KBC Group NV Sells 157,700 Shares of Incyte Corporation $INCY

Key Points

• KBC Group NV sold 157,700 shares of Incyte, trimming its position by 37.1% to 267,394 shares worth $26.41 million (about 0.14% of the company) in Q4.
• Insider Pablo J. Cagnoni sold 18,667 shares at an average price of $94.24 on March 17, reducing his stake to 234,800 shares (a 7.36% decrease); insiders own 17.8% of the stock.
• Incyte reported Q4 EPS of $1.80 (below estimates) and revenue of $1.51 billion (up 27.8% YoY and above estimates); analysts are split with a consensus "Hold" and a $104.89 target (10 Buy, 10 Hold, 1 Sell).

KBC Group NV decreased its position in Incyte Corporation (NASDAQ:INCY - Free Report) by 37.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 267,394 shares of the biopharmaceutical company's stock after selling 157,700 shares during the quarter. KBC Group NV owned approximately 0.14% of Incyte worth $26,410,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Harbor Capital Advisors Inc. bought a new position in shares of Incyte in the third quarter valued at approximately $26,000. Root Financial Partners LLC bought a new position in shares of Incyte in the third quarter valued at approximately $28,000. Quent Capital LLC bought a new position in shares of Incyte in the third quarter valued at approximately $30,000. MUFG Securities EMEA plc bought a new position in shares of Incyte in the second quarter valued at approximately $32,000. Finally, CYBER HORNET ETFs LLC bought a new position in Incyte during the second quarter worth $33,000. Institutional investors own 96.97% of the company's stock.

Insiders Place Their Bets

In other Incyte news, insider Pablo J. Cagnoni sold 18,667 shares of Incyte stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $94.24, for a total transaction of $1,759,178.08. Following the sale, the insider owned 234,800 shares in the company, valued at $22,127,552. The trade was a 7.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 17.80% of the stock is owned by corporate insiders.

Incyte Trading Up 2.6%

Shares of INCY stock opened at $97.82 on Friday. Incyte Corporation has a 1 year low of $56.13 and a 1 year high of $112.29. The firm's fifty day simple moving average is $96.69 and its 200 day simple moving average is $98.08. The firm has a market capitalization of $19.47 billion, a P/E ratio of 15.26, a price-to-earnings-growth ratio of 0.76 and a beta of 0.85. The company has a current ratio of 3.32, a quick ratio of 3.25 and a debt-to-equity ratio of 0.01.

Incyte (NASDAQ:INCY - Get Free Report) last posted its quarterly earnings results on Tuesday, February 10th. The biopharmaceutical company reported $1.80 earnings per share for the quarter, missing analysts' consensus estimates of $1.96 by ($0.16). Incyte had a return on equity of 26.34% and a net margin of 25.03%.The business had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.35 billion. During the same quarter in the prior year, the firm earned $1.43 EPS. The firm's quarterly revenue was up 27.8% on a year-over-year basis. As a group, sell-side analysts predict that Incyte Corporation will post 4.86 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on INCY shares. HC Wainwright reaffirmed a "buy" rating and set a $135.00 target price on shares of Incyte in a research report on Wednesday. Piper Sandler boosted their target price on shares of Incyte from $102.00 to $110.00 and gave the stock an "overweight" rating in a research report on Friday, February 6th. Weiss Ratings raised shares of Incyte from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, April 1st. Wall Street Zen lowered shares of Incyte from a "strong-buy" rating to a "buy" rating in a research report on Saturday, February 14th. Finally, UBS Group dropped their target price on shares of Incyte from $104.00 to $94.00 and set a "neutral" rating on the stock in a research report on Wednesday, March 25th. Ten analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $104.89.

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.

Want to see what other hedge funds are holding INCY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Incyte Corporation (NASDAQ:INCY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.