Ieq Capital LLC grew its stake in Incyte Corporation (NASDAQ:INCY – Free Report) by 6.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 525,172 shares of the biopharmaceutical company’s stock after purchasing an additional 30,103 shares during the quarter. Ieq Capital LLC’s holdings in Incyte were worth $51,871,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of INCY. Vontobel Holding Ltd. lifted its holdings in Incyte by 108.0% during the fourth quarter. Vontobel Holding Ltd. now owns 9,314 shares of the biopharmaceutical company’s stock worth $920,000 after acquiring an additional 4,836 shares during the period. Martingale Asset Management L P lifted its holdings in Incyte by 161.0% during the fourth quarter. Martingale Asset Management L P now owns 157,614 shares of the biopharmaceutical company’s stock worth $15,568,000 after acquiring an additional 97,232 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Incyte by 4.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,574,718 shares of the biopharmaceutical company’s stock worth $155,535,000 after acquiring an additional 71,133 shares during the period. Wells Fargo & Company MN lifted its holdings in Incyte by 44.0% during the fourth quarter. Wells Fargo & Company MN now owns 294,078 shares of the biopharmaceutical company’s stock worth $29,046,000 after acquiring an additional 89,856 shares during the period. Finally, Banco Santander S.A. bought a new stake in Incyte during the fourth quarter worth $551,000. Institutional investors own 96.97% of the company’s stock.
Incyte Stock Performance
NASDAQ:INCY opened at $108.53 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.68 and a quick ratio of 3.60. The business has a fifty day simple moving average of $97.78 and a two-hundred day simple moving average of $99.18. Incyte Corporation has a 1 year low of $66.74 and a 1 year high of $112.29. The company has a market capitalization of $21.68 billion, a P/E ratio of 15.33, a P/E/G ratio of 1.05 and a beta of 0.79.
Insider Transactions at Incyte
In other Incyte news, insider Pablo J. Cagnoni sold 18,667 shares of the firm’s stock in a transaction on Friday, April 17th. The stock was sold at an average price of $96.50, for a total value of $1,801,365.50. Following the completion of the sale, the insider directly owned 262,692 shares of the company’s stock, valued at $25,349,778. This trade represents a 6.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 16.20% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth
A number of brokerages recently commented on INCY. Jefferies Financial Group lowered Incyte from a “buy” rating to a “hold” rating and dropped their price target for the stock from $120.00 to $94.00 in a report on Monday, March 16th. TD Cowen reiterated a “hold” rating on shares of Incyte in a report on Tuesday. Barclays reiterated an “overweight” rating on shares of Incyte in a report on Tuesday, March 24th. Wall Street Zen lowered Incyte from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 14th. Finally, UBS Group dropped their price target on Incyte from $104.00 to $94.00 and set a “neutral” rating on the stock in a report on Wednesday, March 25th. Eight research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Incyte has an average rating of “Hold” and an average price target of $105.10.
Read Our Latest Analysis on Incyte
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.
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