Invst LLC bought a new stake in shares of Incyte Corporation (NASDAQ:INCY - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 5,206 shares of the biopharmaceutical company's stock, valued at approximately $315,000.
A number of other large investors also recently bought and sold shares of the business. Nissay Asset Management Corp Japan ADV lifted its position in Incyte by 0.7% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 20,371 shares of the biopharmaceutical company's stock valued at $1,410,000 after acquiring an additional 150 shares during the period. Advisory Alpha LLC lifted its position in Incyte by 2.1% during the 1st quarter. Advisory Alpha LLC now owns 8,056 shares of the biopharmaceutical company's stock valued at $488,000 after acquiring an additional 166 shares during the period. Blackhawk Capital Partners LLC. lifted its position in Incyte by 4.4% during the 1st quarter. Blackhawk Capital Partners LLC. now owns 4,135 shares of the biopharmaceutical company's stock valued at $250,000 after acquiring an additional 175 shares during the period. Fifth Third Bancorp lifted its position in Incyte by 2.0% during the 1st quarter. Fifth Third Bancorp now owns 9,103 shares of the biopharmaceutical company's stock valued at $551,000 after acquiring an additional 179 shares during the period. Finally, State of Michigan Retirement System lifted its position in Incyte by 0.5% during the 1st quarter. State of Michigan Retirement System now owns 43,559 shares of the biopharmaceutical company's stock valued at $2,637,000 after acquiring an additional 200 shares during the period. 96.97% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
INCY has been the subject of a number of recent research reports. JPMorgan Chase & Co. lifted their price target on shares of Incyte from $67.00 to $73.00 and gave the company a "neutral" rating in a research report on Friday, August 22nd. Truist Financial lifted their target price on shares of Incyte from $73.00 to $79.00 and gave the stock a "hold" rating in a report on Wednesday, July 30th. BMO Capital Markets reaffirmed an "underperform" rating and issued a $60.00 target price (up from $52.00) on shares of Incyte in a report on Wednesday, July 30th. Stifel Nicolaus raised shares of Incyte from a "hold" rating to a "buy" rating and lifted their target price for the stock from $75.00 to $107.00 in a report on Monday, June 16th. Finally, Royal Bank Of Canada lifted their target price on shares of Incyte from $68.00 to $72.00 and gave the stock a "sector perform" rating in a report on Wednesday, July 30th. Seven equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $82.53.
Get Our Latest Stock Analysis on INCY
Insider Activity at Incyte
In related news, EVP Vijay K. Iyengar sold 8,617 shares of the business's stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $68.15, for a total transaction of $587,248.55. Following the completion of the sale, the executive vice president directly owned 37,701 shares in the company, valued at approximately $2,569,323.15. The trade was a 18.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Barry P. Flannelly sold 10,903 shares of the business's stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $68.15, for a total transaction of $743,039.45. Following the sale, the executive vice president owned 39,744 shares of the company's stock, valued at $2,708,553.60. This trade represents a 21.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 56,098 shares of company stock valued at $3,836,196 over the last ninety days. Company insiders own 17.80% of the company's stock.
Incyte Stock Performance
Shares of INCY traded up $0.02 during mid-day trading on Thursday, hitting $84.82. 303,573 shares of the company traded hands, compared to its average volume of 1,849,280. 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 moving average price of $79.51 and a two-hundred day moving average price of $69.33. Incyte Corporation has a 1 year low of $53.56 and a 1 year high of $87.99. The stock has a market cap of $16.56 billion, a price-to-earnings ratio of 19.28, a P/E/G ratio of 0.66 and a beta of 0.75.
About Incyte
(
Free Report)
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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