Incyte Corporation (NASDAQ:INCY) Shares Purchased by Koss Olinger Consulting LLC

Key Points

• Koss Olinger Consulting LLC has increased its position in Incyte Corporation by 79.0%, now holding a total of 43,463 shares valued at approximately $2.63 million.
• Institutional investors own 96.97% of Incyte's stock, reflecting significant interest from hedge funds and investment firms in the company.
• Analyst ratings for Incyte are mixed, with one sell, ten hold, seven buy, and one strong buy, and a consensus price target of $81.20.

Koss Olinger Consulting LLC grew its position in shares of Incyte Corporation (NASDAQ:INCY - Free Report) by 79.0% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,463 shares of the biopharmaceutical company's stock after purchasing an additional 19,180 shares during the period. Koss Olinger Consulting LLC's holdings in Incyte were worth $2,632,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Raiffeisen Bank International AG purchased a new stake in shares of Incyte during the fourth quarter worth $34,000. NBC Securities Inc. increased its position in shares of Incyte by 88,200.0% during the first quarter. NBC Securities Inc. now owns 883 shares of the biopharmaceutical company's stock worth $53,000 after acquiring an additional 882 shares during the period. Intact Investment Management Inc. purchased a new stake in shares of Incyte during the first quarter worth $73,000. Farther Finance Advisors LLC increased its position in shares of Incyte by 474.1% during the first quarter. Farther Finance Advisors LLC now owns 1,550 shares of the biopharmaceutical company's stock worth $94,000 after acquiring an additional 1,280 shares during the period. Finally, Colonial Trust Co SC increased its holdings in Incyte by 41.7% in the fourth quarter. Colonial Trust Co SC now owns 1,481 shares of the biopharmaceutical company's stock valued at $102,000 after buying an additional 436 shares during the last quarter. 96.97% of the stock is currently owned by institutional investors and hedge funds.

Incyte Stock Performance

Shares of INCY traded up $3.77 during mid-day trading on Wednesday, hitting $85.38. 1,702,335 shares of the company's stock were exchanged, compared to its average volume of 1,875,014. Incyte Corporation has a fifty-two week low of $53.56 and a fifty-two week high of $85.30. The firm has a market capitalization of $16.67 billion, a P/E ratio of 19.36, a P/E/G ratio of 0.63 and a beta of 0.71. The business's 50 day moving average is $70.80 and its two-hundred day moving average is $66.97. The company has a current ratio of 2.85, a quick ratio of 2.78 and a debt-to-equity ratio of 0.01.

Analysts Set New Price Targets

Several equities analysts recently commented on INCY shares. Citigroup increased their target price on Incyte from $88.00 to $103.00 and gave the company a "buy" rating in a report on Wednesday, July 30th. Wells Fargo & Company raised Incyte from an "equal weight" rating to an "overweight" rating and increased their target price for the company from $67.00 to $89.00 in a report on Wednesday, August 6th. Wall Street Zen raised Incyte from a "buy" rating to a "strong-buy" rating in a report on Wednesday, April 30th. UBS Group reissued a "neutral" rating and issued a $68.00 target price (up previously from $62.00) on shares of Incyte in a report on Wednesday, July 30th. Finally, Royal Bank Of Canada raised their price objective on Incyte from $68.00 to $72.00 and gave the stock a "sector perform" rating in a report on Wednesday, July 30th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Incyte has a consensus rating of "Hold" and a consensus target price of $81.20.

Insider Buying and Selling at Incyte

In related news, EVP Steven H. Stein sold 3,706 shares of the firm'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 owned 102,886 shares in the company, valued at $6,990,074.84. This trade represents a 3.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Vijay K. Iyengar sold 1,177 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 transaction of $82,225.22. Following the completion of the sale, the executive vice president owned 35,929 shares of the company's stock, valued at approximately $2,509,999.94. The trade was a 3.17% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 56,098 shares of company stock worth $3,836,196 over the last three months. 17.80% of the stock is currently owned by corporate insiders.

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.