Hsbc Holdings PLC Has $71.91 Million Position in Incyte Co. (NASDAQ:INCY)

Hsbc Holdings PLC reduced its stake in shares of Incyte Co. (NASDAQ:INCY - Free Report) by 16.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,042,059 shares of the biopharmaceutical company's stock after selling 204,868 shares during the quarter. Hsbc Holdings PLC owned about 0.54% of Incyte worth $71,912,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Barclays PLC grew its stake in Incyte by 8.1% in the third quarter. Barclays PLC now owns 1,031,932 shares of the biopharmaceutical company's stock valued at $68,208,000 after acquiring an additional 77,542 shares during the period. Tri Ri Asset Management Corp acquired a new position in shares of Incyte in the 3rd quarter valued at approximately $3,292,000. GAMMA Investing LLC increased its stake in Incyte by 18.3% during the 4th quarter. GAMMA Investing LLC now owns 5,764 shares of the biopharmaceutical company's stock worth $398,000 after purchasing an additional 890 shares in the last quarter. Everence Capital Management Inc. acquired a new stake in Incyte during the 4th quarter worth approximately $265,000. Finally, Nordea Investment Management AB lifted its stake in Incyte by 9.2% in the fourth quarter. Nordea Investment Management AB now owns 13,738 shares of the biopharmaceutical company's stock valued at $945,000 after buying an additional 1,153 shares in the last quarter. 96.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Incyte

In other Incyte news, EVP Sheila A. Denton sold 599 shares of the stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $69.99, for a total value of $41,924.01. Following the transaction, the executive vice president now directly owns 25,848 shares of the company's stock, valued at $1,809,101.52. This represents a 2.26 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Barry P. Flannelly sold 19,807 shares of the business's stock in a transaction on Friday, March 14th. The shares were sold at an average price of $67.69, for a total value of $1,340,735.83. Following the completion of the sale, the executive vice president now owns 33,567 shares of the company's stock, valued at $2,272,150.23. This trade represents a 37.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 34,475 shares of company stock worth $2,424,751. Company insiders own 17.60% of the company's stock.

Incyte Stock Performance

Shares of Incyte stock traded up $0.84 during trading on Wednesday, hitting $61.27. 432,626 shares of the stock were exchanged, compared to its average volume of 2,363,678. The company has a current ratio of 1.97, a quick ratio of 1.94 and a debt-to-equity ratio of 0.01. The company has a fifty day moving average price of $63.19 and a 200-day moving average price of $68.94. The stock has a market capitalization of $11.86 billion, a price-to-earnings ratio of 226.36, a price-to-earnings-growth ratio of 0.41 and a beta of 0.89. Incyte Co. has a 1-year low of $50.35 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 for the quarter, topping analysts' consensus estimates of $1.01 by $0.15. Incyte had a return on equity of 0.05% and a net margin of 0.77%. The firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $996.17 million. During the same quarter in the previous year, the business earned $0.64 earnings per share. The business's revenue was up 19.5% compared to the same quarter last year. As a group, equities analysts predict that Incyte Co. will post 4.86 EPS for the current fiscal year.

Analyst Ratings Changes

INCY has been the topic of a number of research analyst reports. Royal Bank of Canada raised their price objective on shares of Incyte from $64.00 to $67.00 and gave the stock a "sector perform" rating in a report on Wednesday. Guggenheim downgraded Incyte from a "buy" rating to a "neutral" rating and set a $92.00 price target on the stock. in a research note on Tuesday, March 18th. Morgan Stanley reduced their price objective on Incyte from $69.00 to $65.00 and set an "equal weight" rating for the company in a research report on Monday, March 24th. Cantor Fitzgerald reiterated a "neutral" rating on shares of Incyte in a report on Friday, January 10th. Finally, Stifel Nicolaus boosted their target price on Incyte from $75.00 to $77.00 and gave the company a "hold" rating in a research note on Monday, February 10th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $74.63.

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.