Forefront Analytics LLC acquired a new stake in Incyte Corporation (NASDAQ:INCY – Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 5,091 shares of the biopharmaceutical company’s stock, valued at approximately $577,000. Incyte accounts for about 0.6% of Forefront Analytics LLC’s holdings, making the stock its 13th largest position.
A number of other large investors also recently bought and sold shares of the stock. NewEdge Advisors LLC boosted its stake in Incyte by 369.3% during the first quarter. NewEdge Advisors LLC now owns 12,597 shares of the biopharmaceutical company’s stock worth $763,000 after buying an additional 9,913 shares during the period. Jones Financial Companies Lllp raised its stake in shares of Incyte by 15.1% in the 1st quarter. Jones Financial Companies Lllp now owns 4,944 shares of the biopharmaceutical company’s stock valued at $299,000 after acquiring an additional 648 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Incyte by 6.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 814,559 shares of the biopharmaceutical company’s stock worth $49,322,000 after acquiring an additional 48,751 shares during the last quarter. United Services Automobile Association acquired a new position in shares of Incyte in the 1st quarter worth approximately $219,000. Finally, Focus Partners Wealth boosted its position in shares of Incyte by 74.1% during the 1st quarter. Focus Partners Wealth now owns 21,024 shares of the biopharmaceutical company’s stock worth $1,273,000 after purchasing an additional 8,951 shares during the period. Institutional investors and hedge funds own 96.97% of the company’s stock.
Insider Activity
In other news, insider Pablo J. Cagnoni sold 10,801 shares of the business’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $125.56, for a total transaction of $1,356,173.56. Following the completion of the transaction, the insider directly owned 183,200 shares of the company’s stock, valued at approximately $23,002,592. The trade was a 5.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Patrick A. Mayes sold 41,899 shares of the company’s stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $119.46, for a total transaction of $5,005,254.54. Following the sale, the executive vice president owned 61,441 shares in the company, valued at $7,339,741.86. The trade was a 40.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 16.20% of the company’s stock.
Wall Street Analyst Weigh In
Read Our Latest Stock Analysis on INCY
Incyte Stock Performance
Shares of NASDAQ INCY opened at $127.81 on Monday. The stock has a market cap of $25.91 billion, a P/E ratio of 16.28, a PEG ratio of 4.05 and a beta of 0.76. The business’s fifty day simple moving average is $116.17 and its 200-day simple moving average is $104.18. Incyte Corporation has a 12-month low of $81.09 and a 12-month high of $132.60.
Incyte (NASDAQ:INCY – Get Free Report) last released its earnings results on Tuesday, July 28th. The biopharmaceutical company reported $3.09 EPS for the quarter, topping the consensus estimate of $2.15 by $0.94. Incyte had a return on equity of 29.93% and a net margin of 27.71%.The firm had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.50 billion. During the same period in the previous year, the firm posted $1.57 EPS. Incyte’s revenue for the quarter was up 37.7% on a year-over-year basis. On average, equities analysts forecast that Incyte Corporation will post 2.61 EPS for the current fiscal year.
About Incyte
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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