Incyte Co. (NASDAQ:INCY) Stock Position Decreased by Vontobel Holding Ltd.

Vontobel Holding Ltd. lessened its holdings in shares of Incyte Co. (NASDAQ:INCY) by 23.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,467 shares of the biopharmaceutical company’s stock after selling 2,944 shares during the period. Vontobel Holding Ltd.’s holdings in Incyte were worth $654,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Creative Planning raised its holdings in shares of Incyte by 6.2% during the third quarter. Creative Planning now owns 22,366 shares of the biopharmaceutical company’s stock valued at $1,478,000 after buying an additional 1,307 shares during the last quarter. Foundations Investment Advisors LLC bought a new position in shares of Incyte in the third quarter worth $220,000. Assenagon Asset Management S.A. grew its stake in shares of Incyte by 10.0% in the third quarter. Assenagon Asset Management S.A. now owns 6,674 shares of the biopharmaceutical company’s stock worth $441,000 after purchasing an additional 609 shares in the last quarter. Tectonic Advisors LLC grew its stake in shares of Incyte by 1.6% in the third quarter. Tectonic Advisors LLC now owns 12,390 shares of the biopharmaceutical company’s stock worth $819,000 after purchasing an additional 190 shares in the last quarter. Finally, Cromwell Holdings LLC raised its position in shares of Incyte by 101.1% during the 3rd quarter. Cromwell Holdings LLC now owns 563 shares of the biopharmaceutical company’s stock worth $37,000 after buying an additional 283 shares in the last quarter. Institutional investors own 96.97% of the company’s stock.

Insider Activity

In related news, EVP Vijay K. Iyengar sold 6,043 shares of Incyte stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $75.38, for a total value of $455,521.34. Following the sale, the executive vice president now directly owns 30,658 shares in the company, valued at approximately $2,311,000.04. The trade was a 16.47 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Thomas Tray sold 650 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $70.64, for a total transaction of $45,916.00. Following the transaction, the insider now owns 23,962 shares in the company, valued at $1,692,675.68. The trade was a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 19,695 shares of company stock worth $1,444,356. Corporate insiders own 17.60% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. William Blair restated an “outperform” rating on shares of Incyte in a report on Friday, December 13th. Morgan Stanley boosted their price target on Incyte from $64.00 to $69.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Wells Fargo & Company upped their price target on Incyte from $68.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 19th. JPMorgan Chase & Co. upped their price target on shares of Incyte from $65.00 to $71.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Finally, Oppenheimer increased their price target on shares of Incyte from $81.00 to $82.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $75.59.

Incyte Price Performance

NASDAQ INCY opened at $70.16 on Thursday. Incyte Co. has a 52 week low of $50.35 and a 52 week high of $83.95. The company has a quick ratio of 1.94, a current ratio of 1.97 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $13.58 billion, a P/E ratio of 259.86, a PEG ratio of 0.40 and a beta of 0.70. The company has a 50-day moving average price of $71.20 and a 200-day moving average price of $69.31.

Incyte (NASDAQ:INCY) last posted its earnings results on Monday, February 10th. The biopharmaceutical company reported $1.09 earnings per share for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.48). Incyte had a return on equity of 0.05% and a net margin of 0.77%. Equities research analysts anticipate that Incyte Co. will post 4.86 earnings per share for the current year.

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.