WINTON GROUP Ltd Sells 121,015 Shares of Incyte Corporation $INCY

Key Points

• WINTON GROUP Ltd cut its Incyte stake by 53.9% in the fourth quarter, selling 121,015 shares and ending with 103,497 shares valued at about $10.2 million.
• Incyte beat earnings expectations in its latest quarter, reporting $1.81 EPS versus the $1.38 consensus and revenue of $1.27 billion, up 20.9% year over year.
• Analysts remain cautious overall despite some bullish calls: the stock has a consensus rating of “Hold” with an average price target of $104, while shares recently traded around $102.38.

WINTON GROUP Ltd decreased its holdings in shares of Incyte Corporation (NASDAQ:INCY - Free Report) by 53.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 103,497 shares of the biopharmaceutical company's stock after selling 121,015 shares during the period. WINTON GROUP Ltd owned about 0.05% of Incyte worth $10,222,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Geode Capital Management LLC grew its position in shares of Incyte by 11.3% during the 4th quarter. Geode Capital Management LLC now owns 4,993,012 shares of the biopharmaceutical company's stock valued at $491,500,000 after acquiring an additional 506,842 shares during the period. LSV Asset Management boosted its holdings in Incyte by 3.2% in the 3rd quarter. LSV Asset Management now owns 3,986,097 shares of the biopharmaceutical company's stock worth $338,061,000 after buying an additional 124,266 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in Incyte by 13.7% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 3,103,946 shares of the biopharmaceutical company's stock worth $263,246,000 after buying an additional 373,298 shares during the period. Robeco Institutional Asset Management B.V. boosted its holdings in Incyte by 7.0% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 2,480,793 shares of the biopharmaceutical company's stock worth $245,028,000 after buying an additional 161,405 shares during the period. Finally, Man Group plc boosted its holdings in Incyte by 20.0% in the 3rd quarter. Man Group plc now owns 1,933,547 shares of the biopharmaceutical company's stock worth $163,984,000 after buying an additional 322,877 shares during the period. Institutional investors own 96.97% of the company's stock.

Incyte Stock Up 1.1%

Shares of NASDAQ INCY opened at $102.38 on Friday. The firm's 50-day moving average price is $96.49 and its 200-day moving average price is $99.09. The company has a current ratio of 3.68, a quick ratio of 3.60 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $20.45 billion, a price-to-earnings ratio of 14.46, a P/E/G ratio of 0.98 and a beta of 0.79. Incyte Corporation has a 12-month low of $66.74 and a 12-month high of $112.29.

Incyte (NASDAQ:INCY - Get Free Report) last announced its earnings results on Tuesday, April 28th. The biopharmaceutical company reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.43. The firm had revenue of $1.27 billion for the quarter, compared to analysts' expectations of $1.22 billion. Incyte had a net margin of 26.71% and a return on equity of 26.66%. The business's revenue was up 20.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.16 EPS. On average, equities research analysts anticipate that Incyte Corporation will post 6.65 EPS for the current fiscal year.

Insider Activity

In related news, insider Pablo J. Cagnoni sold 18,667 shares of the stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $96.50, for a total value of $1,801,365.50. Following the sale, the insider directly owned 262,692 shares of the company's stock, valued at $25,349,778. This represents a 6.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 16.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Wall Street Zen downgraded shares of Incyte from a "strong-buy" rating to a "buy" rating in a report on Saturday, February 14th. Oppenheimer upped their target price on shares of Incyte from $84.00 to $90.00 and gave the stock a "market perform" rating in a report on Wednesday, April 29th. Royal Bank Of Canada dropped their target price on shares of Incyte from $95.00 to $92.00 and set a "sector perform" rating for the company in a report on Wednesday, February 11th. HC Wainwright reaffirmed a "buy" rating and issued a $135.00 target price on shares of Incyte in a report on Thursday, May 21st. Finally, UBS Group dropped their target price on shares of Incyte from $104.00 to $94.00 and set a "neutral" rating for the company in a report on Wednesday, March 25th. Nine investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average 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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