Insider Selling: Incyte (NASDAQ:INCY) EVP Sells 277 Shares of Stock

Key Points

• Incyte Corporation executive Sheila Denton sold 277 shares of stock on October 15th at an average price of $85.13, resulting in a total transaction value of $23,581.01.
• Following the sale, Sheila Denton retains ownership of 26,569 shares, valued at approximately $2.26 million, representing a 1.03% decrease in her ownership.
• The stock currently trades at $87.57 and has a market capitalization of $17.10 billion, with various institutional investors increasing their stakes in the company.

Incyte Corporation (NASDAQ:INCY - Get Free Report) EVP Sheila Denton sold 277 shares of the business's stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $85.13, for a total transaction of $23,581.01. Following the sale, the executive vice president directly owned 26,569 shares of the company's stock, valued at approximately $2,261,818.97. This trade represents a 1.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Incyte Trading Up 0.3%

INCY stock traded up $0.26 during midday trading on Friday, reaching $87.57. The company's stock had a trading volume of 2,067,708 shares, compared to its average volume of 1,847,783. The business's 50-day simple moving average is $85.01 and its 200-day simple moving average is $72.28. The company has a quick ratio of 2.78, a current ratio of 2.85 and a debt-to-equity ratio of 0.01. Incyte Corporation has a 52 week low of $53.56 and a 52 week high of $92.86. The stock has a market cap of $17.10 billion, a PE ratio of 19.90, a price-to-earnings-growth ratio of 0.69 and a beta of 0.73.

Institutional Trading of Incyte

A number of large investors have recently added to or reduced their stakes in INCY. Perigon Wealth Management LLC acquired a new position in shares of Incyte during the 3rd quarter worth about $455,000. 180 Wealth Advisors LLC boosted its stake in shares of Incyte by 5.4% during the 3rd quarter. 180 Wealth Advisors LLC now owns 5,916 shares of the biopharmaceutical company's stock worth $502,000 after acquiring an additional 303 shares during the period. Burney Co. bought a new position in shares of Incyte in the third quarter valued at about $1,883,000. Blue Trust Inc. lifted its stake in shares of Incyte by 2,332.6% during the 3rd quarter. Blue Trust Inc. now owns 1,046 shares of the biopharmaceutical company's stock worth $89,000 after buying an additional 1,003 shares during the last quarter. Finally, CWM LLC boosted its holdings in shares of Incyte by 49.8% during the 3rd quarter. CWM LLC now owns 196,472 shares of the biopharmaceutical company's stock worth $16,663,000 after buying an additional 65,292 shares during the period. Institutional investors and hedge funds own 96.97% of the company's stock.

Analyst Ratings Changes

INCY has been the subject of a number of analyst reports. Oppenheimer cut Incyte from an "outperform" rating to a "market perform" rating in a research note on Wednesday, October 8th. JPMorgan Chase & Co. boosted their target price on Incyte from $73.00 to $89.00 and gave the stock a "neutral" rating in a research report on Thursday, October 9th. Wells Fargo & Company raised shares of Incyte from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $67.00 to $89.00 in a research note on Wednesday, August 6th. Guggenheim reissued a "neutral" rating on shares of Incyte in a research note on Friday, September 19th. Finally, Zacks Research raised Incyte from a "hold" rating to a "strong-buy" rating in a research note on Friday, October 10th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $84.79.

Incyte Company 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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