4,980 Shares in Incyte Corporation $INCY Bought by Kera Capital Partners Inc.

Kera Capital Partners Inc. bought a new position in Incyte Corporation (NASDAQ:INCY) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 4,980 shares of the biopharmaceutical company’s stock, valued at approximately $339,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Banque Transatlantique SA purchased a new position in Incyte in the first quarter worth $26,000. Raiffeisen Bank International AG purchased a new position in Incyte in the fourth quarter worth $34,000. SVB Wealth LLC purchased a new position in Incyte in the first quarter worth $39,000. Geneos Wealth Management Inc. grew its position in Incyte by 350.0% in the first quarter. Geneos Wealth Management Inc. now owns 756 shares of the biopharmaceutical company’s stock worth $46,000 after acquiring an additional 588 shares in the last quarter. Finally, WPG Advisers LLC purchased a new position in Incyte in the first quarter worth $47,000. 96.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Sheila A. Denton sold 599 shares of the business’s stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $68.61, for a total transaction of $41,097.39. Following the transaction, the executive vice president owned 26,504 shares in the company, valued at $1,818,439.44. The trade was a 2.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Vijay K. Iyengar sold 8,617 shares of the business’s stock in a transaction dated 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 in the company, valued at $2,569,323.15. This represents a 18.60% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 56,098 shares of company stock valued at $3,836,196. 17.80% of the stock is currently owned by insiders.

Incyte Stock Performance

Shares of NASDAQ:INCY opened at $83.10 on Friday. The company has a market cap of $16.23 billion, a price-to-earnings ratio of 18.89, a price-to-earnings-growth ratio of 0.68 and a beta of 0.75. The company has a 50-day moving average price of $78.54 and a 200-day moving average price of $69.09. The company has a current ratio of 2.85, a quick ratio of 2.78 and a debt-to-equity ratio of 0.01. Incyte Corporation has a 12 month low of $53.56 and a 12 month high of $87.99.

Wall Street Analysts Forecast Growth

INCY has been the subject of several recent research reports. UBS Group reissued a “neutral” rating and issued a $68.00 price target (up from $62.00) on shares of Incyte in a research note on Wednesday, July 30th. JPMorgan Chase & Co. upped 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. Wells Fargo & Company upgraded shares of Incyte from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $67.00 to $89.00 in a research report on Wednesday, August 6th. Wall Street Zen lowered shares of Incyte from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Finally, BMO Capital Markets restated an “underperform” rating and set a $60.00 price target (up from $52.00) on shares of Incyte in a research report on Wednesday, July 30th. Seven investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $82.53.

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.