Vinva Investment Management Ltd Sells 28,673 Shares of Incyte Corporation $INCY

Vinva Investment Management Ltd lessened its holdings in Incyte Corporation (NASDAQ:INCY) by 14.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 169,732 shares of the biopharmaceutical company’s stock after selling 28,673 shares during the period. Vinva Investment Management Ltd’s holdings in Incyte were worth $14,239,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Harbor Capital Advisors Inc. bought a new position in Incyte during the third quarter valued at about $26,000. Root Financial Partners LLC acquired a new position in shares of Incyte during the 3rd quarter valued at about $28,000. Quent Capital LLC acquired a new position in shares of Incyte during the 3rd quarter valued at about $30,000. MUFG Securities EMEA plc bought a new position in shares of Incyte in the 2nd quarter valued at approximately $32,000. Finally, CYBER HORNET ETFs LLC bought a new position in shares of Incyte in the 2nd quarter valued at approximately $33,000. 96.97% of the stock is currently owned by institutional investors.

Incyte Stock Performance

Shares of NASDAQ INCY opened at $95.94 on Friday. Incyte Corporation has a 12 month low of $53.56 and a 12 month high of $112.29. The company has a market cap of $19.09 billion, a P/E ratio of 14.97, a P/E/G ratio of 0.76 and a beta of 0.84. The business’s 50 day moving average is $102.28 and its two-hundred day moving average is $96.24. The company has a quick ratio of 3.25, a current ratio of 3.32 and a debt-to-equity ratio of 0.01.

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

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $90.00 target price on shares of Incyte in a research report on Thursday, January 8th. Royal Bank Of Canada dropped 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 report on Wednesday, February 11th. Piper Sandler boosted their price objective on shares of Incyte from $102.00 to $110.00 and gave the stock an “overweight” rating in a research note on Friday, February 6th. Mizuho set a $121.00 price objective on shares of Incyte and gave the stock an “outperform” rating in a report on Monday, December 8th. Finally, HC Wainwright reiterated a “buy” rating and issued a $135.00 target price on shares of Incyte in a research note on Wednesday, February 11th. Ten analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $104.00.

Insider Buying and Selling at Incyte

In other Incyte news, insider Thomas Tray sold 2,774 shares of the firm’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 sale, the insider directly owned 22,973 shares in the company, valued at $2,297,300. This trade represents a 10.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Mohamed Khairie Issa sold 10,856 shares of the business’s stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $109.07, for a total transaction of $1,184,063.92. Following the transaction, the executive vice president owned 66,132 shares in the company, valued at approximately $7,213,017.24. The trade was a 14.10% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 72,561 shares of company stock valued at $7,195,307 in the last ninety days. Company insiders own 17.80% of the company’s stock.

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.