Mn Services Vermogensbeheer B.V. Sells 6,600 Shares of Incyte Corporation $INCY

Key Points

• Mn Services Vermogensbeheer B.V. reduced its stake in Incyte Corporation by 18.1% in Q2, selling 6,600 shares and holding 29,900 shares valued at $2,036,000.
• Recent transactions revealed that company insiders sold a total of 56,376 shares worth approximately $3.86 million in the last 90 days, indicating a 17.80% ownership by insiders.
• Analysts have mixed views on Incyte, with multiple firms raising their price targets; the average rating is currently Hold with a consensus price target of $82.53.

Mn Services Vermogensbeheer B.V. cut its holdings in shares of Incyte Corporation (NASDAQ:INCY - Free Report) by 18.1% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 29,900 shares of the biopharmaceutical company's stock after selling 6,600 shares during the quarter. Mn Services Vermogensbeheer B.V.'s holdings in Incyte were worth $2,036,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Banque Transatlantique SA purchased a new position in shares of Incyte during the first quarter worth approximately $26,000. SVB Wealth LLC bought a new position in shares of Incyte in the first quarter worth approximately $39,000. Geneos Wealth Management Inc. grew its holdings in shares of Incyte by 350.0% in the first quarter. Geneos Wealth Management Inc. now owns 756 shares of the biopharmaceutical company's stock worth $46,000 after purchasing an additional 588 shares during the last quarter. WPG Advisers LLC bought a new position in shares of Incyte in the first quarter worth approximately $47,000. Finally, Caitong International Asset Management Co. Ltd grew its holdings in shares of Incyte by 161.2% in the first quarter. Caitong International Asset Management Co. Ltd now owns 854 shares of the biopharmaceutical company's stock worth $52,000 after purchasing an additional 527 shares during the last quarter. 96.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on INCY. Royal Bank Of Canada raised their target price on shares of Incyte from $68.00 to $72.00 and gave the stock a "sector perform" rating in a report on Wednesday, July 30th. JPMorgan Chase & Co. raised their target price on shares of Incyte from $67.00 to $73.00 and gave the stock a "neutral" rating in a report on Friday, August 22nd. Barclays began coverage on shares of Incyte in a report on Friday, August 1st. They issued an "overweight" rating and a $90.00 target price on the stock. Wall Street Zen cut shares of Incyte from a "strong-buy" rating to a "buy" rating in a report on Saturday, September 13th. Finally, UBS Group reiterated a "neutral" rating and issued a $68.00 price target (up previously from $62.00) on shares of Incyte in a report on Wednesday, July 30th. Seven research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Incyte presently has an average rating of "Hold" and an average target price of $83.07.

Insider Buying and Selling

In other news, EVP Barry P. Flannelly sold 10,903 shares of Incyte stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $68.15, for a total value of $743,039.45. Following the completion of the transaction, the executive vice president owned 39,744 shares of the company's stock, valued at $2,708,553.60. The trade was a 21.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Vijay K. Iyengar sold 8,617 shares of the business's stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $68.15, for a total value of $587,248.55. Following the completion of the transaction, the executive vice president directly owned 37,701 shares of the company's stock, valued at approximately $2,569,323.15. This trade represents a 18.60% decrease in their position. The disclosure for this sale can be found here. Insiders sold 56,376 shares of company stock worth $3,859,312 in the last 90 days. 17.80% of the stock is owned by company insiders.

Incyte Stock Up 0.6%

Incyte stock traded up $0.54 on Tuesday, hitting $85.27. 410,655 shares of the stock traded hands, compared to its average volume of 1,864,841. The company has a current ratio of 2.85, a quick ratio of 2.78 and a debt-to-equity ratio of 0.01. The firm has a market cap of $16.65 billion, a P/E ratio of 19.41, a price-to-earnings-growth ratio of 0.68 and a beta of 0.75. The business's fifty day simple moving average is $80.47 and its 200 day simple moving average is $69.65. Incyte Corporation has a 1 year low of $53.56 and a 1 year high of $87.99.

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.