Moody National Bank Trust Division Acquires 179 Shares of Incyte Co. (NASDAQ:INCY)

Moody National Bank Trust Division grew its stake in shares of Incyte Co. (NASDAQ:INCY) by 1.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,199 shares of the biopharmaceutical company’s stock after buying an additional 179 shares during the quarter. Moody National Bank Trust Division’s holdings in Incyte were worth $861,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Fisher Asset Management LLC raised its stake in shares of Incyte by 0.4% during the fourth quarter. Fisher Asset Management LLC now owns 44,169 shares of the biopharmaceutical company’s stock valued at $2,773,000 after acquiring an additional 187 shares during the last quarter. 180 Wealth Advisors LLC lifted its holdings in Incyte by 4.5% in the 1st quarter. 180 Wealth Advisors LLC now owns 4,764 shares of the biopharmaceutical company’s stock worth $271,000 after buying an additional 204 shares during the period. Berger Financial Group Inc grew its position in shares of Incyte by 0.4% in the 4th quarter. Berger Financial Group Inc now owns 60,468 shares of the biopharmaceutical company’s stock worth $3,797,000 after buying an additional 212 shares during the last quarter. Allworth Financial LP increased its stake in shares of Incyte by 40.0% during the fourth quarter. Allworth Financial LP now owns 802 shares of the biopharmaceutical company’s stock valued at $50,000 after buying an additional 229 shares during the period. Finally, Empirical Finance LLC raised its holdings in shares of Incyte by 3.7% during the first quarter. Empirical Finance LLC now owns 6,395 shares of the biopharmaceutical company’s stock valued at $364,000 after acquiring an additional 230 shares in the last quarter. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on INCY shares. TD Cowen decreased their price objective on shares of Incyte from $88.00 to $80.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Incyte from $55.00 to $60.00 and gave the stock a “hold” rating in a report on Thursday. Truist Financial reaffirmed a “buy” rating and set a $83.00 price objective (down from $84.00) on shares of Incyte in a research report on Wednesday, May 1st. Cantor Fitzgerald reissued a “neutral” rating on shares of Incyte in a research report on Tuesday, June 18th. Finally, Citigroup lifted their price target on Incyte from $80.00 to $88.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $73.24.

Incyte Stock Performance

INCY traded down $2.47 during midday trading on Monday, hitting $62.00. 2,359,832 shares of the company traded hands, compared to its average volume of 2,557,450. The company’s 50-day moving average is $61.88 and its 200 day moving average is $58.77. Incyte Co. has a 52 week low of $50.27 and a 52 week high of $70.36. The firm has a market capitalization of $11.94 billion, a PE ratio of 19.54, a price-to-earnings-growth ratio of 1.14 and a beta of 0.73. The company has a quick ratio of 3.43, a current ratio of 1.92 and a debt-to-equity ratio of 0.01.

Incyte (NASDAQ:INCY) last issued its earnings results on Tuesday, July 30th. The biopharmaceutical company reported ($1.82) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($2.60). The company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Incyte had a return on equity of 0.75% and a net margin of 2.52%. The company’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.77 EPS. On average, research analysts expect that Incyte Co. will post 3.35 EPS for the current year.

Insider Buying and Selling

In other Incyte news, insider Thomas Tray sold 1,093 shares of the firm’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $58.91, for a total value of $64,388.63. Following the transaction, the insider now directly owns 21,634 shares of the company’s stock, valued at $1,274,458.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Barry P. Flannelly sold 19,164 shares of the company’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $60.00, for a total value of $1,149,840.00. Following the completion of the sale, the executive vice president now directly owns 66,377 shares in the company, valued at approximately $3,982,620. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Thomas Tray sold 1,093 shares of the business’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $58.91, for a total value of $64,388.63. Following the sale, the insider now directly owns 21,634 shares of the company’s stock, valued at approximately $1,274,458.94. The disclosure for this sale can be found here. Insiders sold 45,282 shares of company stock valued at $2,876,911 over the last 90 days. Company insiders own 17.50% of the company’s stock.

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.