Moody National Bank Trust Division Has $861,000 Stock Position in Incyte Co. (NASDAQ:INCY)

Moody National Bank Trust Division boosted its stake in shares of Incyte Co. (NASDAQ:INCY) by 1.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,199 shares of the biopharmaceutical company’s stock after purchasing an additional 179 shares during the quarter. Moody National Bank Trust Division’s holdings in Incyte were worth $861,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Cape Investment Advisory Inc. bought a new position in Incyte during the fourth quarter valued at about $25,000. Larson Financial Group LLC increased its position in shares of Incyte by 4,220.0% during the fourth quarter. Larson Financial Group LLC now owns 432 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 422 shares during the period. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Incyte in the fourth quarter valued at $31,000. Redmont Wealth Advisors LLC bought a new position in Incyte in the first quarter worth $28,000. Finally, Riverview Trust Co acquired a new stake in Incyte during the first quarter worth $29,000. 96.97% of the stock is owned by institutional investors.

Incyte Trading Down 3.8 %

INCY stock traded down $2.47 during trading on Monday, hitting $62.00. The company had a trading volume of 2,359,832 shares, compared to its average volume of 2,557,450. The stock has a market cap of $11.94 billion, a price-to-earnings ratio of 19.54, a PEG ratio of 1.14 and a beta of 0.73. The company has a quick ratio of 3.43, a current ratio of 1.92 and a debt-to-equity ratio of 0.01. The firm has a 50-day moving average price of $61.88 and a 200-day moving average price of $58.77. Incyte Co. has a 12 month low of $50.27 and a 12 month high of $70.36.

Incyte (NASDAQ:INCY) last issued its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported ($1.82) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($2.60). The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.01 billion. Incyte had a net margin of 2.52% and a return on equity of 0.75%. The company’s revenue was up 9.3% compared to the same quarter last year. During the same period last year, the company earned $0.77 EPS. As a group, analysts predict that Incyte Co. will post 3.35 earnings per share for the current year.

Insider Buying and Selling at Incyte

In other news, EVP Vijay K. Iyengar sold 15,571 shares of Incyte stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $70.00, for a total transaction of $1,089,970.00. Following the completion of the sale, the executive vice president now owns 36,701 shares in the company, valued at approximately $2,569,070. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, EVP Vijay K. Iyengar sold 15,571 shares of the company’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $70.00, for a total value of $1,089,970.00. Following the completion of the sale, the executive vice president now owns 36,701 shares in the company, valued at $2,569,070. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Barry P. Flannelly sold 1,306 shares of the business’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $64.19, for a total value of $83,832.14. Following the transaction, the executive vice president now owns 58,042 shares of the company’s stock, valued at $3,725,715.98. The disclosure for this sale can be found here. In the last three months, insiders have sold 45,282 shares of company stock worth $2,876,911. Company insiders own 17.50% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on INCY. StockNews.com lowered shares of Incyte from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 2nd. Oppenheimer lowered their price objective on Incyte from $84.00 to $81.00 and set an “outperform” rating on the stock in a research note on Friday, July 26th. Truist Financial restated a “buy” rating and set a $83.00 target price (down previously from $84.00) on shares of Incyte in a research report on Wednesday, May 1st. BMO Capital Markets reiterated an “underperform” rating and issued a $48.00 price target (down from $52.00) on shares of Incyte in a research report on Tuesday, July 2nd. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Incyte from $55.00 to $60.00 and gave the company a “hold” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $73.24.

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.