Capital Fund Management S.A. Lowers Stake in Incyte Corporation $INCY

Capital Fund Management S.A. decreased its holdings in Incyte Corporation (NASDAQ:INCY) by 26.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 241,902 shares of the biopharmaceutical company’s stock after selling 84,812 shares during the quarter. Capital Fund Management S.A. owned 0.12% of Incyte worth $20,516,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Harbor Capital Advisors Inc. acquired a new position in shares of Incyte during the 3rd quarter worth approximately $26,000. Root Financial Partners LLC acquired a new stake in Incyte in the 3rd quarter valued at $28,000. Quent Capital LLC purchased a new stake in Incyte in the 3rd quarter worth $30,000. MUFG Securities EMEA plc acquired a new position in Incyte during the second quarter worth $32,000. Finally, CYBER HORNET ETFs LLC acquired a new position in Incyte during the second quarter worth $33,000. 96.97% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Incyte news, EVP Michael James Morrissey sold 4,323 shares of the business’s stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $97.26, for a total transaction of $420,454.98. Following the transaction, the executive vice president owned 27,507 shares of the company’s stock, valued at approximately $2,675,330.82. The trade was a 13.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Thomas Tray sold 2,774 shares of the company’s stock in a transaction on Friday, December 19th. The shares were sold at an average price of $100.00, for a total value of $277,400.00. Following the completion of the sale, the insider owned 22,973 shares of the company’s stock, valued at approximately $2,297,300. The trade was a 10.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 72,561 shares of company stock worth $7,195,307 over the last ninety days. Corporate insiders own 17.80% of the company’s stock.

Incyte Stock Performance

NASDAQ:INCY opened at $94.66 on Thursday. The company has a market cap of $18.84 billion, a P/E ratio of 14.77, a P/E/G ratio of 0.76 and a beta of 0.84. Incyte Corporation has a twelve month low of $53.56 and a twelve month high of $112.29. The company’s 50-day moving average price is $102.10 and its 200-day moving average price is $96.45. The company has a current ratio of 3.32, a quick ratio of 3.25 and a debt-to-equity ratio of 0.01.

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

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Wall Street Zen lowered shares of Incyte from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 14th. Royal Bank Of Canada decreased their price target on shares of Incyte from $95.00 to $92.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 11th. Mizuho set a $121.00 price objective on Incyte and gave the stock an “outperform” rating in a report on Monday, December 8th. Weiss Ratings upgraded Incyte from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, March 2nd. Finally, Morgan Stanley set a $102.00 target price on Incyte in a report on Wednesday, February 11th. Ten equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $104.00.

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.