Compagnie Lombard Odier SCmA Has $1.51 Million Stock Holdings in Incyte Corporation $INCY

Key Points

• Compagnie Lombard Odier SCmA increased its stake in Incyte Corporation by 15.8%, owning 22,150 shares valued at approximately $1.51 million as of the latest SEC filing.
• Insider trading activity included EVP Vijay K. Iyengar and EVP Barry P. Flannelly selling 8,617 and 10,903 shares respectively, signaling a decrease in their holdings of the company.
• Research analysts have boosted their price targets for Incyte, with recommendations ranging from "Hold" to "Overweight," signaling potential growth for the stock.

Compagnie Lombard Odier SCmA grew its position in Incyte Corporation (NASDAQ:INCY - Free Report) by 15.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 22,150 shares of the biopharmaceutical company's stock after purchasing an additional 3,030 shares during the period. Compagnie Lombard Odier SCmA's holdings in Incyte were worth $1,508,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Banque Transatlantique SA acquired a new stake in shares of Incyte in the 1st quarter valued at $26,000. SVB Wealth LLC acquired a new stake in shares of Incyte in the 1st quarter valued at $39,000. Geneos Wealth Management Inc. boosted its stake in shares of Incyte by 350.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 756 shares of the biopharmaceutical company's stock valued at $46,000 after purchasing an additional 588 shares in the last quarter. WPG Advisers LLC bought a new position in shares of Incyte in the first quarter valued at about $47,000. Finally, Caitong International Asset Management Co. Ltd raised its holdings in shares of Incyte by 161.2% in the first quarter. Caitong International Asset Management Co. Ltd now owns 854 shares of the biopharmaceutical company's stock valued at $52,000 after buying an additional 527 shares during the last quarter. Institutional investors and hedge funds own 96.97% of the company's stock.

Insiders Place Their Bets

In other Incyte news, EVP Vijay K. Iyengar sold 8,617 shares of the company's stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $68.15, for a total transaction of $587,248.55. Following the completion of the transaction, the executive vice president owned 37,701 shares of the company's stock, valued at $2,569,323.15. This represents a 18.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Barry P. Flannelly sold 10,903 shares of the company's stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $68.15, for a total value of $743,039.45. Following the transaction, the executive vice president directly owned 39,744 shares of the company's stock, valued at approximately $2,708,553.60. This trade represents a 21.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 56,376 shares of company stock valued at $3,859,312 over the last 90 days. 17.80% of the stock is owned by company insiders.

Incyte Price Performance

Shares of INCY opened at $84.73 on Tuesday. 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 simple moving average of $80.47 and a 200 day simple moving average of $69.65. Incyte Corporation has a 52-week low of $53.56 and a 52-week high of $87.99. The firm has a market capitalization of $16.55 billion, a PE ratio of 19.26, a P/E/G ratio of 0.68 and a beta of 0.75.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. JPMorgan Chase & Co. lifted their price target on Incyte from $67.00 to $73.00 and gave the company a "neutral" rating in a report on Friday, August 22nd. Royal Bank Of Canada lifted their price target on Incyte from $68.00 to $72.00 and gave the company a "sector perform" rating in a report on Wednesday, July 30th. Wells Fargo & Company raised Incyte from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $67.00 to $89.00 in a report on Wednesday, August 6th. UBS Group reaffirmed a "neutral" rating and issued a $68.00 price target (up from $62.00) on shares of Incyte in a report on Wednesday, July 30th. Finally, Barclays assumed coverage on Incyte in a report on Friday, August 1st. They issued an "overweight" rating and a $90.00 price target for the company. Seven research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $83.07.

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.

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