Candriam S.C.A. Lowers Stock Holdings in Incyte Corporation $INCY

Candriam S.C.A. lowered its stake in Incyte Corporation (NASDAQ:INCY) by 26.9% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 753,332 shares of the biopharmaceutical company’s stock after selling 277,789 shares during the period. Candriam S.C.A. owned 0.38% of Incyte worth $63,890,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in INCY. Bank of Nova Scotia boosted its holdings in Incyte by 0.7% in the second quarter. Bank of Nova Scotia now owns 17,041 shares of the biopharmaceutical company’s stock worth $1,160,000 after acquiring an additional 124 shares in the last quarter. MAI Capital Management raised its position in shares of Incyte by 19.9% in the 2nd quarter. MAI Capital Management now owns 754 shares of the biopharmaceutical company’s stock worth $51,000 after purchasing an additional 125 shares during the last quarter. Atlantic Edge Private Wealth Management LLC boosted its stake in Incyte by 0.9% in the 3rd quarter. Atlantic Edge Private Wealth Management LLC now owns 14,556 shares of the biopharmaceutical company’s stock worth $1,235,000 after purchasing an additional 125 shares in the last quarter. E Fund Management Co. Ltd. grew its position in Incyte by 0.8% during the 2nd quarter. E Fund Management Co. Ltd. now owns 19,912 shares of the biopharmaceutical company’s stock valued at $1,356,000 after purchasing an additional 158 shares during the last quarter. Finally, Wealthfront Advisers LLC grew its position in Incyte by 2.4% during the 2nd quarter. Wealthfront Advisers LLC now owns 7,366 shares of the biopharmaceutical company’s stock valued at $502,000 after purchasing an additional 171 shares during the last quarter. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Incyte Stock Performance

Shares of INCY opened at $108.39 on Monday. The firm has a market capitalization of $21.28 billion, a P/E ratio of 18.16, a PEG ratio of 0.65 and a beta of 0.82. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.20 and a quick ratio of 3.13. Incyte Corporation has a one year low of $53.56 and a one year high of $112.29. The business has a fifty day moving average of $101.69 and a 200 day moving average of $93.29.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on INCY shares. The Goldman Sachs Group reiterated a “neutral” rating and issued a $90.00 target price on shares of Incyte in a research note on Thursday, January 8th. Morgan Stanley boosted their price objective on shares of Incyte from $92.00 to $94.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 6th. TD Cowen reaffirmed a “buy” rating on shares of Incyte in a research report on Tuesday, January 13th. Piper Sandler lifted their target price on Incyte from $102.00 to $110.00 and gave the stock an “overweight” rating in a report on Friday. Finally, Wells Fargo & Company restated an “equal weight” rating and issued a $107.00 price target (down previously from $116.00) on shares of Incyte in a research note on Tuesday, January 20th. Nine research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $103.29.

Insider Transactions at Incyte

In other news, EVP Michael James Morrissey sold 4,323 shares of the company’s stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $97.26, for a total transaction of $420,454.98. Following the completion of the sale, the executive vice president owned 27,507 shares of the company’s stock, valued at $2,675,330.82. This represents a 13.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Mohamed Khairie Issa sold 10,856 shares of the stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $109.07, for a total transaction of $1,184,063.92. Following the completion of the transaction, the executive vice president owned 66,132 shares in the company, valued at $7,213,017.24. This trade represents a 14.10% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 95,225 shares of company stock valued at $9,519,745. 17.80% of the stock is owned by company insiders.

Incyte Profile

Incyte Corporation is a Wilmington, Delaware–based biopharmaceutical company focused on the discovery, development and commercialization of novel therapies in oncology and inflammation. Since its founding in 2002, Incyte has grown from a small research organization into a global enterprise, advancing a portfolio of internally developed and partnered assets. The company’s research and development efforts center on small-molecule drugs and biologics that modulate critical signaling pathways implicated in cancer, autoimmune disorders and rare diseases.

The company’s flagship product is Jakafi® (ruxolitinib), a Janus kinase (JAK) inhibitor approved for the treatment of myelofibrosis and polycythemia vera.