Greenleaf Trust Boosts Holdings in Incyte Co. (NASDAQ:INCY)

Greenleaf Trust increased its position in Incyte Co. (NASDAQ:INCY) by 4.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,066 shares of the biopharmaceutical company’s stock after purchasing an additional 217 shares during the period. Greenleaf Trust’s holdings in Incyte were worth $350,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Point72 Asset Management L.P. purchased a new position in shares of Incyte in the third quarter worth $156,611,000. Mizuho Securities USA LLC raised its position in Incyte by 13,814.7% in the 3rd quarter. Mizuho Securities USA LLC now owns 2,000,100 shares of the biopharmaceutical company’s stock worth $132,207,000 after buying an additional 1,985,726 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Incyte by 29.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,609,220 shares of the biopharmaceutical company’s stock valued at $106,369,000 after acquiring an additional 364,169 shares during the period. Bridgewater Associates LP boosted its holdings in shares of Incyte by 142.8% during the 3rd quarter. Bridgewater Associates LP now owns 308,632 shares of the biopharmaceutical company’s stock valued at $20,401,000 after acquiring an additional 181,504 shares during the last quarter. Finally, Point72 Europe London LLP purchased a new stake in shares of Incyte during the 3rd quarter valued at about $5,975,000. 96.97% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Thomas Tray sold 650 shares of the business’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $70.64, for a total value of $45,916.00. Following the transaction, the insider now owns 23,962 shares of the company’s stock, valued at approximately $1,692,675.68. The trade was a 2.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Vijay K. Iyengar sold 6,043 shares of the firm’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $75.38, for a total transaction of $455,521.34. Following the transaction, the executive vice president now directly owns 30,658 shares of the company’s stock, valued at $2,311,000.04. The trade was a 16.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,695 shares of company stock worth $1,444,356 over the last ninety days. Corporate insiders own 17.60% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on INCY shares. Royal Bank of Canada restated a “sector perform” rating and set a $70.00 price objective on shares of Incyte in a research report on Thursday, January 23rd. Wells Fargo & Company increased their price target on Incyte from $68.00 to $70.00 and gave the company an “equal weight” rating in a report on Thursday, December 19th. The Goldman Sachs Group upped their price objective on Incyte from $63.00 to $70.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Cantor Fitzgerald reissued a “neutral” rating on shares of Incyte in a research report on Friday, January 10th. Finally, UBS Group initiated coverage on Incyte in a research note on Tuesday, December 17th. They set a “neutral” rating and a $77.00 price target for the company. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $75.71.

Incyte Trading Up 1.5 %

Shares of Incyte stock opened at $75.26 on Thursday. Incyte Co. has a fifty-two week low of $50.35 and a fifty-two week high of $83.95. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.82 and a current ratio of 1.87. The company has a market capitalization of $14.50 billion, a P/E ratio of 537.61, a P/E/G ratio of 0.54 and a beta of 0.70. The company has a fifty day moving average of $71.82 and a 200 day moving average of $68.99.

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.