its position in Incyte by 15.0% in the third quarter. Dimensional Fund Advisors LP now owns 1,596,129 shares of the biopharmaceutical company’s stock worth $135,350,000 after buying an additional 208,167 shares during the last quarter. Institutional investors and hedge funds own 96.97% of the company’s stock.

Incyte Price Performance

NASDAQ INCY opened at $95.94 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.32 and a quick ratio of 3.25. The firm has a market capitalization of $19.09 billion, a price-to-earnings ratio of 14.97, a price-to-earnings-growth ratio of 0.76 and a beta of 0.84. The company has a 50 day simple moving average of $102.28 and a 200-day simple moving average of $96.24. Incyte Corporation has a 52-week low of $53.56 and a 52-week high of $112.29.

Incyte (NASDAQ:INCY) last announced its quarterly earnings data on Tuesday, February 10th. The biopharmaceutical company reported $1.80 EPS for the quarter, missing analysts’ consensus estimates of $1.96 by ($0.16). The company had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.35 billion. Incyte had a net margin of 25.03% and a return on equity of 26.34%. The business’s revenue for the quarter was up 27.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.43 earnings per share. Equities research analysts predict that Incyte Corporation will post 4.86 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on INCY. Wall Street Zen downgraded Incyte from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 14th. The Goldman Sachs Group restated a “neutral” rating and issued a $90.00 target price on shares of Incyte in a report on Thursday, January 8th. TD Cowen reaffirmed a “buy” rating on shares of Incyte in a research report on Tuesday, January 13th. Wells Fargo & Company decreased their price target on Incyte from $107.00 to $101.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 11th. Finally, Truist Financial set a $103.00 price target on Incyte in a research note on Wednesday, December 24th. Ten research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $104.00.

Insiders Place Their Bets

In related news, EVP Michael James Morrissey sold 54,008 shares of the business’s stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $97.29, for a total value of $5,254,438.32. Following the completion of the sale, the executive vice president owned 31,830 shares of the company’s stock, valued at approximately $3,096,740.70. The trade was a 62.92% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Mohamed Khairie Issa sold 10,856 shares of the stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $109.07, for a total value of $1,184,063.92. Following the completion of the transaction, the executive vice president owned 66,132 shares in the company, valued at $7,213,017.24. This represents a 14.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 72,561 shares of company stock valued at $7,195,307 in the last three months. Insiders own 17.80% of the company’s stock.

Incyte 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.