Vinva Investment Management Ltd Increases Stake in Incyte Co. (NASDAQ:INCY)

Vinva Investment Management Ltd increased its position in shares of Incyte Co. (NASDAQ:INCY - Free Report) by 827.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 112,259 shares of the biopharmaceutical company's stock after acquiring an additional 100,151 shares during the period. Vinva Investment Management Ltd owned approximately 0.06% of Incyte worth $7,681,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Retirement Systems of Alabama increased its holdings in shares of Incyte by 0.4% in the fourth quarter. Retirement Systems of Alabama now owns 34,620 shares of the biopharmaceutical company's stock worth $2,391,000 after buying an additional 139 shares during the period. Trust Point Inc. grew its position in Incyte by 5.0% during the 4th quarter. Trust Point Inc. now owns 3,282 shares of the biopharmaceutical company's stock worth $227,000 after acquiring an additional 156 shares during the last quarter. Mather Group LLC. increased its stake in Incyte by 26.4% in the 4th quarter. Mather Group LLC. now owns 828 shares of the biopharmaceutical company's stock worth $57,000 after purchasing an additional 173 shares during the period. 180 Wealth Advisors LLC lifted its position in Incyte by 3.9% in the fourth quarter. 180 Wealth Advisors LLC now owns 5,231 shares of the biopharmaceutical company's stock valued at $361,000 after purchasing an additional 195 shares during the last quarter. Finally, Catalyst Financial Partners LLC grew its holdings in Incyte by 2.7% in the 4th quarter. Catalyst Financial Partners LLC now owns 7,493 shares of the biopharmaceutical company's stock worth $518,000 after acquiring an additional 200 shares during the last quarter. 96.97% of the stock is currently owned by hedge funds and other institutional investors.

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Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Cantor Fitzgerald reaffirmed a "neutral" rating on shares of Incyte in a research report on Friday, January 10th. Guggenheim downgraded Incyte from a "buy" rating to a "neutral" rating and set a $92.00 target price on the stock. in a report on Tuesday, March 18th. Wells Fargo & Company increased their target price on Incyte from $68.00 to $70.00 and gave the stock an "equal weight" rating in a research report on Thursday, December 19th. UBS Group began coverage on Incyte in a research note on Tuesday, December 17th. They issued a "neutral" rating and a $77.00 price target on the stock. Finally, Royal Bank of Canada lowered their price objective on Incyte from $70.00 to $68.00 and set a "sector perform" rating for the company in a research report on Tuesday, February 11th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $75.13.

Incyte Stock Performance

NASDAQ INCY traded up $1.34 during trading hours on Friday, hitting $61.92. The company's stock had a trading volume of 4,332,207 shares, compared to its average volume of 2,264,889. Incyte Co. has a 12 month low of $50.35 and a 12 month high of $83.95. The company's 50 day simple moving average is $70.61 and its two-hundred day simple moving average is $70.13. 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 company has a market cap of $11.98 billion, a P/E ratio of 229.34, a price-to-earnings-growth ratio of 0.41 and a beta of 0.76.

Incyte (NASDAQ:INCY - Get Free Report) last announced its quarterly earnings results on Monday, February 10th. The biopharmaceutical company reported $1.09 EPS for the quarter, missing analysts' consensus estimates of $1.57 by ($0.48). Incyte had a return on equity of 0.05% and a net margin of 0.77%. As a group, sell-side analysts expect that Incyte Co. will post 4.86 EPS for the current fiscal year.

Insider Buying and Selling

In other news, EVP Steven H. Stein sold 12,352 shares of the stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $72.69, for a total transaction of $897,866.88. Following the transaction, the executive vice president now directly owns 66,967 shares of the company's stock, valued at $4,867,831.23. This represents a 15.57 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Sheila A. Denton sold 14,069 shares of Incyte 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 sale, the executive vice president now directly owns 25,848 shares of the company's stock, valued at $1,914,561.36. The trade was a 35.25 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 46,827 shares of company stock worth $3,322,618. 17.60% of the stock is owned by insiders.

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.