Korea Investment CORP cut its position in shares of Incyte Corporation (NASDAQ:INCY) by 5.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 74,054 shares of the biopharmaceutical company’s stock after selling 4,496 shares during the period. Korea Investment CORP’s holdings in Incyte Corporation were worth $9,324,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in INCY. D. Scott Neal Inc. bought a new position in Incyte Corporation during the second quarter worth about $103,000. Tower Research Capital LLC TRC bought a new position in Incyte Corporation during the first quarter worth about $105,000. Cornerstone Advisors Inc. raised its position in Incyte Corporation by 19.6% in the second quarter. Cornerstone Advisors Inc. now owns 884 shares of the biopharmaceutical company’s stock worth $111,000 after buying an additional 145 shares during the last quarter. Exane Asset Management bought a new position in Incyte Corporation during the second quarter worth about $126,000. Finally, FNY Partners Fund LP raised its position in Incyte Corporation by 4,825.0% in the first quarter. FNY Partners Fund LP now owns 985 shares of the biopharmaceutical company’s stock worth $131,000 after buying an additional 965 shares during the last quarter. 91.54% of the stock is currently owned by institutional investors and hedge funds.
Incyte Corporation (INCY) traded down 0.45% during trading on Friday, reaching $121.19. The company had a trading volume of 958,477 shares. The stock has a 50 day moving average price of $129.70 and a 200 day moving average price of $129.55. The firm’s market capitalization is $24.93 billion. Incyte Corporation has a 12 month low of $77.58 and a 12 month high of $153.15.
Incyte Corporation (NASDAQ:INCY) last released its quarterly earnings data on Tuesday, August 1st. The biopharmaceutical company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.05) by $0.01. Incyte Corporation had a negative net margin of 11.77% and a negative return on equity of 21.57%. The company had revenue of $326.40 million during the quarter, compared to the consensus estimate of $318.45 million. During the same quarter in the prior year, the company posted $0.18 earnings per share. The company’s revenue for the quarter was up 32.5% on a year-over-year basis. On average, equities research analysts predict that Incyte Corporation will post ($0.86) earnings per share for the current year.
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INCY has been the topic of a number of recent research reports. J P Morgan Chase & Co set a $149.00 target price on Incyte Corporation and gave the company a “buy” rating in a report on Thursday, May 18th. Jefferies Group LLC reissued a “buy” rating and issued a $148.00 target price on shares of Incyte Corporation in a report on Thursday, May 18th. Cowen and Company reissued a “buy” rating on shares of Incyte Corporation in a report on Monday, May 15th. Credit Suisse Group reissued a “buy” rating on shares of Incyte Corporation in a report on Saturday, June 10th. Finally, BidaskClub raised Incyte Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, June 27th. Eight investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. Incyte Corporation presently has a consensus rating of “Buy” and an average target price of $140.16.
In other Incyte Corporation news, Director Jean Jacques Bienaime bought 500 shares of Incyte Corporation stock in a transaction dated Wednesday, May 31st. The shares were acquired at an average cost of $131.80 per share, with a total value of $65,900.00. Following the acquisition, the director now directly owns 4,677 shares of the company’s stock, valued at $616,428.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO David W. Gryska sold 16,756 shares of the business’s stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $116.60, for a total value of $1,953,749.60. Following the completion of the transaction, the chief financial officer now directly owns 35,771 shares in the company, valued at $4,170,898.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 48,183 shares of company stock worth $5,976,946. Corporate insiders own 17.70% of the company’s stock.
Incyte Corporation Company Profile
Incyte Corporation is a biopharmaceutical company focused on the discovery, development and commercialization of therapeutics. Its portfolio includes compounds in various stages, ranging from preclinical to late-stage development, and commercialized products, such as JAKAFI (ruxolitinib) and ICLUSIG (ponatinib).
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