14,665 Shares in Incyte Corporation $INCY Acquired by Strid Group LLC

Strid Group LLC acquired a new position in Incyte Corporation (NASDAQ:INCY) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 14,665 shares of the biopharmaceutical company’s stock, valued at approximately $999,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in INCY. AQR Capital Management LLC grew its stake in Incyte by 92.3% in the 1st quarter. AQR Capital Management LLC now owns 6,736,169 shares of the biopharmaceutical company’s stock valued at $405,787,000 after buying an additional 3,233,356 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its position in shares of Incyte by 71.5% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 2,386,311 shares of the biopharmaceutical company’s stock valued at $162,508,000 after acquiring an additional 995,204 shares in the last quarter. Acadian Asset Management LLC boosted its position in shares of Incyte by 65.6% during the 1st quarter. Acadian Asset Management LLC now owns 2,511,872 shares of the biopharmaceutical company’s stock valued at $152,062,000 after acquiring an additional 994,609 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Incyte by 581.3% during the 1st quarter. Victory Capital Management Inc. now owns 813,140 shares of the biopharmaceutical company’s stock valued at $49,236,000 after acquiring an additional 693,782 shares in the last quarter. Finally, Jupiter Asset Management Ltd. boosted its position in shares of Incyte by 469.9% during the 1st quarter. Jupiter Asset Management Ltd. now owns 829,764 shares of the biopharmaceutical company’s stock valued at $50,242,000 after acquiring an additional 684,171 shares in the last quarter. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Incyte Stock Up 0.7%

Incyte stock opened at $86.85 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.78 and a current ratio of 2.85. Incyte Corporation has a 52-week low of $53.56 and a 52-week high of $88.66. The firm has a 50 day moving average price of $83.27 and a two-hundred day moving average price of $70.81. The firm has a market cap of $16.96 billion, a price-to-earnings ratio of 19.74, a PEG ratio of 0.68 and a beta of 0.73.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Wells Fargo & Company upgraded shares of Incyte from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $67.00 to $89.00 in a research report on Wednesday, August 6th. Guggenheim reaffirmed a “neutral” rating on shares of Incyte in a research note on Friday, September 19th. Truist Financial boosted 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. UBS Group reissued a “neutral” rating and set a $68.00 price target (up from $62.00) on shares of Incyte in a research note on Wednesday, July 30th. Finally, Wall Street Zen raised shares of Incyte from a “buy” rating to a “strong-buy” rating in a research note on Friday. Six research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $83.64.

Insider Activity

In related news, EVP Vijay K. Iyengar sold 1,177 shares of Incyte stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $69.86, for a total value 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. This trade represents a 3.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Barry P. Flannelly sold 1,192 shares of Incyte stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $69.86, for a total transaction 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. The trade was a 3.07% decrease in their position. The disclosure for this sale can be found here. Insiders sold 36,257 shares of company stock worth $2,487,927 in the last quarter. 17.80% of the stock is 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.