Impact Investors Inc Sells 5,283 Shares of Incyte Corporation $INCY

Impact Investors Inc cut its position in Incyte Corporation (NASDAQ:INCY) by 63.3% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 3,068 shares of the biopharmaceutical company’s stock after selling 5,283 shares during the period. Impact Investors Inc’s holdings in Incyte were worth $209,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Incyte by 2.1% in the first quarter. Vanguard Group Inc. now owns 19,997,823 shares of the biopharmaceutical company’s stock valued at $1,210,868,000 after buying an additional 417,346 shares during the period. AQR Capital Management LLC raised its stake in shares of Incyte by 92.3% in the first 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 period. LSV Asset Management raised its stake in shares of Incyte by 4.9% in the first quarter. LSV Asset Management now owns 3,637,974 shares of the biopharmaceutical company’s stock valued at $220,279,000 after buying an additional 170,484 shares during the period. Invesco Ltd. raised its stake in shares of Incyte by 4.0% in the first quarter. Invesco Ltd. now owns 3,168,750 shares of the biopharmaceutical company’s stock valued at $191,868,000 after buying an additional 120,543 shares during the period. Finally, Acadian Asset Management LLC raised its stake in shares of Incyte by 65.6% in the first quarter. Acadian Asset Management LLC now owns 2,511,872 shares of the biopharmaceutical company’s stock valued at $152,062,000 after buying an additional 994,609 shares during the period. 96.97% of the stock is currently owned by institutional investors.

Insider Transactions at Incyte

In other news, EVP Vijay K. Iyengar sold 1,177 shares of the company’s stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $69.86, for a total value of $82,225.22. Following the completion of the transaction, the executive vice president directly owned 35,929 shares in the company, valued at approximately $2,509,999.94. This represents a 3.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Steven H. Stein sold 14,952 shares of the company’s stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $68.47, for a total value of $1,023,763.44. Following the completion of the transaction, the executive vice president owned 97,466 shares of the company’s stock, valued at $6,673,497.02. The trade was a 13.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 36,257 shares of company stock worth $2,487,927. 17.80% of the stock is currently owned by corporate insiders.

Incyte Price Performance

Incyte stock opened at $86.85 on Friday. Incyte Corporation has a 52 week low of $53.56 and a 52 week high of $88.66. The business has a 50-day simple moving average of $83.27 and a 200 day simple moving average of $70.74. 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 market cap of $16.96 billion, a price-to-earnings ratio of 19.74, a PEG ratio of 0.67 and a beta of 0.73.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on INCY shares. UBS Group reiterated a “neutral” rating and issued a $68.00 price target (up from $62.00) on shares of Incyte in a research report on Wednesday, July 30th. Wells Fargo & Company upgraded Incyte from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $67.00 to $89.00 in a research report on Wednesday, August 6th. JPMorgan Chase & Co. lifted their price target on Incyte from $67.00 to $73.00 and gave the company a “neutral” rating in a research report on Friday, August 22nd. Guggenheim reiterated a “neutral” rating on shares of Incyte in a research report on Friday, September 19th. Finally, Citigroup lifted their price target on Incyte from $88.00 to $103.00 and gave the company a “buy” rating in a research report on Wednesday, July 30th. Six research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $83.64.

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.