Vinva Investment Management Ltd Boosts Stock Holdings in Incyte Co. (NASDAQ:INCY)

Vinva Investment Management Ltd grew its position in shares of Incyte Co. (NASDAQ:INCY) by 827.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 112,259 shares of the biopharmaceutical company’s stock after acquiring an additional 100,151 shares during the quarter. Vinva Investment Management Ltd’s holdings in Incyte were worth $7,681,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of the company. Point72 Asset Management L.P. purchased a new position in shares of Incyte in the 3rd quarter worth about $156,611,000. Charles Schwab Investment Management Inc. lifted its holdings in Incyte by 29.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,609,220 shares of the biopharmaceutical company’s stock valued at $106,369,000 after purchasing an additional 364,169 shares during the last quarter. Candriam S.C.A. lifted its holdings in Incyte by 27.8% during the fourth quarter. Candriam S.C.A. now owns 1,034,652 shares of the biopharmaceutical company’s stock valued at $71,463,000 after purchasing an additional 224,919 shares during the last quarter. LBP AM SA purchased a new stake in Incyte during the fourth quarter valued at about $13,905,000. Finally, Los Angeles Capital Management LLC lifted its holdings in Incyte by 94.1% during the fourth quarter. Los Angeles Capital Management LLC now owns 407,201 shares of the biopharmaceutical company’s stock valued at $28,125,000 after purchasing an additional 197,406 shares during the last quarter. 96.97% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Incyte news, EVP Sheila A. Denton sold 14,069 shares of the stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $74.07, for a total value of $1,042,090.83. Following the completion of the transaction, the executive vice president now owns 25,848 shares in the company, valued at approximately $1,914,561.36. This represents a 35.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Barry P. Flannelly sold 19,807 shares of the stock in a transaction on Friday, March 14th. The stock was sold at an average price of $67.69, for a total value of $1,340,735.83. Following the completion of the transaction, the executive vice president now owns 33,567 shares of the company’s stock, valued at approximately $2,272,150.23. This trade represents a 37.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 46,827 shares of company stock valued at $3,322,618 over the last quarter. 17.60% of the stock is owned by company insiders.

Incyte Stock Performance

NASDAQ:INCY opened at $60.00 on Wednesday. The firm has a market cap of $11.61 billion, a PE ratio of 222.23, a price-to-earnings-growth ratio of 0.41 and a beta of 0.76. Incyte Co. has a fifty-two week low of $50.35 and a fifty-two week high of $83.95. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.94 and a current ratio of 1.97. The business has a 50 day moving average price of $71.29 and a 200-day moving average price of $70.27.

Incyte (NASDAQ:INCY) last released its quarterly earnings data 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 net margin of 0.77% and a return on equity of 0.05%. Equities research analysts predict that Incyte Co. will post 4.86 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have commented on INCY shares. Citigroup dropped their price objective on shares of Incyte from $97.00 to $88.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. William Blair downgraded shares of Incyte from an “outperform” rating to a “market perform” rating in a report on Tuesday. Stifel Nicolaus upped their price objective on shares of Incyte from $75.00 to $77.00 and gave the company a “hold” rating in a report on Monday, February 10th. Cantor Fitzgerald reiterated a “neutral” rating on shares of Incyte in a research report on Friday, January 10th. Finally, Wells Fargo & Company upped their price target on Incyte from $68.00 to $70.00 and gave the company an “equal weight” rating in a research report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Incyte has a consensus rating of “Hold” and an average price target of $75.13.

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.