31,047 Shares in Incyte Co. (NASDAQ:INCY) Purchased by XTX Topco Ltd

XTX Topco Ltd purchased a new stake in shares of Incyte Co. (NASDAQ:INCY) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 31,047 shares of the biopharmaceutical company’s stock, valued at approximately $1,882,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in INCY. Cape Investment Advisory Inc. bought a new position in shares of Incyte in the fourth quarter valued at approximately $25,000. MFA Wealth Advisors LLC bought a new stake in Incyte during the 2nd quarter worth approximately $26,000. Redmont Wealth Advisors LLC acquired a new stake in Incyte during the 1st quarter valued at $28,000. Riverview Trust Co bought a new position in Incyte in the 1st quarter valued at $29,000. Finally, Innealta Capital LLC bought a new position in Incyte in the 2nd quarter valued at $32,000. 96.97% of the stock is currently owned by institutional investors and hedge funds.

Incyte Stock Up 2.5 %

Shares of Incyte stock opened at $66.82 on Friday. The business has a fifty day simple moving average of $64.32 and a 200 day simple moving average of $59.75. The stock has a market cap of $15.00 billion, a PE ratio of 20.25, a price-to-earnings-growth ratio of 5.03 and a beta of 0.73. The company has a quick ratio of 1.84, a current ratio of 1.92 and a debt-to-equity ratio of 0.01. Incyte Co. has a 12 month low of $50.27 and a 12 month high of $70.36.

Incyte (NASDAQ:INCY) last posted 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). The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.01 billion. Incyte had a return on equity of 0.75% and a net margin of 2.52%. Incyte’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.77 earnings per share. Research analysts predict that Incyte Co. will post 0.67 EPS for the current year.

Insider Buying and Selling

In other Incyte news, insider Thomas Tray sold 572 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $62.94, for a total value of $36,001.68. Following the completion of the sale, the insider now owns 24,825 shares of the company’s stock, valued at $1,562,485.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Barry P. Flannelly sold 1,306 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $64.19, for a total transaction of $83,832.14. Following the sale, the executive vice president now owns 58,042 shares of the company’s stock, valued at $3,725,715.98. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Thomas Tray sold 572 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $62.94, for a total value of $36,001.68. Following the completion of the transaction, the insider now owns 24,825 shares of the company’s stock, valued at $1,562,485.50. The disclosure for this sale can be found here. Insiders have sold 34,047 shares of company stock valued at $2,225,626 in the last 90 days. 17.50% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts have recently commented on INCY shares. Cantor Fitzgerald restated a “neutral” rating on shares of Incyte in a report on Monday. Bank of America increased their price objective on shares of Incyte from $66.00 to $68.00 and gave the stock a “neutral” rating in a report on Monday. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $67.00 target price on shares of Incyte in a research note on Tuesday, September 3rd. Truist Financial reiterated a “hold” rating and set a $74.00 target price (down from $83.00) on shares of Incyte in a research report on Wednesday. Finally, Oppenheimer lowered their price target on shares of Incyte from $84.00 to $81.00 and set an “outperform” rating for the company in a report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $73.24.

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.