WINTON GROUP Ltd Has $28.84 Million Stock Position in Incyte Corporation $INCY

WINTON GROUP Ltd boosted its stake in Incyte Corporation (NASDAQ:INCY) by 47.0% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 254,408 shares of the biopharmaceutical company’s stock after buying an additional 81,376 shares during the period. Incyte accounts for approximately 0.9% of WINTON GROUP Ltd’s holdings, making the stock its 12th largest position. WINTON GROUP Ltd’s holdings in Incyte were worth $28,840,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. NewEdge Advisors LLC grew its holdings in shares of Incyte by 369.3% in the 1st quarter. NewEdge Advisors LLC now owns 12,597 shares of the biopharmaceutical company’s stock worth $763,000 after purchasing an additional 9,913 shares during the last quarter. Jones Financial Companies Lllp lifted its holdings in Incyte by 15.1% during the 1st quarter. Jones Financial Companies Lllp now owns 4,944 shares of the biopharmaceutical company’s stock valued at $299,000 after purchasing an additional 648 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in Incyte by 6.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 814,559 shares of the biopharmaceutical company’s stock valued at $49,322,000 after purchasing an additional 48,751 shares during the last quarter. United Services Automobile Association acquired a new position in Incyte in the first quarter valued at about $219,000. Finally, Focus Partners Wealth boosted its position in Incyte by 74.1% in the first quarter. Focus Partners Wealth now owns 21,024 shares of the biopharmaceutical company’s stock valued at $1,273,000 after buying an additional 8,951 shares in the last quarter. 96.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently weighed in on INCY. Oppenheimer reaffirmed a “market perform” rating and set a $120.00 price objective on shares of Incyte in a report on Tuesday, July 28th. Morgan Stanley set a $119.00 target price on Incyte in a report on Wednesday, July 29th. Sanford C. Bernstein restated a “market perform” rating and set a $104.00 price target on shares of Incyte in a research report on Thursday, August 13th. Stifel Nicolaus set a $145.00 price target on Incyte in a report on Tuesday, July 28th. Finally, Barclays raised their price target on Incyte from $134.00 to $139.00 and gave the company an “overweight” rating in a report on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and twelve have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $124.05.

Insider Activity at Incyte

In other news, EVP Patrick A. Mayes sold 41,899 shares of Incyte stock in a transaction on Friday, July 31st. The stock was sold at an average price of $119.46, for a total value of $5,005,254.54. Following the completion of the sale, the executive vice president directly owned 61,441 shares of the company’s stock, valued at approximately $7,339,741.86. This trade represents a 40.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Pablo J. Cagnoni sold 10,801 shares of Incyte stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $125.56, for a total value of $1,356,173.56. Following the completion of the sale, the insider directly owned 183,200 shares of the company’s stock, valued at $23,002,592. This trade represents a 5.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 16.20% of the company’s stock.

Incyte Trading Up 1.3%

INCY opened at $126.01 on Thursday. Incyte Corporation has a 1-year low of $81.09 and a 1-year high of $132.60. The stock has a market capitalization of $25.54 billion, a PE ratio of 16.05, a PEG ratio of 3.62 and a beta of 0.77. The firm has a 50-day moving average price of $121.58 and a two-hundred day moving average price of $106.40.

Incyte (NASDAQ:INCY) last announced its earnings results on Tuesday, July 28th. The biopharmaceutical company reported $3.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.94. Incyte had a net margin of 27.71% and a return on equity of 29.93%. The company had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same period in the prior year, the business earned $1.57 earnings per share. Incyte’s quarterly revenue was up 37.7% on a year-over-year basis. On average, research analysts predict that Incyte Corporation will post 2.64 EPS for the current year.

About Incyte

Incyte Corporation is a biopharmaceutical company focused on discovering, developing and commercializing medicines for oncology and inflammatory diseases. Founded in 1991 and headquartered in Wilmington, Delaware, the company conducts research in areas including oncology, hematology, immunology and dermatology.

Incyte’s commercial portfolio includes Jakafi (ruxolitinib), a treatment for certain myelofibrosis, polycythemia vera and graft-versus-host disease; Opzelura (ruxolitinib) cream for atopic dermatitis and nonsegmental vitiligo; and Pemazyre (pemigatinib) for selected cancers involving abnormal FGFR signaling.