XTX Topco Ltd Makes New Investment in Incyte Co. (NASDAQ:INCY)

XTX Topco Ltd purchased a new stake in Incyte Co. (NASDAQ:INCY) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 31,047 shares of the biopharmaceutical company’s stock, valued at approximately $1,882,000.

Several other institutional investors and hedge funds also recently modified their holdings of INCY. Hsbc Holdings PLC raised its position in Incyte by 6.1% in the 2nd quarter. Hsbc Holdings PLC now owns 1,240,952 shares of the biopharmaceutical company’s stock valued at $75,179,000 after buying an additional 70,900 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its position in Incyte by 6.2% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 24,553 shares of the biopharmaceutical company’s stock worth $1,486,000 after acquiring an additional 1,434 shares during the last quarter. E Fund Management Co. Ltd. grew its stake in shares of Incyte by 92.6% during the 2nd quarter. E Fund Management Co. Ltd. now owns 20,240 shares of the biopharmaceutical company’s stock worth $1,227,000 after acquiring an additional 9,733 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Incyte by 24.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,181,269 shares of the biopharmaceutical company’s stock valued at $71,617,000 after purchasing an additional 230,665 shares during the last quarter. Finally, Inspire Advisors LLC lifted its position in shares of Incyte by 5.5% in the second quarter. Inspire Advisors LLC now owns 11,364 shares of the biopharmaceutical company’s stock worth $689,000 after purchasing an additional 591 shares in the last quarter. 96.97% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Incyte

In related news, EVP Barry P. Flannelly sold 8,148 shares of the business’s stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $60.00, for a total value of $488,880.00. Following the completion of the sale, the executive vice president now directly owns 50,534 shares in the company, valued at approximately $3,032,040. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Barry P. Flannelly sold 8,148 shares of the firm’s stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $60.00, for a total transaction of $488,880.00. Following the transaction, the executive vice president now directly owns 50,534 shares of the company’s stock, valued at $3,032,040. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Vijay K. Iyengar sold 15,571 shares of Incyte stock in a transaction dated Thursday, July 25th. The stock was 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 of the company’s stock, valued at approximately $2,569,070. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,047 shares of company stock worth $2,225,626. Company insiders own 17.50% of the company’s stock.

Incyte Price Performance

Shares of INCY opened at $66.82 on Friday. The company’s 50-day moving average is $64.32 and its 200-day moving average is $59.75. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.92 and a quick ratio of 1.84. The firm has a market capitalization of $15.00 billion, a PE ratio of 20.25, a PEG ratio of 5.03 and a beta of 0.73. Incyte Co. has a fifty-two week low of $50.27 and a fifty-two week high of $70.36.

Incyte (NASDAQ:INCY) last released its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported ($1.82) earnings per share for the quarter, missing the consensus estimate of $0.78 by ($2.60). The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.01 billion. Incyte had a net margin of 2.52% and a return on equity of 0.75%. The firm’s revenue was up 9.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.77 earnings per share. Equities analysts forecast that Incyte Co. will post 0.67 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on INCY shares. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $67.00 target price on shares of Incyte in a research report on Tuesday, September 3rd. JMP Securities restated a “market perform” rating on shares of Incyte in a report on Tuesday. Guggenheim upped their target price on Incyte from $86.00 to $92.00 and gave the stock a “buy” rating in a report on Monday. William Blair restated an “outperform” rating on shares of Incyte in a research note on Monday, September 9th. Finally, Citigroup boosted their price target on Incyte from $80.00 to $88.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Incyte has a consensus 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.