Bessemer Group Inc. Has $3.39 Million Stock Position in Incyte Co. (NASDAQ:INCY)

Bessemer Group Inc. lifted its stake in shares of Incyte Co. (NASDAQ:INCY) by 1.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 49,091 shares of the biopharmaceutical company’s stock after purchasing an additional 733 shares during the period. Bessemer Group Inc.’s holdings in Incyte were worth $3,389,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in INCY. Geode Capital Management LLC grew its holdings in shares of Incyte by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 4,040,086 shares of the biopharmaceutical company’s stock valued at $278,346,000 after buying an additional 103,910 shares during the period. Norges Bank bought a new position in Incyte in the fourth quarter valued at $121,890,000. Charles Schwab Investment Management Inc. increased its stake in Incyte by 2.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,643,067 shares of the biopharmaceutical company’s stock valued at $113,487,000 after buying an additional 33,847 shares during the last quarter. Pictet Asset Management Holding SA increased its stake in Incyte by 73.4% in the 4th quarter. Pictet Asset Management Holding SA now owns 1,313,873 shares of the biopharmaceutical company’s stock valued at $90,749,000 after buying an additional 556,218 shares during the last quarter. Finally, Sound Shore Management Inc. CT boosted its stake in shares of Incyte by 98.4% during the 4th quarter. Sound Shore Management Inc. CT now owns 1,201,089 shares of the biopharmaceutical company’s stock worth $82,959,000 after buying an additional 595,741 shares during the last quarter. Institutional investors own 96.97% of the company’s stock.

Incyte Stock Performance

NASDAQ INCY opened at $56.87 on Friday. The company has a market capitalization of $11.01 billion, a price-to-earnings ratio of 210.64, a PEG ratio of 0.41 and a beta of 0.89. The company has a quick ratio of 1.94, a current ratio of 1.97 and a debt-to-equity ratio of 0.01. Incyte Co. has a twelve month low of $50.35 and a twelve month high of $83.95. The stock has a fifty day simple moving average of $66.19 and a 200 day simple moving average of $69.59.

Incyte (NASDAQ:INCY) last issued its quarterly earnings results 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 net margin of 0.77% and a return on equity of 0.05%. Sell-side analysts expect that Incyte Co. will post 4.86 EPS for the current year.

Insider Buying and Selling at Incyte

In other Incyte news, EVP Barry P. Flannelly sold 19,807 shares of the stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $67.69, for a total transaction of $1,340,735.83. Following the completion of the sale, the executive vice president now directly owns 33,567 shares in the company, valued at approximately $2,272,150.23. This trade represents a 37.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Sheila A. Denton sold 14,069 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 25,848 shares in the company, valued at $1,914,561.36. This represents a 35.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 46,827 shares of company stock valued at $3,322,618. 17.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on INCY shares. Royal Bank of Canada decreased their price target on Incyte from $70.00 to $68.00 and set a “sector perform” rating for the company in a research note on Tuesday, February 11th. JMP Securities reiterated a “market perform” rating on shares of Incyte in a research note on Tuesday, February 11th. UBS Group started coverage on Incyte in a research report on Tuesday, December 17th. They set a “neutral” rating and a $77.00 price objective on the stock. Guggenheim downgraded shares of Incyte from a “buy” rating to a “neutral” rating and set a $92.00 price target for the company. in a research report on Tuesday, March 18th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Incyte in a research report on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Incyte has an average rating of “Hold” and an average price target of $74.88.

Incyte Company Profile

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.