Greenwood Capital Associates LLC Acquires 219 Shares of Incyte Co. (NASDAQ:INCY)

Greenwood Capital Associates LLC lifted its holdings in Incyte Co. (NASDAQ:INCYFree Report) by 3.3% in the fourth quarter, Holdings Channel reports. The fund owned 6,765 shares of the biopharmaceutical company’s stock after purchasing an additional 219 shares during the quarter. Greenwood Capital Associates LLC’s holdings in Incyte were worth $467,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in INCY. Brooklyn Investment Group purchased a new stake in Incyte during the 3rd quarter valued at $30,000. R Squared Ltd bought a new position in Incyte during the fourth quarter valued at $30,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Incyte in the third quarter valued at $33,000. Cromwell Holdings LLC lifted its holdings in shares of Incyte by 101.1% in the 3rd quarter. Cromwell Holdings LLC now owns 563 shares of the biopharmaceutical company’s stock worth $37,000 after acquiring an additional 283 shares during the last quarter. Finally, Groupama Asset Managment boosted its stake in shares of Incyte by 11.4% during the 3rd quarter. Groupama Asset Managment now owns 59,597 shares of the biopharmaceutical company’s stock worth $39,000 after purchasing an additional 6,105 shares during the period. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Incyte Stock Performance

INCY stock opened at $74.12 on Wednesday. Incyte Co. has a one year low of $50.35 and a one year high of $83.95. The firm has a market cap of $14.28 billion, a price-to-earnings ratio of 529.47, a PEG ratio of 0.54 and a beta of 0.70. 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 has a 50-day simple moving average of $71.83 and a two-hundred day simple moving average of $68.93.

Analyst Upgrades and Downgrades

Several analysts have issued reports on INCY shares. Wells Fargo & Company raised their price objective on shares of Incyte from $68.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 19th. StockNews.com raised Incyte from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. Oppenheimer upped their price objective on Incyte from $81.00 to $82.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Royal Bank of Canada reiterated a “sector perform” rating and set a $70.00 target price on shares of Incyte in a research report on Thursday, January 23rd. Finally, UBS Group started coverage on shares of Incyte in a report on Tuesday, December 17th. They issued a “neutral” rating and a $77.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $75.71.

Read Our Latest Stock Analysis on INCY

Insider Activity at Incyte

In related news, EVP Vijay K. Iyengar sold 6,043 shares of Incyte 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 completion of the sale, the executive vice president now directly owns 30,658 shares in the company, valued at $2,311,000.04. This trade represents a 16.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Steven H. Stein sold 12,352 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $72.69, for a total transaction of $897,866.88. Following the transaction, the executive vice president now owns 66,967 shares in the company, valued at $4,867,831.23. The trade was a 15.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,695 shares of company stock valued at $1,444,356 over the last 90 days. Insiders own 17.60% of the company’s stock.

Incyte Company Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding INCY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Incyte Co. (NASDAQ:INCYFree Report).

Institutional Ownership by Quarter for Incyte (NASDAQ:INCY)

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