Korea Investment CORP Has $4.25 Million Holdings in Incyte Co. (INCY)
Korea Investment CORP trimmed its stake in Incyte Co. (NASDAQ:INCY) by 51.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 63,395 shares of the biopharmaceutical company’s stock after selling 67,730 shares during the quarter. Korea Investment CORP’s holdings in Incyte were worth $4,247,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in the business. International Biotechnology Trust PLC raised its stake in shares of Incyte by 72.6% in the second quarter. International Biotechnology Trust PLC now owns 125,975 shares of the biopharmaceutical company’s stock worth $8,442,000 after purchasing an additional 53,000 shares during the last quarter. DAFNA Capital Management LLC raised its stake in shares of Incyte by 43.3% in the second quarter. DAFNA Capital Management LLC now owns 21,500 shares of the biopharmaceutical company’s stock worth $1,441,000 after purchasing an additional 6,500 shares during the last quarter. ING Groep NV raised its stake in shares of Incyte by 28.4% in the second quarter. ING Groep NV now owns 5,089 shares of the biopharmaceutical company’s stock worth $341,000 after purchasing an additional 1,125 shares during the last quarter. Commerzbank Aktiengesellschaft FI raised its stake in shares of Incyte by 9.9% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 100,024 shares of the biopharmaceutical company’s stock worth $6,702,000 after purchasing an additional 8,985 shares during the last quarter. Finally, NumerixS Investment Technologies Inc purchased a new position in shares of Incyte in the second quarter worth $1,619,000. 91.52% of the stock is currently owned by institutional investors and hedge funds.
In other Incyte news, EVP Vijay K. Iyengar sold 606 shares of the business’s stock in a transaction dated Monday, July 9th. The stock was sold at an average price of $71.34, for a total transaction of $43,232.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Paula J. Swain sold 10,000 shares of the business’s stock in a transaction dated Tuesday, August 21st. The shares were sold at an average price of $70.00, for a total value of $700,000.00. Following the sale, the executive vice president now directly owns 42,324 shares of the company’s stock, valued at approximately $2,962,680. The disclosure for this sale can be found here. In the last quarter, insiders have sold 20,606 shares of company stock valued at $1,475,332. 17.20% of the stock is owned by company insiders.
Incyte (NASDAQ:INCY) last posted its quarterly earnings data on Tuesday, July 31st. The biopharmaceutical company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.22. The company had revenue of $521.50 million during the quarter, compared to analysts’ expectations of $510.70 million. Incyte had a positive return on equity of 1.74% and a negative net margin of 5.92%. Incyte’s revenue for the quarter was up 59.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.06) earnings per share. research analysts anticipate that Incyte Co. will post 0.43 earnings per share for the current year.
INCY has been the subject of several recent analyst reports. BidaskClub upgraded Incyte from a “sell” rating to a “hold” rating in a research note on Saturday, June 23rd. JMP Securities cut Incyte from an “outperform” rating to a “market perform” rating in a research note on Wednesday, August 1st. Zacks Investment Research cut Incyte from a “buy” rating to a “hold” rating in a research note on Monday, July 23rd. Oppenheimer set a $65.00 price target on Incyte and gave the stock a “hold” rating in a research note on Friday, June 1st. Finally, Cowen restated a “buy” rating on shares of Incyte in a research note on Tuesday, July 31st. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and sixteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $100.51.
Incyte Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of proprietary therapeutics in the United States. It offers JAKAFI, a drug for the treatment of myelofibrosis and polycythemia vera cancers; and ICLUSIG, a kinase inhibitor for the treatment of chronic myeloid leukemia and philadelphia-chromosome positive acute lymphoblastic leukemia.
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