Korea Investment CORP Acquires 10,100 Shares of Incyte Co. (NASDAQ:INCY)

Korea Investment CORP grew its holdings in Incyte Co. (NASDAQ:INCY - Free Report) by 17.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 68,826 shares of the biopharmaceutical company's stock after acquiring an additional 10,100 shares during the quarter. Korea Investment CORP's holdings in Incyte were worth $4,754,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of INCY. Quintet Private Bank Europe S.A. bought a new stake in Incyte in the 4th quarter valued at $26,000. Global X Japan Co. Ltd. lifted its stake in shares of Incyte by 144.7% in the fourth quarter. Global X Japan Co. Ltd. now owns 389 shares of the biopharmaceutical company's stock valued at $27,000 after buying an additional 230 shares during the period. R Squared Ltd bought a new stake in shares of Incyte in the fourth quarter valued at about $30,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Incyte during the third quarter worth about $33,000. Finally, Groupama Asset Managment raised its holdings in Incyte by 11.4% in the 3rd quarter. Groupama Asset Managment now owns 59,597 shares of the biopharmaceutical company's stock valued at $39,000 after acquiring an additional 6,105 shares in the last quarter. Institutional investors and hedge funds own 96.97% of the company's stock.

Incyte Trading Down 3.0 %

Shares of INCY traded down $1.88 on Friday, reaching $60.58. 3,670,885 shares of the company's stock were exchanged, compared to its average volume of 2,351,276. 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 $11.72 billion, a P/E ratio of 224.38, a price-to-earnings-growth ratio of 0.41 and a beta of 0.89. The company has a current ratio of 1.97, a quick ratio of 1.94 and a debt-to-equity ratio of 0.01. The business has a 50 day moving average price of $68.41 and a two-hundred day moving average price of $69.97.

Remove Ads

Incyte (NASDAQ:INCY - Get Free Report) last issued its 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 net margin of 0.77% and a return on equity of 0.05%. Research analysts anticipate that Incyte Co. will post 4.86 earnings per share for the current year.

Insider Buying and Selling at Incyte

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

Analyst Upgrades and Downgrades

INCY has been the topic of several recent research reports. Cantor Fitzgerald reissued a "neutral" rating on shares of Incyte in a report on Friday, January 10th. Stifel Nicolaus lifted their price target on shares of Incyte from $75.00 to $77.00 and gave the stock a "hold" rating in a research note on Monday, February 10th. William Blair cut shares of Incyte from an "outperform" rating to a "market perform" rating in a research note on Tuesday, March 18th. UBS Group began coverage on shares of Incyte in a research report on Tuesday, December 17th. They set a "neutral" rating and a $77.00 target price on the stock. Finally, Morgan Stanley dropped their price target on shares of Incyte from $69.00 to $65.00 and set an "equal weight" rating for the company in a research report on Monday, March 24th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Incyte 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.