Thrivent Financial for Lutherans Purchases 39,660 Shares of Incyte Corporation $INCY

Thrivent Financial for Lutherans grew its position in shares of Incyte Corporation (NASDAQ:INCY) by 106.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 76,911 shares of the biopharmaceutical company’s stock after purchasing an additional 39,660 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Incyte were worth $6,522,000 as of its most recent SEC filing.

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

Incyte Stock Performance

Shares of INCY opened at $108.39 on Friday. Incyte Corporation has a one year low of $53.56 and a one year high of $112.29. The company has a market cap of $21.28 billion, a PE ratio of 18.16, a P/E/G ratio of 0.62 and a beta of 0.82. The stock has a 50-day moving average of $101.69 and a 200-day moving average of $92.97. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.20 and a quick ratio of 3.13.

Insider Transactions at Incyte

In other news, insider Thomas Tray sold 2,774 shares of the business’s stock in a transaction that occurred on Friday, December 19th. The stock was sold at an average price of $100.00, for a total transaction of $277,400.00. Following the completion of the sale, the insider owned 22,973 shares in the company, valued at $2,297,300. The trade was a 10.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Mohamed Khairie Issa sold 10,856 shares of the stock in a transaction 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 completion of the transaction, the executive vice president owned 66,132 shares in the company, valued at approximately $7,213,017.24. This represents a 14.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 95,225 shares of company stock worth $9,519,745. 17.80% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

INCY has been the topic of several recent research reports. TD Cowen reaffirmed a “buy” rating on shares of Incyte in a report on Tuesday, January 13th. Guggenheim upgraded Incyte from a “neutral” rating to a “buy” rating and set a $125.00 price objective for the company in a research report on Monday, November 3rd. Mizuho set a $121.00 price objective on Incyte and gave the stock an “outperform” rating in a research note on Monday, December 8th. Stifel Nicolaus set a $119.00 target price on shares of Incyte in a research report on Monday, January 5th. Finally, Truist Financial set a $103.00 price target on shares of Incyte in a report on Wednesday, December 24th. Nine research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price 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.