Incyte Corporation $INCY Shares Acquired by Krilogy Financial LLC

Key Points

• Krilogy Financial LLC increased its stake in Incyte Corporation by 61.2%, acquiring an additional 6,792 shares in the second quarter, bringing their total holdings to 17,883 shares worth approximately $1.2 million.
• Incyte has seen significant analyst activity, with seven analysts giving it a Buy rating and a consensus target price of $82.53, reflecting bullish sentiment amidst fluctuating price targets.
• Insider trading activity shows executives sold a total of 56,098 shares in the last quarter, indicating a potential shift in insider confidence though insiders still hold 17.80% of the shares.

Krilogy Financial LLC grew its holdings in Incyte Corporation (NASDAQ:INCY - Free Report) by 61.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,883 shares of the biopharmaceutical company's stock after acquiring an additional 6,792 shares during the period. Krilogy Financial LLC's holdings in Incyte were worth $1,218,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Czech National Bank boosted its holdings in shares of Incyte by 6.4% in the second quarter. Czech National Bank now owns 39,271 shares of the biopharmaceutical company's stock valued at $2,674,000 after purchasing an additional 2,378 shares during the period. MassMutual Private Wealth & Trust FSB increased its position in shares of Incyte by 26.0% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,448 shares of the biopharmaceutical company's stock valued at $99,000 after acquiring an additional 299 shares during the period. Parallel Advisors LLC grew its position in Incyte by 8.9% during the 2nd quarter. Parallel Advisors LLC now owns 4,832 shares of the biopharmaceutical company's stock worth $329,000 after purchasing an additional 393 shares during the period. OMNI 360 Wealth Inc. purchased a new stake in shares of Incyte during the 2nd quarter worth about $310,000. Finally, Kera Capital Partners Inc. purchased a new position in Incyte in the 2nd quarter valued at about $339,000. 96.97% of the stock is owned by institutional investors.

Insider Activity at Incyte

In other news, EVP Barry P. Flannelly sold 1,192 shares of the company's stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $69.86, for a total value of $83,273.12. Following the completion of the sale, the executive vice president directly owned 37,630 shares of the company's stock, valued at approximately $2,628,831.80. This represents a 3.07% 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. Also, 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 transaction 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 $6,990,074.84. The trade was a 3.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 56,376 shares of company stock valued at $3,859,312 in the last ninety days. 17.80% of the stock is currently owned by insiders.

Incyte Stock Performance

INCY traded up $0.53 on Friday, reaching $86.53. The company had a trading volume of 5,483,759 shares, compared to its average volume of 1,593,872. Incyte Corporation has a 1 year low of $53.56 and a 1 year high of $87.99. The stock has a market capitalization of $16.90 billion, a PE ratio of 19.67, a P/E/G ratio of 0.68 and a beta of 0.75. The company has a quick ratio of 2.78, a current ratio of 2.85 and a debt-to-equity ratio of 0.01. The stock has a 50-day moving average price of $80.18 and a 200-day moving average price of $69.56.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on INCY shares. Citigroup raised their price target on shares of Incyte from $88.00 to $103.00 and gave the company a "buy" rating in a research note on Wednesday, July 30th. JPMorgan Chase & Co. raised their target price on shares of Incyte from $67.00 to $73.00 and gave the stock a "neutral" rating in a research note on Friday, August 22nd. Truist Financial raised their target price on shares of Incyte from $73.00 to $79.00 and gave the stock a "hold" rating in a research note on Wednesday, July 30th. Barclays assumed coverage on shares of Incyte in a research note on Friday, August 1st. They issued an "overweight" rating and a $90.00 target price on the stock. Finally, Wall Street Zen lowered shares of Incyte from a "strong-buy" rating to a "buy" rating in a research note on Saturday, September 13th. 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, Incyte has an average rating of "Hold" and a consensus target price of $82.53.

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.