Czech National Bank Increases Stock Position in Incyte Corporation $INCY

Czech National Bank boosted its stake in Incyte Corporation (NASDAQ:INCY) by 6.4% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 39,271 shares of the biopharmaceutical company’s stock after purchasing an additional 2,378 shares during the quarter. Czech National Bank’s holdings in Incyte were worth $2,674,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Banque Transatlantique SA purchased a new stake in Incyte in the 1st quarter worth $26,000. SVB Wealth LLC purchased a new stake in shares of Incyte during the 1st quarter valued at about $39,000. Geneos Wealth Management Inc. raised its position in shares of Incyte by 350.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 756 shares of the biopharmaceutical company’s stock valued at $46,000 after buying an additional 588 shares in the last quarter. WPG Advisers LLC purchased a new stake in shares of Incyte during the 1st quarter valued at about $47,000. Finally, Caitong International Asset Management Co. Ltd raised its position in shares of Incyte by 161.2% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 854 shares of the biopharmaceutical company’s stock valued at $52,000 after buying an additional 527 shares in the last quarter. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Insider Activity at Incyte

In related news, EVP Vijay K. Iyengar sold 8,617 shares of Incyte stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $68.15, for a total transaction of $587,248.55. Following the transaction, the executive vice president owned 37,701 shares in the company, valued at approximately $2,569,323.15. The trade was a 18.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Sheila A. Denton sold 599 shares of the firm’s stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $68.61, for a total value of $41,097.39. Following the sale, the executive vice president owned 26,504 shares of the company’s stock, valued at $1,818,439.44. This represents a 2.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 56,376 shares of company stock worth $3,859,312 in the last 90 days. Company insiders own 17.80% of the company’s stock.

Incyte Trading Up 0.6%

Shares of INCY opened at $86.53 on Friday. The firm’s 50-day moving average is $80.18 and its two-hundred day moving average is $69.56. The firm has a market capitalization of $16.90 billion, a P/E ratio of 19.67, a PEG ratio of 0.67 and a beta of 0.75. Incyte Corporation has a twelve month low of $53.56 and a twelve month high of $87.99. The company has a current ratio of 2.85, a quick ratio of 2.78 and a debt-to-equity ratio of 0.01.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on INCY. Stifel Nicolaus upgraded shares of Incyte from a “hold” rating to a “buy” rating and upped their target price for the company from $75.00 to $107.00 in a research report on Monday, June 16th. Wall Street Zen downgraded shares of Incyte from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 13th. Truist Financial upped their price target on shares of Incyte from $73.00 to $79.00 and gave the stock a “hold” rating in a research report on Wednesday, July 30th. Barclays initiated coverage on shares of Incyte in a research note on Friday, August 1st. They issued an “overweight” rating and a $90.00 target price for the company. Finally, BMO Capital Markets reaffirmed an “underperform” rating and issued a $60.00 price target (up from $52.00) on shares of Incyte in a report on Wednesday, July 30th. Seven analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $82.53.

Incyte Company 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.