Commerzbank Aktiengesellschaft FI Invests $211,000 in Incyte Corporation $INCY

Key Points

• Commerzbank Aktiengesellschaft FI invested approximately $211,000 in Incyte Corporation, acquiring 3,087 shares during the second quarter.
• Several institutional investors, including Vanguard Group Inc. and AQR Capital Management LLC, have notably increased their stakes in Incyte, with institutional ownership now reaching 96.97%.
• Incyte's stock has a current market cap of $16.36 billion, with shares trading between a one-year low of $53.56 and a high of $88.66.

Commerzbank Aktiengesellschaft FI bought a new position in Incyte Corporation (NASDAQ:INCY - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 3,087 shares of the biopharmaceutical company's stock, valued at approximately $211,000.

Several other hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. grew its stake in shares of Incyte by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 19,997,823 shares of the biopharmaceutical company's stock valued at $1,210,868,000 after acquiring an additional 417,346 shares during the period. AQR Capital Management LLC lifted its holdings in Incyte by 92.3% during the first quarter. AQR Capital Management LLC now owns 6,736,169 shares of the biopharmaceutical company's stock valued at $405,787,000 after purchasing an additional 3,233,356 shares in the last quarter. LSV Asset Management boosted its position in shares of Incyte by 4.9% in the first quarter. LSV Asset Management now owns 3,637,974 shares of the biopharmaceutical company's stock worth $220,279,000 after purchasing an additional 170,484 shares during the period. Invesco Ltd. increased its stake in shares of Incyte by 4.0% in the first quarter. Invesco Ltd. now owns 3,168,750 shares of the biopharmaceutical company's stock worth $191,868,000 after purchasing an additional 120,543 shares in the last quarter. Finally, Acadian Asset Management LLC raised its position in shares of Incyte by 65.6% during the 1st quarter. Acadian Asset Management LLC now owns 2,511,872 shares of the biopharmaceutical company's stock valued at $152,062,000 after purchasing an additional 994,609 shares during the period. Institutional investors own 96.97% of the company's stock.

Insider Buying and Selling at Incyte

In other news, EVP Barry P. Flannelly sold 1,192 shares of the firm's stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $69.86, for a total value of $83,273.12. Following the completion of the sale, the executive vice president owned 37,630 shares in the company, valued at approximately $2,628,831.80. This trade represents a 3.07% 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 Steven H. Stein sold 14,952 shares of Incyte stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $68.47, for a total transaction of $1,023,763.44. Following the transaction, the executive vice president directly owned 97,466 shares of the company's stock, valued at approximately $6,673,497.02. This represents a 13.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 36,257 shares of company stock worth $2,487,927 over the last quarter. Insiders own 17.80% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on INCY. Guggenheim reiterated a "neutral" rating on shares of Incyte in a research note on Friday, September 19th. Wall Street Zen raised Incyte from a "buy" rating to a "strong-buy" rating in a research note on Friday, October 3rd. Barclays initiated coverage on Incyte in a research note on Friday, August 1st. They set an "overweight" rating and a $90.00 target price on the stock. Weiss Ratings restated a "hold (c+)" rating on shares of Incyte in a research note on Wednesday. Finally, Royal Bank Of Canada raised their target price on shares of Incyte from $72.00 to $81.00 and gave the company a "sector perform" rating in a research note on Wednesday, September 24th. Five equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $84.79.

Incyte Price Performance

Shares of Incyte stock opened at $83.80 on Friday. The stock has a market cap of $16.36 billion, a price-to-earnings ratio of 19.05, a price-to-earnings-growth ratio of 0.65 and a beta of 0.73. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.78 and a current ratio of 2.85. The stock has a 50 day moving average price of $84.32 and a 200-day moving average price of $71.64. Incyte Corporation has a one year low of $53.56 and a one year high of $88.66.

Incyte 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.

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