Nordea Investment Management AB Sells 758 Shares of Incyte Co. (NASDAQ:INCY)

Nordea Investment Management AB trimmed its position in Incyte Co. (NASDAQ:INCYFree Report) by 0.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 83,673 shares of the biopharmaceutical company’s stock after selling 758 shares during the quarter. Nordea Investment Management AB’s holdings in Incyte were worth $4,754,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Fidelis Capital Partners LLC bought a new position in Incyte in the first quarter valued at approximately $32,000. Choreo LLC bought a new position in Incyte in the first quarter valued at approximately $281,000. Blackhawk Capital Partners LLC. increased its stake in Incyte by 15.2% in the first quarter. Blackhawk Capital Partners LLC. now owns 11,792 shares of the biopharmaceutical company’s stock valued at $672,000 after acquiring an additional 1,554 shares during the last quarter. Bray Capital Advisors increased its stake in Incyte by 37.7% in the first quarter. Bray Capital Advisors now owns 18,770 shares of the biopharmaceutical company’s stock valued at $1,069,000 after acquiring an additional 5,135 shares during the last quarter. Finally, Sequoia Financial Advisors LLC bought a new position in Incyte in the first quarter valued at approximately $236,000. 96.97% of the stock is owned by institutional investors.

Incyte Price Performance

INCY stock opened at $60.70 on Wednesday. The firm has a market cap of $13.63 billion, a price-to-earnings ratio of 18.39, a PEG ratio of 1.25 and a beta of 0.73. The company has a quick ratio of 3.43, a current ratio of 3.47 and a debt-to-equity ratio of 0.01. Incyte Co. has a 12-month low of $50.27 and a 12-month high of $67.36. The company’s fifty day simple moving average is $58.38 and its 200 day simple moving average is $58.55.

Incyte (NASDAQ:INCYGet Free Report) last posted its quarterly earnings results on Tuesday, April 30th. The biopharmaceutical company reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.69 by ($0.31). Incyte had a net margin of 19.78% and a return on equity of 12.83%. The company had revenue of $880.89 million during the quarter, compared to the consensus estimate of $935.85 million. On average, analysts expect that Incyte Co. will post 3.57 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have weighed in on INCY shares. Cantor Fitzgerald restated a “neutral” rating on shares of Incyte in a research report on Tuesday, June 18th. BMO Capital Markets restated an “underperform” rating and issued a $48.00 target price (down previously from $52.00) on shares of Incyte in a research report on Tuesday, July 2nd. Deutsche Bank Aktiengesellschaft started coverage on shares of Incyte in a research report on Thursday, May 23rd. They issued a “hold” rating and a $55.00 target price on the stock. Bank of America cut their target price on shares of Incyte from $69.00 to $67.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 13th. Finally, Truist Financial restated a “buy” rating and issued a $83.00 target price (down previously from $84.00) on shares of Incyte in a research report on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $73.44.

Check Out Our Latest Research Report on Incyte

Insider Buying and Selling at Incyte

In other Incyte news, insider Thomas Tray sold 1,093 shares of Incyte stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $58.91, for a total value of $64,388.63. Following the completion of the sale, the insider now directly owns 21,634 shares of the company’s stock, valued at $1,274,458.94. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, EVP Barry P. Flannelly sold 19,164 shares of the business’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $60.00, for a total transaction of $1,149,840.00. Following the completion of the sale, the executive vice president now directly owns 66,377 shares of the company’s stock, valued at $3,982,620. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Thomas Tray sold 1,093 shares of the business’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $58.91, for a total transaction of $64,388.63. Following the transaction, the insider now owns 21,634 shares in the company, valued at $1,274,458.94. The disclosure for this sale can be found here. Insiders own 17.50% of the company’s stock.

About Incyte

(Free Report)

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.

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Institutional Ownership by Quarter for Incyte (NASDAQ:INCY)

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