7,956 Shares in Incyte Corporation $INCY Purchased by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd acquired a new position in Incyte Corporation (NASDAQ:INCY) during the 3rd quarter, HoldingsChannel reports. The fund acquired 7,956 shares of the biopharmaceutical company’s stock, valued at approximately $675,000.

Several other large investors also recently bought and sold shares of the company. Harbor Capital Advisors Inc. acquired a new stake in shares of Incyte in the third quarter worth approximately $26,000. Root Financial Partners LLC acquired a new position in Incyte in the 3rd quarter valued at $28,000. Quent Capital LLC purchased a new position in Incyte in the 3rd quarter valued at $30,000. FNY Investment Advisers LLC acquired a new stake in Incyte during the 2nd quarter worth $27,000. Finally, MUFG Securities EMEA plc acquired a new stake in Incyte during the 2nd quarter worth $32,000. 96.97% of the stock is currently owned by hedge funds and other institutional investors.

Incyte Stock Up 2.6%

Shares of NASDAQ INCY opened at $102.67 on Tuesday. The company has a 50 day simple moving average of $101.82 and a 200-day simple moving average of $92.31. The company has a market capitalization of $20.16 billion, a P/E ratio of 17.20, a P/E/G ratio of 0.60 and a beta of 0.82. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.20 and a quick ratio of 3.13. Incyte Corporation has a 1 year low of $53.56 and a 1 year high of $112.29.

Insiders Place Their Bets

In other Incyte news, EVP Michael James Morrissey sold 4,323 shares of Incyte stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $97.26, for a total value of $420,454.98. Following the sale, the executive vice president owned 27,507 shares in the company, valued at $2,675,330.82. The trade was a 13.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Thomas Tray sold 2,774 shares of the company’s stock in a transaction on Friday, December 19th. The shares were sold at an average price of $100.00, for a total value of $277,400.00. Following the completion of the transaction, the insider directly owned 22,973 shares in the company, valued at approximately $2,297,300. This trade represents a 10.77% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 95,225 shares of company stock worth $9,519,745 in the last three months. 17.80% of the stock is owned by insiders.

Analyst Ratings Changes

INCY has been the subject of a number of recent research reports. Morgan Stanley increased their target price on shares of Incyte from $92.00 to $94.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 6th. Guggenheim raised shares of Incyte from a “neutral” rating to a “buy” rating and set a $125.00 price objective for the company in a research note on Monday, November 3rd. Stifel Nicolaus set a $119.00 price objective on shares of Incyte in a report on Monday, January 5th. JPMorgan Chase & Co. raised their target price on shares of Incyte from $73.00 to $89.00 and gave the stock a “neutral” rating in a research note on Thursday, October 9th. Finally, Wall Street Zen upgraded Incyte from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 1st. Eight equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $100.75.

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.