Kapitalo Investimentos Ltda Purchases New Position in Incyte Co. (NASDAQ:INCY)

Kapitalo Investimentos Ltda purchased a new stake in Incyte Co. (NASDAQ:INCY - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 4,403 shares of the biopharmaceutical company's stock, valued at approximately $304,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Quintet Private Bank Europe S.A. acquired a new position in Incyte in the 4th quarter valued at approximately $26,000. Global X Japan Co. Ltd. raised its holdings in shares of Incyte by 144.7% during the fourth quarter. Global X Japan Co. Ltd. now owns 389 shares of the biopharmaceutical company's stock worth $27,000 after acquiring an additional 230 shares in the last quarter. R Squared Ltd purchased a new stake in shares of Incyte during the fourth quarter worth $30,000. Blue Trust Inc. boosted its position in Incyte by 124.6% during the fourth quarter. Blue Trust Inc. now owns 593 shares of the biopharmaceutical company's stock valued at $39,000 after purchasing an additional 329 shares during the last quarter. Finally, Bradley & Co. Private Wealth Management LLC purchased a new position in Incyte in the fourth quarter valued at about $42,000. Institutional investors and hedge funds own 96.97% of the company's stock.

Insider Buying and Selling at Incyte

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

Wall Street Analysts Forecast Growth

INCY has been the subject of several recent research reports. StockNews.com raised Incyte from a "buy" rating to a "strong-buy" rating in a research note on Wednesday. JPMorgan Chase & Co. decreased their target price on shares of Incyte from $70.00 to $68.00 and set a "neutral" rating for the company in a research report on Monday, April 21st. JMP Securities reaffirmed a "market perform" rating on shares of Incyte in a research note on Tuesday, February 11th. Stifel Nicolaus upped their price objective on shares of Incyte from $75.00 to $77.00 and gave the stock a "hold" rating in a report on Monday, February 10th. Finally, Guggenheim lowered Incyte from a "buy" rating to a "neutral" rating and set a $92.00 target price on the stock. in a report on Tuesday, March 18th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Incyte currently has an average rating of "Hold" and a consensus target price of $73.53.

Incyte Stock Performance

Shares of Incyte stock traded up $0.50 during midday trading on Friday, hitting $62.53. The company had a trading volume of 1,525,246 shares, compared to its average volume of 2,356,747. The stock has a market cap of $12.10 billion, a PE ratio of 231.60, a P/E/G ratio of 0.41 and a beta of 0.89. Incyte Co. has a 1-year low of $52.73 and a 1-year high of $83.95. The business's 50 day simple moving average is $62.53 and its two-hundred day simple moving average is $68.85. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.94.

Incyte (NASDAQ:INCY - Get Free Report) last posted its quarterly earnings data 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. Incyte had a net margin of 0.77% and a return on equity of 0.05%. The company 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 firm posted $0.64 EPS. 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.

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.