Bellevue Group AG Sells 3,331 Shares of Incyte Co. (NASDAQ:INCY)

Bellevue Group AG reduced its position in shares of Incyte Co. (NASDAQ:INCY) by 0.2% in the first quarter, HoldingsChannel reports. The firm owned 2,153,388 shares of the biopharmaceutical company’s stock after selling 3,331 shares during the quarter. Incyte makes up 1.9% of Bellevue Group AG’s investment portfolio, making the stock its 15th largest position. Bellevue Group AG’s holdings in Incyte were worth $122,679,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in INCY. Norges Bank purchased a new position in Incyte during the fourth quarter worth $123,253,000. LSV Asset Management boosted its position in Incyte by 119.6% in the fourth quarter. LSV Asset Management now owns 2,691,827 shares of the biopharmaceutical company’s stock valued at $169,020,000 after buying an additional 1,465,792 shares during the last quarter. KBC Group NV raised its holdings in shares of Incyte by 842.2% during the fourth quarter. KBC Group NV now owns 955,749 shares of the biopharmaceutical company’s stock worth $60,011,000 after purchasing an additional 854,311 shares during the last quarter. Los Angeles Capital Management LLC raised its stake in shares of Incyte by 37.1% during the 4th quarter. Los Angeles Capital Management LLC now owns 1,570,296 shares of the biopharmaceutical company’s stock valued at $98,599,000 after buying an additional 424,934 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Incyte by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 22,519,381 shares of the biopharmaceutical company’s stock valued at $1,413,992,000 after acquiring an additional 359,962 shares during the period. 96.97% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Barry P. Flannelly sold 1,306 shares of Incyte stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $64.19, for a total value of $83,832.14. Following the completion of the sale, the executive vice president now owns 58,042 shares in the company, valued at $3,725,715.98. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Thomas Tray sold 1,093 shares of the firm’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $58.91, for a total value of $64,388.63. Following the sale, the insider now directly owns 21,634 shares in the company, valued at approximately $1,274,458.94. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Barry P. Flannelly sold 1,306 shares of Incyte stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $64.19, for a total transaction of $83,832.14. Following the sale, the executive vice president now owns 58,042 shares in the company, valued at $3,725,715.98. The disclosure for this sale can be found here. Insiders sold a total of 29,711 shares of company stock worth $1,786,941 in the last 90 days. 17.50% of the stock is owned by company insiders.

Incyte Trading Up 0.1 %

Shares of NASDAQ INCY traded up $0.04 during midday trading on Friday, reaching $68.61. 2,186,078 shares of the stock were exchanged, compared to its average volume of 2,417,641. The company has a market capitalization of $15.41 billion, a P/E ratio of 20.79, a P/E/G ratio of 1.44 and a beta of 0.73. The company has a current ratio of 3.47, a quick ratio of 3.43 and a debt-to-equity ratio of 0.01. Incyte Co. has a 52-week low of $50.27 and a 52-week high of $70.36. The stock has a 50 day moving average price of $61.03 and a 200-day moving average price of $58.64.

Incyte (NASDAQ:INCY) last announced its quarterly earnings results on Tuesday, April 30th. The biopharmaceutical company reported $0.38 EPS for the quarter, missing the consensus estimate of $0.69 by ($0.31). The firm had revenue of $880.89 million for the quarter, compared to analyst estimates of $935.85 million. Incyte had a return on equity of 12.83% and a net margin of 19.78%. Equities research analysts expect that Incyte Co. will post 3.66 earnings per share for the current fiscal year.

Analyst Ratings Changes

INCY has been the topic of several recent research reports. Cantor Fitzgerald reissued a “neutral” rating on shares of Incyte in a research report on Tuesday, June 18th. StockNews.com downgraded shares of Incyte from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 2nd. Deutsche Bank Aktiengesellschaft started coverage on shares of Incyte in a research report on Thursday, May 23rd. They set a “hold” rating and a $55.00 target price on the stock. TD Cowen decreased their price objective on Incyte from $88.00 to $80.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. Finally, Oppenheimer cut their price target on shares of Incyte from $84.00 to $81.00 and set an “outperform” rating for the company in a report on Friday. One research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $73.25.

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.