Czech National Bank Sells 2,950 Shares of Incyte Co. (NASDAQ:INCY)

Czech National Bank trimmed its position in Incyte Co. (NASDAQ:INCY) by 8.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 32,564 shares of the biopharmaceutical company’s stock after selling 2,950 shares during the quarter. Czech National Bank’s holdings in Incyte were worth $2,152,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sanctuary Advisors LLC bought a new position in Incyte during the 2nd quarter worth about $2,738,000. Teachers Retirement System of The State of Kentucky lifted its position in shares of Incyte by 2,486.8% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 394,646 shares of the biopharmaceutical company’s stock worth $23,923,000 after purchasing an additional 379,390 shares during the period. Delphi Management Inc. MA bought a new position in shares of Incyte during the second quarter valued at approximately $73,000. Advisory Alpha LLC increased its holdings in Incyte by 18.9% during the second quarter. Advisory Alpha LLC now owns 6,678 shares of the biopharmaceutical company’s stock valued at $405,000 after buying an additional 1,062 shares during the period. Finally, Truist Financial Corp bought a new position in Incyte in the second quarter worth approximately $1,122,000. Institutional investors own 96.97% of the company’s stock.

Insider Transactions at Incyte

In related news, insider Thomas Tray sold 572 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $62.94, for a total value of $36,001.68. Following the completion of the transaction, the insider now directly owns 24,825 shares in the company, valued at $1,562,485.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Incyte news, insider Thomas Tray sold 572 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $62.94, for a total transaction of $36,001.68. Following the transaction, the insider now owns 24,825 shares in the company, valued at approximately $1,562,485.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Jonathan Elliott Dickinson sold 8,450 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $62.36, for a total value of $526,942.00. Following the completion of the sale, the executive vice president now owns 36,390 shares of the company’s stock, valued at $2,269,280.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 25,899 shares of company stock valued at $1,736,746 in the last 90 days. 17.60% of the stock is currently owned by company insiders.

Incyte Stock Up 1.1 %

INCY stock opened at $66.12 on Friday. The company has a market capitalization of $12.73 billion, a P/E ratio of 183.67, a price-to-earnings-growth ratio of 5.30 and a beta of 0.73. The firm’s fifty day simple moving average is $64.30 and its 200-day simple moving average is $60.57. Incyte Co. has a 12 month low of $50.27 and a 12 month high of $70.36. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.92 and a quick ratio of 1.84.

Incyte (NASDAQ:INCY) last issued its quarterly earnings data 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 company had revenue of $1.04 billion during 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 business’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same period last year, the firm earned $0.77 EPS. As a group, equities research analysts forecast that Incyte Co. will post 0.66 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on INCY. Oppenheimer cut their price target on Incyte from $84.00 to $81.00 and set an “outperform” rating on the stock in a report on Friday, July 26th. JMP Securities reiterated a “market perform” rating on shares of Incyte in a report on Tuesday, September 17th. Bank of America increased their price target on shares of Incyte from $66.00 to $68.00 and gave the company a “neutral” rating in a research report on Monday, September 16th. Truist Financial reiterated a “hold” rating and set a $74.00 price objective (down previously from $83.00) on shares of Incyte in a research note on Wednesday, September 18th. Finally, William Blair restated an “outperform” rating on shares of Incyte in a research note on Monday, September 9th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, Incyte currently has a consensus rating of “Hold” and an average target price of $73.21.

About Incyte

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.