Man Group plc Has $50.36 Million Position in Incyte Co. (NASDAQ:INCY)

Man Group plc reduced its stake in Incyte Co. (NASDAQ:INCY) by 9.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 729,037 shares of the biopharmaceutical company’s stock after selling 75,915 shares during the quarter. Man Group plc owned approximately 0.38% of Incyte worth $50,355,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Barclays PLC boosted 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 worth $68,208,000 after purchasing an additional 77,542 shares in the last quarter. Czech National Bank increased its holdings in Incyte by 6.5% in the fourth quarter. Czech National Bank now owns 34,670 shares of the biopharmaceutical company’s stock valued at $2,395,000 after purchasing an additional 2,106 shares during the last quarter. Claro Advisors LLC bought a new stake in Incyte in the fourth quarter valued at about $255,000. 180 Wealth Advisors LLC increased its holdings in Incyte by 3.9% in the fourth quarter. 180 Wealth Advisors LLC now owns 5,231 shares of the biopharmaceutical company’s stock valued at $361,000 after purchasing an additional 195 shares during the last quarter. Finally, Burney Co. increased its holdings in shares of Incyte by 7.3% in the fourth quarter. Burney Co. now owns 3,262 shares of the biopharmaceutical company’s stock worth $225,000 after acquiring an additional 223 shares in the last quarter. 96.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Incyte

In related news, EVP Sheila A. Denton sold 14,069 shares of Incyte stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $74.07, for a total value of $1,042,090.83. Following the completion of the sale, the executive vice president now owns 25,848 shares in the company, valued at approximately $1,914,561.36. The trade was a 35.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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 transaction of $1,340,735.83. Following the sale, the executive vice president now owns 33,567 shares of the company’s stock, valued at approximately $2,272,150.23. The trade was a 37.11% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,475 shares of company stock valued at $2,424,751. Corporate insiders own 17.80% of the company’s stock.

Incyte Stock Performance

Shares of INCY opened at $61.16 on Thursday. The company has a quick ratio of 1.94, a current ratio of 1.97 and a debt-to-equity ratio of 0.01. The company has a 50-day simple moving average of $60.75 and a 200-day simple moving average of $68.56. Incyte Co. has a 52-week low of $53.56 and a 52-week high of $83.95. The company has a market capitalization of $11.84 billion, a PE ratio of 226.53, a P/E/G ratio of 0.41 and a beta of 0.68.

Incyte (NASDAQ:INCY) last released its quarterly earnings results 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 analysts’ expectations of $996.17 million. During the same period last year, the company earned $0.64 EPS. The firm’s revenue for the quarter was up 19.5% compared to the same quarter last year. Equities research analysts predict that Incyte Co. will post 4.86 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently commented on INCY shares. Wells Fargo & Company increased their price target on Incyte from $58.00 to $59.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 30th. Guggenheim downgraded 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. StockNews.com raised Incyte from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, April 30th. JMP Securities reaffirmed a “market perform” rating on shares of Incyte in a report on Tuesday, February 11th. Finally, JPMorgan Chase & Co. cut their price target on Incyte from $70.00 to $68.00 and set a “neutral” rating for the company in a report on Monday, April 21st. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Incyte has an average rating of “Hold” and a consensus price target of $73.53.

About Incyte

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.