ING Groep NV Takes $1.41 Million Position in Incyte Co. (NASDAQ:INCY)

ING Groep NV acquired a new stake in shares of Incyte Co. (NASDAQ:INCY) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 20,423 shares of the biopharmaceutical company’s stock, valued at approximately $1,411,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Hussman Strategic Advisors Inc. purchased a new position in shares of Incyte during the 4th quarter valued at $2,901,000. Ieq Capital LLC grew its position in Incyte by 1,342.5% during the fourth quarter. Ieq Capital LLC now owns 138,536 shares of the biopharmaceutical company’s stock worth $9,569,000 after buying an additional 128,932 shares in the last quarter. Bryn Mawr Capital Management LLC increased its stake in Incyte by 262.6% in the 4th quarter. Bryn Mawr Capital Management LLC now owns 19,209 shares of the biopharmaceutical company’s stock worth $1,327,000 after acquiring an additional 13,911 shares during the last quarter. CIBC Asset Management Inc raised its holdings in shares of Incyte by 4.7% in the 4th quarter. CIBC Asset Management Inc now owns 26,493 shares of the biopharmaceutical company’s stock valued at $1,830,000 after acquiring an additional 1,190 shares in the last quarter. Finally, Sanctuary Advisors LLC boosted its position in shares of Incyte by 29.8% during the 4th quarter. Sanctuary Advisors LLC now owns 27,330 shares of the biopharmaceutical company’s stock valued at $2,016,000 after acquiring an additional 6,274 shares during the last quarter. Institutional investors own 96.97% of the company’s stock.

Incyte Trading Up 0.9 %

Shares of INCY opened at $72.05 on Monday. The stock has a market capitalization of $13.94 billion, a P/E ratio of 266.87, a PEG ratio of 0.41 and a beta of 0.70. Incyte Co. has a twelve month low of $50.35 and a twelve month high of $83.95. The company has a quick ratio of 1.94, a current ratio of 1.97 and a debt-to-equity ratio of 0.01. The firm has a fifty day simple moving average of $71.24 and a two-hundred day simple moving average of $69.52.

Incyte (NASDAQ:INCY) last posted its earnings results on Monday, February 10th. The biopharmaceutical company reported $1.09 earnings per share for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.48). Incyte had a return on equity of 0.05% and a net margin of 0.77%. On average, research analysts anticipate that Incyte Co. will post 4.86 EPS for the current year.

Analyst Ratings Changes

Several research analysts recently weighed in on INCY shares. BMO Capital Markets restated an “underperform” rating and issued a $52.00 price objective (up from $48.00) on shares of Incyte in a research report on Wednesday, October 30th. Wells Fargo & Company increased their price target on shares of Incyte from $68.00 to $70.00 and gave the stock an “equal weight” rating in a report on Thursday, December 19th. Citigroup dropped their price objective on shares of Incyte from $97.00 to $88.00 and set a “buy” rating for the company in a report on Tuesday, February 11th. Oppenheimer increased their target price on Incyte from $81.00 to $82.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, UBS Group started coverage on Incyte in a research note on Tuesday, December 17th. They set a “neutral” rating and a $77.00 price target for the company. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $75.25.

Insider Transactions at Incyte

In related news, EVP Steven H. Stein sold 12,352 shares of Incyte stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $72.69, for a total transaction of $897,866.88. Following the sale, the executive vice president now directly owns 66,967 shares in the company, valued at $4,867,831.23. The trade was a 15.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Thomas Tray sold 650 shares of the company’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $70.64, for a total transaction of $45,916.00. Following the completion of the sale, the insider now directly owns 23,962 shares in the company, valued at $1,692,675.68. This represents a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,695 shares of company stock worth $1,444,356. 17.60% of the stock is currently owned by insiders.

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.