Incyte Co. (NASDAQ:INCY) Shares Bought by Blue Trust Inc.

Blue Trust Inc. grew its position in Incyte Co. (NASDAQ:INCY) by 124.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 593 shares of the biopharmaceutical company’s stock after acquiring an additional 329 shares during the period. Blue Trust Inc.’s holdings in Incyte were worth $39,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of INCY. Orion Portfolio Solutions LLC acquired a new position in Incyte in the 3rd quarter worth about $770,000. CWA Asset Management Group LLC acquired a new position in shares of Incyte during the 4th quarter worth approximately $1,933,000. Greenwood Capital Associates LLC purchased a new position in shares of Incyte during the 3rd quarter valued at approximately $433,000. Tri Ri Asset Management Corp acquired a new stake in Incyte in the 3rd quarter valued at $3,292,000. Finally, Cypress Capital Group acquired a new stake in Incyte in the 3rd quarter valued at $971,000. 96.97% of the stock is owned by hedge funds and other institutional investors.

Incyte Stock Performance

Shares of INCY stock opened at $74.13 on Monday. Incyte Co. has a one year low of $50.35 and a one year 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 firm’s 50 day moving average price is $71.79 and its 200-day moving average price is $69.16. The firm has a market cap of $14.28 billion, a P/E ratio of 529.54, a P/E/G ratio of 0.53 and a beta of 0.70.

Insiders Place Their Bets

In other Incyte news, EVP Vijay K. Iyengar sold 6,043 shares of the stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $75.38, for a total value of $455,521.34. Following the transaction, the executive vice president now directly owns 30,658 shares in the company, valued at $2,311,000.04. This represents a 16.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Steven H. Stein sold 12,352 shares of Incyte stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $72.69, for a total value of $897,866.88. Following the transaction, the executive vice president now directly owns 66,967 shares in the company, valued at approximately $4,867,831.23. This trade represents a 15.57 % decrease in their position. 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.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on INCY shares. The Goldman Sachs Group increased their price objective on shares of Incyte from $63.00 to $70.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Oppenheimer lifted their price objective on Incyte from $81.00 to $82.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. BMO Capital Markets reissued an “underperform” rating and set a $52.00 target price (up previously from $48.00) on shares of Incyte in a report on Wednesday, October 30th. Royal Bank of Canada restated a “sector perform” rating and issued a $70.00 target price on shares of Incyte in a research report on Thursday, January 23rd. Finally, Wells Fargo & Company boosted their price target on Incyte from $68.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 19th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $75.71.

Incyte 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.