Vontobel Holding Ltd. Sells 845 Shares of Incyte Co. (NASDAQ:INCY)

Vontobel Holding Ltd. cut its position in shares of Incyte Co. (NASDAQ:INCY) by 6.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,411 shares of the biopharmaceutical company’s stock after selling 845 shares during the period. Vontobel Holding Ltd.’s holdings in Incyte were worth $820,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Wellington Management Group LLP lifted its holdings in shares of Incyte by 48.8% during the 4th quarter. Wellington Management Group LLP now owns 131,649 shares of the biopharmaceutical company’s stock worth $8,266,000 after acquiring an additional 43,160 shares during the period. Nomura Holdings Inc. acquired a new stake in Incyte in the fourth quarter worth $235,000. Mather Group LLC. bought a new position in shares of Incyte in the first quarter valued at $54,000. Gateway Investment Advisers LLC bought a new position in shares of Incyte in the first quarter valued at $205,000. Finally, Riverview Trust Co bought a new position in shares of Incyte in the first quarter valued at $29,000. Institutional investors and hedge funds own 96.97% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Bank of America raised their price target on Incyte from $66.00 to $68.00 and gave the stock a “neutral” rating in a report on Monday, September 16th. Wells Fargo & Company cut their target price on shares of Incyte from $63.00 to $62.00 and set an “equal weight” rating on the stock in a report on Thursday, October 10th. Oppenheimer cut their price target on shares of Incyte from $84.00 to $81.00 and set an “outperform” rating on the stock in a report on Friday, July 26th. JMP Securities reissued a “market perform” rating on shares of Incyte in a research report on Tuesday, September 17th. Finally, William Blair reissued an “outperform” rating on shares of Incyte in a research report on Monday, September 9th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, Incyte presently has an average rating of “Hold” and an average price target of $73.21.

Incyte Stock Down 0.1 %

Shares of INCY opened at $66.39 on Monday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.92 and a quick ratio of 1.84. The business’s 50 day simple moving average is $64.79 and its 200-day simple moving average is $60.94. Incyte Co. has a one year low of $50.27 and a one year high of $70.36. The company has a market capitalization of $14.91 billion, a P/E ratio of 20.12, a PEG ratio of 5.30 and a beta of 0.73.

Incyte (NASDAQ:INCY) last issued its earnings results on Tuesday, July 30th. The biopharmaceutical company reported ($1.82) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($2.60). Incyte had a net margin of 2.52% and a return on equity of 0.75%. The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter last year, the business posted $0.77 earnings per share. The company’s revenue for the quarter was up 9.3% on a year-over-year basis. As a group, sell-side analysts predict that Incyte Co. will post 0.66 EPS for the current fiscal year.

Insider Buying and Selling

In other Incyte news, EVP Jonathan Elliott Dickinson sold 8,450 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $62.36, for a total value of $526,942.00. Following the transaction, the executive vice president now directly owns 36,390 shares in the company, valued at $2,269,280.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Thomas Tray sold 572 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $62.94, for a total transaction of $36,001.68. Following the sale, the insider now owns 24,825 shares of the company’s stock, valued at $1,562,485.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Jonathan Elliott Dickinson sold 8,450 shares of Incyte stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $62.36, for a total transaction of $526,942.00. Following the transaction, the executive vice president now directly owns 36,390 shares in the company, valued at $2,269,280.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,593 shares of company stock valued at $1,652,914 over the last quarter. Insiders own 17.50% of the company’s stock.

About Incyte

Incyte Corporation, a biopharmaceutical company, engages in the discovery, development, and commercialization of therapeutics for hematology/oncology, and inflammation and autoimmunity areas in the United States and internationally. The company offers JAKAFI (ruxolitinib) for treatment of intermediate or high-risk myelofibrosis, polycythemia vera, and steroid-refractory acute graft-versus-host disease; MONJUVI (tafasitamab-cxix)/MINJUVI (tafasitamab) for relapsed or refractory diffuse large B-cell lymphoma; PEMAZYRE (pemigatinib), a fibroblast growth factor receptor kinase inhibitor that act as oncogenic drivers in liquid and solid tumor types; ICLUSIG (ponatinib) to treat chronic myeloid leukemia and Philadelphia-chromosome positive acute lymphoblastic leukemia; and ZYNYZ (retifanlimab-dlwr) to treat adults with metastatic or recurrent locally advanced Merkel cell carcinoma, as well as OPZELURA cream for treatment of atopic dermatitis.