Candriam S.C.A. Sells 277,789 Shares of Incyte Corporation $INCY

Candriam S.C.A. cut its stake in shares of Incyte Corporation (NASDAQ:INCY) by 26.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 753,332 shares of the biopharmaceutical company’s stock after selling 277,789 shares during the period. Candriam S.C.A.’s holdings in Incyte were worth $63,890,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Harbor Capital Advisors Inc. purchased a new position in shares of Incyte during the 3rd quarter valued at about $26,000. FNY Investment Advisers LLC purchased a new stake in Incyte in the 2nd quarter worth approximately $27,000. Root Financial Partners LLC bought a new stake in Incyte during the 3rd quarter worth approximately $28,000. Quent Capital LLC bought a new stake in Incyte during the 3rd quarter worth approximately $30,000. Finally, MUFG Securities EMEA plc purchased a new position in Incyte during the second quarter valued at approximately $32,000. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Insider Transactions at Incyte

In other news, EVP Michael James Morrissey sold 54,008 shares of the stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $97.29, for a total transaction of $5,254,438.32. Following the completion of the transaction, the executive vice president directly owned 31,830 shares in the company, valued at approximately $3,096,740.70. This represents a 62.92% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mohamed Khairie Issa sold 10,856 shares of the firm’s stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $109.07, for a total transaction of $1,184,063.92. Following the completion of the transaction, the executive vice president directly owned 66,132 shares of the company’s stock, valued at approximately $7,213,017.24. This trade represents a 14.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 95,225 shares of company stock valued at $9,519,745 in the last ninety days. Corporate insiders own 17.80% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on INCY. Zacks Research cut shares of Incyte from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 10th. Royal Bank Of Canada upped their target price on shares of Incyte from $81.00 to $84.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 29th. Guggenheim upgraded Incyte from a “neutral” rating to a “buy” rating and set a $125.00 price target for the company in a research note on Monday, November 3rd. Mizuho set a $121.00 price target on Incyte and gave the company an “outperform” rating in a report on Monday, December 8th. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $107.00 price objective (down previously from $116.00) on shares of Incyte in a research note on Tuesday, January 20th. Nine investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Incyte has an average rating of “Hold” and an average price target of $103.29.

Incyte Trading Up 5.5%

Shares of Incyte stock opened at $108.39 on Monday. The firm has a market cap of $21.28 billion, a price-to-earnings ratio of 18.16, a PEG ratio of 0.65 and a beta of 0.82. The business has a 50-day moving average price of $101.69 and a 200-day moving average price of $93.29. The company has a quick ratio of 3.13, a current ratio of 3.20 and a debt-to-equity ratio of 0.01. Incyte Corporation has a twelve month low of $53.56 and a twelve month high of $112.29.

Incyte Profile

Incyte Corporation is a Wilmington, Delaware–based biopharmaceutical company focused on the discovery, development and commercialization of novel therapies in oncology and inflammation. Since its founding in 2002, Incyte has grown from a small research organization into a global enterprise, advancing a portfolio of internally developed and partnered assets. The company’s research and development efforts center on small-molecule drugs and biologics that modulate critical signaling pathways implicated in cancer, autoimmune disorders and rare diseases.

The company’s flagship product is Jakafi® (ruxolitinib), a Janus kinase (JAK) inhibitor approved for the treatment of myelofibrosis and polycythemia vera.