Fairvoy Private Wealth LLC Makes New Investment in Incyte Corporation $INCY

Fairvoy Private Wealth LLC bought a new position in shares of Incyte Corporation (NASDAQ:INCY) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 5,304 shares of the biopharmaceutical company’s stock, valued at approximately $450,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. AQR Capital Management LLC grew its stake in Incyte by 92.3% during the 1st quarter. AQR Capital Management LLC now owns 6,736,169 shares of the biopharmaceutical company’s stock valued at $405,787,000 after acquiring an additional 3,233,356 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of Incyte by 701.8% in the second quarter. Arrowstreet Capital Limited Partnership now owns 2,730,648 shares of the biopharmaceutical company’s stock valued at $185,957,000 after purchasing an additional 2,390,084 shares in the last quarter. Norges Bank acquired a new stake in shares of Incyte in the second quarter valued at approximately $96,776,000. Marshall Wace LLP acquired a new stake in shares of Incyte in the second quarter valued at approximately $82,485,000. Finally, Robeco Institutional Asset Management B.V. lifted its position in Incyte by 71.5% during the second quarter. Robeco Institutional Asset Management B.V. now owns 2,386,311 shares of the biopharmaceutical company’s stock worth $162,508,000 after buying an additional 995,204 shares in the last quarter. 96.97% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Incyte

In related news, EVP Steven H. Stein sold 20,105 shares of the firm’s stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $102.51, for a total transaction of $2,060,963.55. Following the completion of the transaction, the executive vice president directly owned 63,129 shares in the company, valued at $6,471,353.79. This trade represents a 24.15% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Michael James Morrissey sold 4,323 shares of the business’s stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $97.26, for a total transaction of $420,454.98. Following the sale, the executive vice president owned 27,507 shares in the company, valued at $2,675,330.82. This trade represents a 13.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 84,944 shares of company stock valued at $8,372,543. Corporate insiders own 17.80% of the company’s stock.

Key Incyte News

Here are the key news stories impacting Incyte this week:

• Positive Sentiment: EC approves label expansion for Minjuvi (tafasitamab) to treat relapsed/refractory follicular lymphoma — expands European commercial opportunity and supports revenue upside for an approved oncology product. Zacks: EC Approves Label Expansion of INCY’s Lymphoma Drug Minjuvi
• Neutral Sentiment: Incyte launched a Phase 3 trial of INCA33890 in colorectal cancer — a meaningful advance in the pipeline that could drive long-term upside if successful, but clinical readouts are distant and binary. TipRanks: Incyte Steps Into Late-Stage Colorectal Cancer Race
• Negative Sentiment: Big insider sales by EVP Michael James Morrissey — filings show 54,008 shares sold (~$5.25M at ~$97.29) and an additional 4,323 shares (~$420k), materially reducing his stake. Large, clustered insider sales can signal near-term selling pressure or raise governance/speculation concerns even though the insider still holds stock. InsiderTrades: Incyte EVP Sells $420k in Stock

Wall Street Analyst Weigh In

A number of brokerages have issued reports on INCY. Stifel Nicolaus raised their target price on Incyte from $110.00 to $115.00 and gave the stock a “buy” rating in a research note on Monday, September 22nd. Wells Fargo & Company raised their price objective on shares of Incyte from $97.00 to $116.00 and gave the stock an “overweight” rating in a research report on Monday, December 8th. Mizuho set a $121.00 target price on shares of Incyte and gave the company an “outperform” rating in a report on Monday, December 8th. Piper Sandler increased their price target on shares of Incyte from $82.00 to $102.00 and gave the company an “overweight” rating in a research note on Tuesday, November 4th. Finally, Oppenheimer lowered shares of Incyte from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 8th. Eight equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $99.07.

Incyte Price Performance

Incyte stock opened at $102.69 on Friday. The company’s 50 day simple moving average is $98.21 and its 200-day simple moving average is $84.61. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.13 and a current ratio of 3.20. Incyte Corporation has a 1 year low of $53.56 and a 1 year high of $109.28. The company has a market capitalization of $20.16 billion, a price-to-earnings ratio of 17.20, a price-to-earnings-growth ratio of 0.66 and a beta of 0.81.

Incyte (NASDAQ:INCY) last posted its earnings results on Tuesday, October 28th. The biopharmaceutical company reported $2.26 earnings per share for the quarter, beating the consensus estimate of $1.65 by $0.61. Incyte had a net margin of 24.69% and a return on equity of 26.56%. The firm had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter last year, the firm earned $1.07 EPS. The firm’s revenue for the quarter was up 20.0% on a year-over-year basis. As a group, equities research analysts expect that Incyte Corporation will post 4.86 earnings per share for the current year.

Incyte Company 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.