Savant Capital LLC Raises Position in Incyte Corporation $INCY

Savant Capital LLC raised its position in shares of Incyte Corporation (NASDAQ:INCY) by 17.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 91,842 shares of the biopharmaceutical company’s stock after buying an additional 13,420 shares during the quarter. Savant Capital LLC’s holdings in Incyte were worth $7,789,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in INCY. Harbor Capital Advisors Inc. purchased a new position in Incyte in the third quarter worth about $26,000. FNY Investment Advisers LLC purchased a new stake in Incyte during the second quarter valued at $27,000. Root Financial Partners LLC bought a new position in shares of Incyte in the 3rd quarter worth approximately $28,000. Quent Capital LLC bought a new position in Incyte in the third quarter worth approximately $30,000. Finally, MUFG Securities EMEA plc purchased a new position in Incyte during the second quarter valued at $32,000. 96.97% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, EVP Michael James Morrissey sold 54,008 shares of Incyte stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $97.29, for a total value of $5,254,438.32. Following the sale, the executive vice president owned 31,830 shares in the company, valued at $3,096,740.70. This trade represents a 62.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Mohamed Khairie Issa sold 10,856 shares of the business’s stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $109.07, for a total value of $1,184,063.92. Following the sale, the executive vice president owned 66,132 shares of the company’s stock, valued at $7,213,017.24. The trade was a 14.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 95,225 shares of company stock worth $9,519,745. Corporate insiders own 17.80% of the company’s stock.

Incyte Stock Performance

Shares of INCY opened at $102.76 on Friday. Incyte Corporation has a one year low of $53.56 and a one year high of $112.29. The stock has a market cap of $20.17 billion, a P/E ratio of 17.21, a P/E/G ratio of 0.62 and a beta of 0.82. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.13 and a current ratio of 3.20. The stock has a 50-day moving average of $101.61 and a two-hundred day moving average of $92.68.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Mizuho set a $121.00 price target on Incyte and gave the stock an “outperform” rating in a research note on Monday, December 8th. Guggenheim upgraded Incyte from a “neutral” rating to a “buy” rating and set a $125.00 target price for the company in a report on Monday, November 3rd. TD Cowen reissued a “buy” rating on shares of Incyte in a research note on Tuesday, January 13th. The Goldman Sachs Group restated a “neutral” rating and issued a $90.00 price target on shares of Incyte in a report on Thursday, January 8th. Finally, Zacks Research downgraded Incyte from a “strong-buy” rating to a “hold” rating in a report on Monday, November 10th. Nine equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Incyte currently has an average rating of “Hold” and an average price target of $103.29.

Incyte Company Profile

Incyte Corporation is a Wilmington, Delaware–based biopharmaceutical company focused on the discovery, development and commercialization of novel therapies in oncology and inflammation. Since its founding in 2002, Incyte has grown from a small research organization into a global enterprise, advancing a portfolio of internally developed and partnered assets. The company’s research and development efforts center on small-molecule drugs and biologics that modulate critical signaling pathways implicated in cancer, autoimmune disorders and rare diseases.

The company’s flagship product is Jakafi® (ruxolitinib), a Janus kinase (JAK) inhibitor approved for the treatment of myelofibrosis and polycythemia vera.