Tectonic Advisors LLC Increases Position in Incyte Co. (NASDAQ:INCY)

Tectonic Advisors LLC lifted its position in shares of Incyte Co. (NASDAQ:INCY) by 1.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,599 shares of the biopharmaceutical company’s stock after purchasing an additional 209 shares during the period. Tectonic Advisors LLC’s holdings in Incyte were worth $870,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Creative Planning increased its stake in Incyte by 13.4% in the second quarter. Creative Planning now owns 21,059 shares of the biopharmaceutical company’s stock valued at $1,277,000 after purchasing an additional 2,496 shares during the last quarter. Truist Financial Corp purchased a new position in shares of Incyte in the 2nd quarter valued at $1,122,000. GAMMA Investing LLC raised its stake in Incyte by 70.2% during the 3rd quarter. GAMMA Investing LLC now owns 4,874 shares of the biopharmaceutical company’s stock worth $322,000 after acquiring an additional 2,010 shares in the last quarter. CWM LLC lifted its position in Incyte by 79.3% in the third quarter. CWM LLC now owns 14,297 shares of the biopharmaceutical company’s stock valued at $945,000 after acquiring an additional 6,325 shares during the last quarter. Finally, Tobam acquired a new position in Incyte in the third quarter valued at $878,000. Institutional investors and hedge funds own 96.97% of the company’s stock.

Incyte Trading Up 1.5 %

NASDAQ:INCY opened at $75.26 on Thursday. Incyte Co. has a 1 year low of $50.35 and a 1 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 stock has a fifty day moving average price of $71.82 and a two-hundred day moving average price of $68.99. The stock has a market capitalization of $14.50 billion, a price-to-earnings ratio of 537.61, a PEG ratio of 0.54 and a beta of 0.70.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on INCY shares. Morgan Stanley boosted their target price on Incyte from $64.00 to $69.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Bank of America upgraded Incyte from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $68.00 to $90.00 in a research note on Tuesday, October 29th. JMP Securities restated a “market perform” rating on shares of Incyte in a research report on Tuesday, January 14th. JPMorgan Chase & Co. lifted their target price on shares of Incyte from $65.00 to $71.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Finally, William Blair reiterated an “outperform” rating on shares of Incyte in a research note on Friday, December 13th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $75.71.

Insider Transactions at Incyte

In related news, EVP Vijay K. Iyengar sold 6,043 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $75.38, for a total value of $455,521.34. Following the sale, the executive vice president now owns 30,658 shares in the company, valued at $2,311,000.04. This represents a 16.47 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Steven H. Stein sold 12,352 shares of the firm’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 value of $897,866.88. Following the completion of the transaction, the executive vice president now directly owns 66,967 shares of the company’s stock, valued at $4,867,831.23. The trade was a 15.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 19,695 shares of company stock valued at $1,444,356 in the last ninety days. 17.60% of the stock is currently owned by company insiders.

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.