Machina Capital S.A.S. Invests $484,000 in Incyte Corporation (NASDAQ:INCY)

Machina Capital S.A.S. bought a new stake in Incyte Corporation (NASDAQ:INCY - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 7,994 shares of the biopharmaceutical company's stock, valued at approximately $484,000.

A number of other hedge funds and other institutional investors have also modified their holdings of INCY. Raiffeisen Bank International AG acquired a new stake in shares of Incyte in the fourth quarter valued at about $34,000. NBC Securities Inc. increased its position in shares of Incyte by 88,200.0% in the first quarter. NBC Securities Inc. now owns 883 shares of the biopharmaceutical company's stock valued at $53,000 after acquiring an additional 882 shares during the last quarter. Huntington National Bank increased its position in shares of Incyte by 40.7% in the fourth quarter. Huntington National Bank now owns 934 shares of the biopharmaceutical company's stock valued at $65,000 after acquiring an additional 270 shares during the last quarter. Intact Investment Management Inc. acquired a new stake in shares of Incyte in the first quarter valued at about $73,000. Finally, Farther Finance Advisors LLC increased its position in shares of Incyte by 474.1% in the first quarter. Farther Finance Advisors LLC now owns 1,550 shares of the biopharmaceutical company's stock valued at $94,000 after acquiring an additional 1,280 shares during the last quarter. Institutional investors and hedge funds own 96.97% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on INCY. JPMorgan Chase & Co. reduced their price target on Incyte from $68.00 to $67.00 and set a "neutral" rating for the company in a report on Monday, July 14th. Wells Fargo & Company lifted their price target on Incyte from $58.00 to $59.00 and gave the stock an "equal weight" rating in a report on Wednesday, April 30th. Royal Bank Of Canada set a $67.00 price target on Incyte and gave the stock a "sector perform" rating in a report on Monday, June 23rd. Citigroup reiterated a "buy" rating on shares of Incyte in a report on Tuesday, June 3rd. Finally, Wall Street Zen upgraded Incyte from a "buy" rating to a "strong-buy" rating in a report on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Incyte has an average rating of "Hold" and a consensus target price of $74.47.

Insider Buying and Selling

In related news, EVP Sheila A. Denton sold 599 shares of the stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $68.61, for a total value of $41,097.39. Following the completion of the sale, the executive vice president directly owned 26,504 shares in the company, valued at $1,818,439.44. This represents a 2.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Steven H. Stein sold 3,706 shares of the stock in a transaction on Monday, July 21st. The shares were sold at an average price of $67.94, for a total value of $251,785.64. Following the completion of the sale, the executive vice president owned 102,886 shares of the company's stock, valued at $6,990,074.84. The trade was a 3.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 56,098 shares of company stock valued at $3,836,196. Company insiders own 17.80% of the company's stock.

Incyte Price Performance

Shares of NASDAQ:INCY traded down $0.29 during trading on Friday, hitting $70.20. 1,434,800 shares of the company were exchanged, compared to its average volume of 1,482,236. The business's 50 day moving average is $67.89 and its 200-day moving average is $66.61. The company has a market capitalization of $13.59 billion, a P/E ratio of 219.38, a price-to-earnings-growth ratio of 0.59 and a beta of 0.68. The company has a quick ratio of 2.00, a current ratio of 2.04 and a debt-to-equity ratio of 0.01. Incyte Corporation has a 1-year low of $53.56 and a 1-year high of $83.95.

Incyte (NASDAQ:INCY - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The biopharmaceutical company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.15. The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $996.17 million. Incyte had a net margin of 0.48% and a return on equity of 2.77%. The company's revenue for the quarter was up 19.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.64 earnings per share. Equities analysts forecast that Incyte Corporation will post 4.86 earnings per share for the current year.

Incyte 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.