Impact Investors Inc Has $209,000 Stock Position in Incyte Corporation $INCY

Key Points

• Impact Investors Inc significantly reduced its stake in Incyte Corporation by 63.3%, now holding 3,068 shares valued at $209,000.
• Multiple analysts have upgraded Incyte's stock ratings recently, with Wells Fargo raising its price target from $67.00 to $89.00 and Citigroup from $88.00 to $103.00.
• As of the latest reports, institutional investors own 96.97% of Incyte's stock, indicating strong institutional support for the company.

Impact Investors Inc lowered its holdings in shares of Incyte Corporation (NASDAQ:INCY - Free Report) by 63.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,068 shares of the biopharmaceutical company's stock after selling 5,283 shares during the period. Impact Investors Inc's holdings in Incyte were worth $209,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in INCY. Banque Transatlantique SA acquired a new stake in Incyte during the first quarter worth approximately $26,000. Hilltop National Bank acquired a new stake in Incyte during the second quarter worth approximately $37,000. SVB Wealth LLC acquired a new stake in Incyte during the first quarter worth approximately $39,000. Geneos Wealth Management Inc. grew its stake in Incyte by 350.0% during the first quarter. Geneos Wealth Management Inc. now owns 756 shares of the biopharmaceutical company's stock worth $46,000 after purchasing an additional 588 shares during the period. Finally, WPG Advisers LLC acquired a new stake in Incyte in the first quarter valued at approximately $47,000. Institutional investors and hedge funds own 96.97% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Weiss Ratings reissued a "hold (c+)" rating on shares of Incyte in a research note on Saturday, September 27th. Wells Fargo & Company raised Incyte from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $67.00 to $89.00 in a research note on Wednesday, August 6th. Truist Financial raised their price objective on Incyte from $73.00 to $79.00 and gave the company a "hold" rating in a research note on Wednesday, July 30th. Citigroup raised their price objective on Incyte from $88.00 to $103.00 and gave the company a "buy" rating in a research note on Wednesday, July 30th. Finally, Wall Street Zen raised Incyte from a "buy" rating to a "strong-buy" rating in a research note on Friday. Six analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $83.64.

Insider Buying and Selling

In related news, EVP Steven H. Stein sold 3,706 shares of Incyte stock in a transaction on Monday, July 21st. The stock was sold at an average price of $67.94, for a total transaction of $251,785.64. Following the sale, the executive vice president directly owned 102,886 shares in the company, valued at approximately $6,990,074.84. This trade represents a 3.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Vijay K. Iyengar sold 1,177 shares of Incyte stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $69.86, for a total value of $82,225.22. Following the sale, the executive vice president owned 35,929 shares in the company, valued at $2,509,999.94. This trade represents a 3.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 36,257 shares of company stock worth $2,487,927. 17.80% of the stock is owned by company insiders.

Incyte Stock Up 0.7%

Shares of NASDAQ:INCY opened at $86.85 on Friday. The stock has a market cap of $16.96 billion, a price-to-earnings ratio of 19.74, a PEG ratio of 0.67 and a beta of 0.73. The company has a quick ratio of 2.78, a current ratio of 2.85 and a debt-to-equity ratio of 0.01. Incyte Corporation has a 12-month low of $53.56 and a 12-month high of $88.66. The business's 50 day moving average is $83.27 and its 200 day moving average is $70.74.

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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