KBC Group NV Sells 563,357 Shares of Incyte Co. (NASDAQ:INCY)

KBC Group NV reduced its position in shares of Incyte Co. (NASDAQ:INCY - Free Report) by 32.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,161,053 shares of the biopharmaceutical company's stock after selling 563,357 shares during the period. KBC Group NV owned approximately 0.60% of Incyte worth $76,745,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. ProShare Advisors LLC increased its stake in Incyte by 14.4% in the 1st quarter. ProShare Advisors LLC now owns 63,086 shares of the biopharmaceutical company's stock worth $3,594,000 after acquiring an additional 7,925 shares during the last quarter. Kennedy Capital Management LLC purchased a new position in shares of Incyte during the first quarter worth about $463,000. Magnetar Financial LLC bought a new position in shares of Incyte in the first quarter worth approximately $1,817,000. Greenwood Capital Associates LLC purchased a new stake in Incyte in the third quarter valued at approximately $433,000. Finally, Andra AP fonden lifted its position in Incyte by 35.2% during the second quarter. Andra AP fonden now owns 247,800 shares of the biopharmaceutical company's stock valued at $15,022,000 after purchasing an additional 64,500 shares during the last quarter. Institutional investors own 96.97% of the company's stock.

Insider Buying and Selling at Incyte

In other news, EVP Jonathan Elliott Dickinson sold 8,450 shares of the firm's stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $62.36, for a total value of $526,942.00. Following the completion of the sale, the executive vice president now directly owns 36,390 shares of the company's stock, valued at approximately $2,269,280.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, EVP Jonathan Elliott Dickinson sold 8,450 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $62.36, for a total value of $526,942.00. Following the completion of the transaction, the executive vice president now owns 36,390 shares of the company's stock, valued at approximately $2,269,280.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Barry P. Flannelly sold 3,680 shares of the firm's stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $79.68, for a total value of $293,222.40. Following the completion of the transaction, the executive vice president now owns 58,042 shares of the company's stock, valued at approximately $4,624,786.56. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 12,702 shares of company stock valued at $856,166. 17.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on INCY. Cantor Fitzgerald reissued a "neutral" rating on shares of Incyte in a report on Monday, September 16th. JPMorgan Chase & Co. upped their target price on shares of Incyte from $65.00 to $71.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 30th. William Blair restated an "outperform" rating on shares of Incyte in a research report on Monday, September 9th. Royal Bank of Canada upped their price objective on Incyte from $72.00 to $80.00 and gave the stock a "sector perform" rating in a report on Thursday. Finally, Wolfe Research started coverage on Incyte in a research report on Tuesday, October 1st. They set an "outperform" rating and a $84.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $77.16.

Incyte Trading Down 1.7 %

NASDAQ:INCY traded down $1.38 during mid-day trading on Thursday, reaching $79.10. 657,468 shares of the company's stock traded hands, compared to its average volume of 2,329,707. The company has a 50 day moving average price of $68.40 and a 200-day moving average price of $63.48. The firm has a market capitalization of $15.24 billion, a price-to-earnings ratio of 564.71, a PEG ratio of 9.29 and a beta of 0.71. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.87 and a quick ratio of 1.82. Incyte Co. has a 12-month low of $50.35 and a 12-month high of $83.95.

Incyte (NASDAQ:INCY - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.07 earnings per share for the quarter, missing analysts' consensus estimates of $1.19 by ($0.12). The business 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%. Incyte's quarterly revenue was up 23.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.91 earnings per share. On average, sell-side analysts predict that Incyte Co. will post 0.4 earnings per share for the current year.

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.