Nan Fung Group Holdings Ltd Sells 7,000 Shares of Incyte Co. (NASDAQ:INCY)

Nan Fung Group Holdings Ltd reduced its position in shares of Incyte Co. (NASDAQ:INCY) by 9.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 67,022 shares of the biopharmaceutical company’s stock after selling 7,000 shares during the period. Incyte makes up about 3.9% of Nan Fung Group Holdings Ltd’s portfolio, making the stock its 9th biggest holding. Nan Fung Group Holdings Ltd’s holdings in Incyte were worth $4,629,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. MML Investors Services LLC grew its position in shares of Incyte by 4.4% during the 3rd quarter. MML Investors Services LLC now owns 6,063 shares of the biopharmaceutical company’s stock worth $401,000 after purchasing an additional 256 shares in the last quarter. Barclays PLC grew its position in Incyte by 8.1% during the third quarter. Barclays PLC now owns 1,031,932 shares of the biopharmaceutical company’s stock worth $68,208,000 after buying an additional 77,542 shares in the last quarter. Tri Ri Asset Management Corp bought a new position in Incyte during the 3rd quarter worth $3,292,000. GAMMA Investing LLC raised its holdings in Incyte by 18.3% in the 4th quarter. GAMMA Investing LLC now owns 5,764 shares of the biopharmaceutical company’s stock valued at $398,000 after acquiring an additional 890 shares in the last quarter. Finally, Everence Capital Management Inc. bought a new stake in shares of Incyte during the 4th quarter valued at $265,000. 96.97% of the stock is currently owned by institutional investors.

Insider Transactions at Incyte

In other news, EVP Steven H. Stein sold 12,352 shares of the business’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $72.69, for a total value of $897,866.88. Following the transaction, the executive vice president now directly owns 66,967 shares of the company’s stock, valued at $4,867,831.23. The trade was a 15.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Sheila A. Denton sold 599 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $69.99, for a total value of $41,924.01. Following the completion of the transaction, the executive vice president now directly owns 25,848 shares in the company, valued at approximately $1,809,101.52. This trade represents a 2.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 46,827 shares of company stock worth $3,322,618. Company insiders own 17.60% of the company’s stock.

Analyst Ratings Changes

INCY has been the topic of a number of recent analyst reports. Truist Financial decreased their price target on Incyte from $74.00 to $72.00 and set a “hold” rating on the stock in a research report on Tuesday, March 18th. JMP Securities reiterated a “market perform” rating on shares of Incyte in a research note on Tuesday, February 11th. Citigroup dropped their target price on shares of Incyte from $97.00 to $88.00 and set a “buy” rating for the company in a research report on Tuesday, February 11th. StockNews.com lowered shares of Incyte from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 12th. Finally, Guggenheim downgraded shares of Incyte from a “buy” rating to a “neutral” rating and set a $92.00 price objective for the company. in a research report on Tuesday, March 18th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $74.88.

Incyte Stock Performance

Shares of INCY stock opened at $58.21 on Friday. The firm has a market capitalization of $11.27 billion, a price-to-earnings ratio of 215.60, a PEG ratio of 0.41 and a beta of 0.89. The company has a current ratio of 1.97, a quick ratio of 1.94 and a debt-to-equity ratio of 0.01. The business’s 50-day moving average price is $64.84 and its 200-day moving average price is $69.30. Incyte Co. has a 12 month low of $50.35 and a 12 month high of $83.95.

Incyte (NASDAQ:INCY) last issued its quarterly earnings data on Monday, February 10th. The biopharmaceutical company reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.57 by ($0.48). Incyte had a return on equity of 0.05% and a net margin of 0.77%. Equities research analysts forecast that Incyte Co. will post 4.86 EPS for the current year.

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.