AIA Group Ltd Buys Shares of 31,000 Incyte Co. (NASDAQ:INCY)

AIA Group Ltd bought a new position in shares of Incyte Co. (NASDAQ:INCY) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 31,000 shares of the biopharmaceutical company’s stock, valued at approximately $2,141,000.

Several other institutional investors and hedge funds also recently modified their holdings of INCY. Quintet Private Bank Europe S.A. acquired a new stake in shares of Incyte during the fourth quarter valued at $26,000. Global X Japan Co. Ltd. lifted its holdings in Incyte by 144.7% in the 4th quarter. Global X Japan Co. Ltd. now owns 389 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 230 shares in the last quarter. R Squared Ltd acquired a new stake in shares of Incyte during the 4th quarter worth about $30,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Incyte during the third quarter worth about $33,000. Finally, Groupama Asset Managment grew its holdings in shares of Incyte by 11.4% during the third quarter. Groupama Asset Managment now owns 59,597 shares of the biopharmaceutical company’s stock worth $39,000 after buying an additional 6,105 shares in the last quarter. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Insider Activity

In other Incyte news, EVP Barry P. Flannelly sold 19,807 shares of the business’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $67.69, for a total value of $1,340,735.83. Following the transaction, the executive vice president now owns 33,567 shares in the company, valued at $2,272,150.23. The trade was a 37.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Sheila A. Denton sold 599 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $69.99, for a total value of $41,924.01. Following the sale, the executive vice president now owns 25,848 shares of the company’s stock, valued at $1,809,101.52. This represents a 2.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 46,827 shares of company stock worth $3,322,618. 17.60% of the stock is currently owned by company insiders.

Incyte Trading Down 0.1 %

Shares of INCY opened at $60.55 on Tuesday. Incyte Co. has a 12 month low of $50.35 and a 12 month high of $83.95. The stock’s 50-day moving average is $69.31 and its two-hundred day moving average is $70.12. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.94. The stock has a market cap of $11.72 billion, a PE ratio of 224.27, a P/E/G ratio of 0.41 and a beta of 0.76.

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

Wall Street Analysts Forecast Growth

INCY has been the topic of a number of analyst reports. StockNews.com lowered shares of Incyte from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 12th. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Incyte in a research report on Friday, January 10th. Stifel Nicolaus upped their target price on Incyte from $75.00 to $77.00 and gave the company a “hold” rating in a research note on Monday, February 10th. Truist Financial decreased their price target on Incyte from $74.00 to $72.00 and set a “hold” rating on the stock in a research note on Tuesday, March 18th. Finally, Wells Fargo & Company increased their price objective on shares of Incyte from $68.00 to $70.00 and gave the stock an “equal weight” rating in a report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $74.88.

Incyte 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.