GSA Capital Partners LLP Buys 5,233 Shares of Incyte Corporation (NASDAQ:INCY)

Key Points

• GSA Capital Partners LLP increased its stake in Incyte Corporation by 87.4%, now owning 11,223 shares valued at approximately $680,000.
• Several institutional investors, including Wellington Management Group and LPL Financial LLC, have also significantly boosted their holdings in Incyte during the last quarter.
• Analysts have mixed views on Incyte, with Barclays giving it an "overweight" rating and a price target of $90, while others set lower targets and maintain "hold" ratings.

GSA Capital Partners LLP increased its holdings in Incyte Corporation (NASDAQ:INCY - Free Report) by 87.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,223 shares of the biopharmaceutical company's stock after purchasing an additional 5,233 shares during the period. GSA Capital Partners LLP's holdings in Incyte were worth $680,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in INCY. Raiffeisen Bank International AG purchased a new stake in shares of Incyte during the 4th quarter worth approximately $34,000. NBC Securities Inc. raised its holdings in Incyte by 88,200.0% during the 1st quarter. NBC Securities Inc. now owns 883 shares of the biopharmaceutical company's stock valued at $53,000 after buying an additional 882 shares during the period. Huntington National Bank increased its stake in Incyte by 40.7% in the fourth quarter. Huntington National Bank now owns 934 shares of the biopharmaceutical company's stock worth $65,000 after purchasing an additional 270 shares during the period. Intact Investment Management Inc. purchased a new stake in Incyte in the first quarter worth $73,000. Finally, Farther Finance Advisors LLC increased its stake in Incyte by 474.1% in the first quarter. Farther Finance Advisors LLC now owns 1,550 shares of the biopharmaceutical company's stock worth $94,000 after purchasing an additional 1,280 shares during the period. 96.97% of the stock is owned by hedge funds and other institutional investors.

Incyte Stock Performance

INCY traded down $0.32 during trading hours on Tuesday, hitting $77.72. The company's stock had a trading volume of 1,733,485 shares, compared to its average volume of 1,673,686. Incyte Corporation has a fifty-two week low of $53.56 and a fifty-two week high of $83.95. The company has a current ratio of 2.85, a quick ratio of 2.78 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $15.18 billion, a PE ratio of 17.66, a PEG ratio of 0.62 and a beta of 0.71. The company has a 50-day simple moving average of $69.23 and a 200 day simple moving average of $66.67.

Insider Buying and Selling

In related news, EVP Barry P. Flannelly sold 10,903 shares of Incyte stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $68.15, for a total transaction of $743,039.45. Following the completion of the sale, the executive vice president 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Sheila A. Denton sold 599 shares of the business's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $68.61, for a total value of $41,097.39. Following the transaction, the executive vice president directly owned 26,504 shares of the company's stock, valued at $1,818,439.44. This represents a 2.21% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 56,098 shares of company stock valued at $3,836,196. Insiders own 17.80% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on INCY shares. JPMorgan Chase & Co. lowered their price target on Incyte from $68.00 to $67.00 and set a "neutral" rating for the company in a report on Monday, July 14th. Stifel Nicolaus raised Incyte from a "hold" rating to a "buy" rating and raised their price target for the stock from $75.00 to $107.00 in a report on Monday, June 16th. Wall Street Zen raised Incyte from a "buy" rating to a "strong-buy" rating in a report on Wednesday, April 30th. Barclays began coverage on Incyte in a report on Friday. They issued an "overweight" rating and a $90.00 price target for the company. Finally, Citigroup raised their price objective on Incyte from $88.00 to $103.00 and gave the stock a "buy" rating in a research note on Wednesday, July 30th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $79.73.

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.