WINTON GROUP Ltd Acquires 213,557 Shares of Incyte Corporation $INCY

Key Points

• WINTON GROUP Ltd raised its Incyte stake by 1,949.4% in Q3, purchasing an additional 213,557 shares to hold 224,512 shares valued at about $19.04 million, making Incyte its 12th-largest position.
• Insiders sold 72,561 shares worth roughly $7.20 million over the past three months—including transactions by Thomas Tray and EVP Mohamed Khairie Issa—leaving insiders with 17.8% ownership.
• Incyte reported Q results with EPS of $1.80, missing the $1.96 estimate while revenue rose 27.8% to $1.51 billion; analysts are mixed, with a consensus "Hold" rating and a $104 price target.

WINTON GROUP Ltd raised its holdings in Incyte Corporation (NASDAQ:INCY - Free Report) by 1,949.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 224,512 shares of the biopharmaceutical company's stock after purchasing an additional 213,557 shares during the period. Incyte accounts for about 0.7% of WINTON GROUP Ltd's holdings, making the stock its 12th biggest position. WINTON GROUP Ltd owned 0.11% of Incyte worth $19,041,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Incyte by 0.7% in the 2nd quarter. Vanguard Group Inc. now owns 20,135,393 shares of the biopharmaceutical company's stock worth $1,371,220,000 after buying an additional 137,570 shares during the period. AQR Capital Management LLC raised its holdings in Incyte by 21.8% during the 2nd quarter. AQR Capital Management LLC now owns 8,201,455 shares of the biopharmaceutical company's stock valued at $558,519,000 after acquiring an additional 1,465,286 shares during the period. Geode Capital Management LLC lifted its position in shares of Incyte by 3.3% during the second quarter. Geode Capital Management LLC now owns 4,347,731 shares of the biopharmaceutical company's stock worth $294,899,000 after acquiring an additional 139,740 shares in the last quarter. LSV Asset Management lifted its position in shares of Incyte by 3.2% during the third quarter. LSV Asset Management now owns 3,986,097 shares of the biopharmaceutical company's stock worth $338,061,000 after acquiring an additional 124,266 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Incyte by 7.3% in the second quarter. Invesco Ltd. now owns 3,401,018 shares of the biopharmaceutical company's stock worth $231,609,000 after acquiring an additional 232,268 shares during the period. 96.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Incyte

In other news, insider Thomas Tray sold 2,774 shares of the firm's stock in a transaction on Friday, December 19th. The shares were sold at an average price of $100.00, for a total transaction of $277,400.00. Following the sale, the insider owned 22,973 shares in the company, valued at approximately $2,297,300. This trade represents a 10.77% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Mohamed Khairie Issa sold 10,856 shares of Incyte stock in a transaction 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 sale, the executive vice president directly owned 66,132 shares of the company's stock, valued at $7,213,017.24. This represents a 14.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 72,561 shares of company stock worth $7,195,307 over the last three months. 17.80% of the stock is owned by insiders.

Incyte Price Performance

Shares of NASDAQ INCY opened at $95.94 on Monday. The firm has a market capitalization of $19.09 billion, a P/E ratio of 14.97, a P/E/G ratio of 0.76 and a beta of 0.84. The company has a quick ratio of 3.25, a current ratio of 3.32 and a debt-to-equity ratio of 0.01. The stock's 50-day simple moving average is $102.28 and its two-hundred day simple moving average is $96.32. Incyte Corporation has a twelve month low of $53.56 and a twelve month high of $112.29.

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

Wall Street Analyst Weigh In

A number of analysts recently issued reports on INCY shares. Stifel Nicolaus boosted their price objective on Incyte from $119.00 to $120.00 and gave the company a "buy" rating in a research note on Wednesday, February 11th. Wells Fargo & Company cut their target price on Incyte from $107.00 to $101.00 and set an "equal weight" rating for the company in a research note on Wednesday, February 11th. Royal Bank Of Canada reduced their target price on Incyte from $95.00 to $92.00 and set a "sector perform" rating for the company in a report on Wednesday, February 11th. The Goldman Sachs Group reiterated a "neutral" rating and set a $90.00 price target on shares of Incyte in a research report on Thursday, January 8th. Finally, Wall Street Zen downgraded shares of Incyte from a "strong-buy" rating to a "buy" rating in a report on Saturday, February 14th. Ten research 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, the stock currently has a consensus rating of "Hold" and a consensus price target of $104.00.

Incyte Company 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.

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