Incyte Corporation $INCY Shares Acquired by Cwm LLC

Key Points

• Cwm LLC increased its stake in Incyte Corporation by 22.1% during Q2, owning 131,180 shares valued at approximately $8.93 million.
• Insider activity includes EVP Steven H. Stein selling 3,706 shares for about $251,786, reducing his ownership by 3.48%.
• Incyte's stock opened at $85.96, with analysts providing a mix of ratings, including a consensus target price of $84.79.

Cwm LLC lifted its position in shares of Incyte Corporation (NASDAQ:INCY - Free Report) by 22.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 131,180 shares of the biopharmaceutical company's stock after purchasing an additional 23,751 shares during the period. Cwm LLC owned about 0.07% of Incyte worth $8,933,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Assenagon Asset Management S.A. lifted its position in shares of Incyte by 1.7% during the 2nd quarter. Assenagon Asset Management S.A. now owns 8,993 shares of the biopharmaceutical company's stock worth $612,000 after purchasing an additional 147 shares during the last quarter. Farther Finance Advisors LLC lifted its position in shares of Incyte by 10.1% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,706 shares of the biopharmaceutical company's stock worth $116,000 after purchasing an additional 156 shares during the last quarter. Advisory Alpha LLC lifted its position in shares of Incyte by 2.1% during the 1st quarter. Advisory Alpha LLC now owns 8,056 shares of the biopharmaceutical company's stock worth $488,000 after purchasing an additional 166 shares during the last quarter. Blackhawk Capital Partners LLC. lifted its position in shares of Incyte by 4.4% during the 1st quarter. Blackhawk Capital Partners LLC. now owns 4,135 shares of the biopharmaceutical company's stock worth $250,000 after purchasing an additional 175 shares during the last quarter. Finally, Fifth Third Bancorp lifted its position in shares of Incyte by 2.0% during the 1st quarter. Fifth Third Bancorp now owns 9,103 shares of the biopharmaceutical company's stock worth $551,000 after purchasing an additional 179 shares during the last quarter. 96.97% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Incyte

In other news, EVP Steven H. Stein sold 3,706 shares of the company's stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $67.94, for a total value of $251,785.64. Following the completion of the sale, the executive vice president directly owned 102,886 shares of the company's stock, valued at approximately $6,990,074.84. This represents a 3.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 17.80% of the company's stock.

Incyte Price Performance

Shares of NASDAQ:INCY opened at $85.96 on Wednesday. The company has a 50-day simple moving average of $84.62 and a 200-day simple moving average of $71.99. Incyte Corporation has a one year low of $53.56 and a one year high of $88.66. 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 market capitalization of $16.79 billion, a price-to-earnings ratio of 19.54, a PEG ratio of 0.66 and a beta of 0.73.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on INCY shares. BMO Capital Markets reaffirmed an "underperform" rating and set a $60.00 price objective (up from $52.00) on shares of Incyte in a research report on Wednesday, July 30th. Wall Street Zen raised shares of Incyte from a "buy" rating to a "strong-buy" rating in a research report on Friday, October 3rd. Royal Bank Of Canada boosted their price target on shares of Incyte from $72.00 to $81.00 and gave the company a "sector perform" rating in a research report on Wednesday, September 24th. Weiss Ratings reissued a "hold (c+)" rating on shares of Incyte in a research report on Wednesday, October 8th. Finally, Citigroup boosted their price target on shares of Incyte from $88.00 to $103.00 and gave the company a "buy" rating in a research report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $84.79.

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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