KBC Group NV Sells 104,419 Shares of Incyte Co. (NASDAQ:INCY)

KBC Group NV decreased its position in shares of Incyte Co. (NASDAQ:INCY) by 9.0% during the fourth quarter, HoldingsChannel reports. The fund owned 1,056,634 shares of the biopharmaceutical company’s stock after selling 104,419 shares during the quarter. KBC Group NV’s holdings in Incyte were worth $72,982,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Brooklyn Investment Group purchased a new position in shares of Incyte during the 3rd quarter worth about $30,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Incyte in the third quarter worth about $33,000. Cromwell Holdings LLC boosted its position in shares of Incyte by 101.1% during the third quarter. Cromwell Holdings LLC now owns 563 shares of the biopharmaceutical company’s stock valued at $37,000 after buying an additional 283 shares during the period. Groupama Asset Managment grew its stake in shares of Incyte by 11.4% during the third quarter. Groupama Asset Managment now owns 59,597 shares of the biopharmaceutical company’s stock valued at $39,000 after buying an additional 6,105 shares during the last quarter. Finally, Blue Trust Inc. raised its holdings in shares of Incyte by 124.6% in the fourth quarter. Blue Trust Inc. now owns 593 shares of the biopharmaceutical company’s stock worth $39,000 after buying an additional 329 shares during the period. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Insider Transactions at Incyte

In other news, EVP Barry P. Flannelly sold 3,680 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $79.68, for a total transaction of $293,222.40. Following the transaction, the executive vice president now owns 58,042 shares in the company, valued at $4,624,786.56. This represents a 5.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Vijay K. Iyengar sold 6,043 shares of the stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $75.38, for a total transaction of $455,521.34. Following the completion of the transaction, the executive vice president now directly owns 30,658 shares of the company’s stock, valued at $2,311,000.04. The trade was a 16.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,375 shares of company stock valued at $1,737,578. Corporate insiders own 17.60% of the company’s stock.

Incyte Price Performance

INCY opened at $72.59 on Monday. The firm has a market capitalization of $13.98 billion, a PE ratio of 518.54, a price-to-earnings-growth ratio of 0.53 and a beta of 0.71. The business’s 50-day moving average is $71.69 and its two-hundred day moving average is $68.48. Incyte Co. has a 1 year low of $50.35 and a 1 year high of $83.95. 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 (NASDAQ:INCY) last issued its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.12). The firm had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.08 billion. Incyte had a negative return on equity of 0.63% and a net margin of 0.80%. The firm’s quarterly revenue was up 23.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.91 EPS. Research analysts anticipate that Incyte Co. will post 0.39 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on INCY shares. The Goldman Sachs Group boosted their price objective on Incyte from $63.00 to $70.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. William Blair restated an “outperform” rating on shares of Incyte in a report on Friday, December 13th. Bank of America upgraded shares of Incyte from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $68.00 to $90.00 in a report on Tuesday, October 29th. JMP Securities restated a “market perform” rating on shares of Incyte in a research note on Tuesday, January 14th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Incyte from $65.00 to $71.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $75.71.

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.