Kera Capital Partners Inc. Invests $339,000 in Incyte Corporation $INCY

Key Points

• Kera Capital Partners Inc. invested $339,000 in Incyte Corporation by acquiring 4,980 shares during the second quarter.
• A significant percentage of Incyte's stock, 96.97%, is owned by hedge funds and institutional investors, with several making notable increases in their stakes.
• Incyte's current stock price is $83.10, with analysts rating it as a Hold and a consensus target price of $82.53.

Kera Capital Partners Inc. bought a new position in Incyte Corporation (NASDAQ:INCY - Free Report) during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 4,980 shares of the biopharmaceutical company's stock, valued at approximately $339,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of INCY. AQR Capital Management LLC boosted its stake in shares of Incyte by 92.3% in the 1st quarter. AQR Capital Management LLC now owns 6,736,169 shares of the biopharmaceutical company's stock worth $405,787,000 after buying an additional 3,233,356 shares during the last quarter. Acadian Asset Management LLC raised its holdings in shares of Incyte by 65.6% in the 1st quarter. Acadian Asset Management LLC now owns 2,511,872 shares of the biopharmaceutical company's stock worth $152,062,000 after purchasing an additional 994,609 shares during the period. Victory Capital Management Inc. raised its holdings in shares of Incyte by 581.3% in the 1st quarter. Victory Capital Management Inc. now owns 813,140 shares of the biopharmaceutical company's stock worth $49,236,000 after purchasing an additional 693,782 shares during the period. Jupiter Asset Management Ltd. raised its holdings in shares of Incyte by 469.9% in the 1st quarter. Jupiter Asset Management Ltd. now owns 829,764 shares of the biopharmaceutical company's stock worth $50,242,000 after purchasing an additional 684,171 shares during the period. Finally, Jacobs Levy Equity Management Inc. raised its holdings in shares of Incyte by 56.8% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,398,143 shares of the biopharmaceutical company's stock worth $84,658,000 after purchasing an additional 506,484 shares during the period. Hedge funds and other institutional investors own 96.97% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on INCY shares. Barclays started coverage on shares of Incyte in a report on Friday, August 1st. They issued an "overweight" rating and a $90.00 price target on the stock. Truist Financial lifted their price target on shares of Incyte from $73.00 to $79.00 and gave the stock a "hold" rating in a report on Wednesday, July 30th. Wall Street Zen cut shares of Incyte from a "strong-buy" rating to a "buy" rating in a report on Saturday. Bank of America lifted their price target on shares of Incyte from $90.00 to $104.00 and gave the stock a "buy" rating in a report on Thursday, September 4th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Incyte from $67.00 to $73.00 and gave the company a "neutral" rating in a research note on Friday, August 22nd. Seven equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $82.53.

Incyte Stock Down 3.6%

Incyte stock opened at $83.10 on Friday. Incyte Corporation has a 1-year low of $53.56 and a 1-year high of $87.99. The firm has a market capitalization of $16.23 billion, a price-to-earnings ratio of 18.89, a P/E/G ratio of 0.68 and a beta of 0.75. 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 50 day simple moving average of $78.54 and a 200 day simple moving average of $69.09.

Insider Activity

In other news, EVP Sheila A. Denton sold 599 shares of the business's stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $68.61, for a total transaction of $41,097.39. Following the completion of the transaction, the executive vice president directly owned 26,504 shares in the company, valued at $1,818,439.44. The trade was a 2.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Vijay K. Iyengar sold 8,617 shares of the business's stock in a transaction 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 transaction, the executive vice president owned 37,701 shares of the company's stock, valued at $2,569,323.15. This trade represents a 18.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 56,098 shares of company stock valued at $3,836,196 over the last 90 days. Company insiders own 17.80% of the company's stock.

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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