Moody National Bank Trust Division Decreases Position in Incyte Co. (NASDAQ:INCY)

Moody National Bank Trust Division trimmed its holdings in shares of Incyte Co. (NASDAQ:INCY) by 6.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 14,615 shares of the biopharmaceutical company’s stock after selling 937 shares during the period. Moody National Bank Trust Division’s holdings in Incyte were worth $1,009,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of INCY. Pacer Advisors Inc. grew its position in Incyte by 17,460.4% during the 2nd quarter. Pacer Advisors Inc. now owns 2,692,182 shares of the biopharmaceutical company’s stock worth $163,200,000 after acquiring an additional 2,676,851 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of Incyte by 70.5% in the second quarter. AQR Capital Management LLC now owns 2,661,758 shares of the biopharmaceutical company’s stock worth $159,905,000 after purchasing an additional 1,101,041 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Incyte in the third quarter worth $156,611,000. Mizuho Securities USA LLC increased its stake in shares of Incyte by 13,814.7% in the third quarter. Mizuho Securities USA LLC now owns 2,000,100 shares of the biopharmaceutical company’s stock worth $132,207,000 after buying an additional 1,985,726 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Incyte by 29.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,609,220 shares of the biopharmaceutical company’s stock valued at $106,369,000 after buying an additional 364,169 shares during the last quarter. 96.97% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

INCY has been the topic of a number of analyst reports. JPMorgan Chase & Co. boosted their price objective on shares of Incyte from $65.00 to $71.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Oppenheimer upped their price target on Incyte from $81.00 to $82.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Guggenheim lifted their price objective on Incyte from $86.00 to $92.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. Cantor Fitzgerald restated a “neutral” rating on shares of Incyte in a report on Friday. Finally, Bank of America upgraded shares of Incyte from a “neutral” rating to a “buy” rating and lifted their price target for the company from $68.00 to $90.00 in a report on Tuesday, October 29th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $76.29.

Insider Activity at Incyte

In related news, insider Thomas Tray sold 650 shares of Incyte stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $70.64, for a total value of $45,916.00. Following the completion of the sale, the insider now directly owns 23,962 shares in the company, valued at approximately $1,692,675.68. This trade represents a 2.64 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Barry P. Flannelly sold 3,680 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $79.68, for a total transaction of $293,222.40. Following the transaction, the executive vice president now owns 58,042 shares in the company, valued at $4,624,786.56. This represents a 5.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,023 shares of company stock valued at $839,711 over the last 90 days. Corporate insiders own 17.60% of the company’s stock.

Incyte Stock Up 2.6 %

Shares of NASDAQ:INCY opened at $72.37 on Tuesday. Incyte Co. has a 12-month low of $50.35 and a 12-month high of $83.95. The stock has a market capitalization of $13.94 billion, a price-to-earnings ratio of 516.97, a PEG ratio of 7.90 and a beta of 0.71. The stock has a fifty day simple moving average of $73.06 and a two-hundred day simple moving average of $67.70. The company has a current ratio of 1.87, a quick ratio of 1.82 and a debt-to-equity ratio of 0.01.

Incyte (NASDAQ:INCY) last announced its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.12). The firm had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.08 billion. Incyte had a negative return on equity of 0.63% and a net margin of 0.80%. The business’s revenue for the quarter was up 23.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.91 EPS. On average, research analysts anticipate that Incyte Co. will post 0.4 earnings per share for the current fiscal year.

Incyte Company Profile

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.