Aberdeen Group plc Has $8.08 Million Stock Position in Incyte Corporation $INCY

Aberdeen Group plc lowered its stake in Incyte Corporation (NASDAQ:INCY) by 8.0% during the second quarter, Holdings Channel reports. The institutional investor owned 118,677 shares of the biopharmaceutical company’s stock after selling 10,298 shares during the period. Aberdeen Group plc’s holdings in Incyte were worth $8,082,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Banque Transatlantique SA acquired a new position in Incyte in the 1st quarter valued at about $26,000. Hilltop National Bank acquired a new position in Incyte in the 2nd quarter valued at about $37,000. SVB Wealth LLC acquired a new position in Incyte in the 1st quarter valued at about $39,000. Geneos Wealth Management Inc. grew its stake in Incyte by 350.0% in 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 during the last quarter. Finally, WPG Advisers LLC acquired a new position in Incyte in the 1st quarter valued at about $47,000. Institutional investors and hedge funds own 96.97% of the company’s stock.

Insider Buying and Selling at Incyte

In other news, EVP Steven H. Stein sold 3,706 shares of the company’s stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $67.94, for a total transaction of $251,785.64. Following the completion of the sale, the executive vice president owned 102,886 shares of the company’s stock, valued at approximately $6,990,074.84. This represents a 3.48% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 17.80% of the company’s stock.

Incyte Stock Performance

Shares of Incyte stock opened at $87.31 on Friday. The company has a 50 day moving average of $85.01 and a 200-day moving average of $72.28. Incyte Corporation has a 1-year low of $53.56 and a 1-year high of $92.86. The company has a current ratio of 2.85, a quick ratio of 2.78 and a debt-to-equity ratio of 0.01. The company has a market cap of $17.05 billion, a PE ratio of 19.84, a price-to-earnings-growth ratio of 0.69 and a beta of 0.73.

Wall Street Analyst Weigh In

A number of research analysts recently commented on INCY shares. UBS Group reiterated a “neutral” rating and issued a $68.00 price target (up previously from $62.00) on shares of Incyte in a research note on Wednesday, July 30th. Oppenheimer lowered shares of Incyte from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 8th. JPMorgan Chase & Co. increased their target price on shares of Incyte from $73.00 to $89.00 and gave the stock a “neutral” rating in a research report on Thursday, October 9th. BMO Capital Markets restated an “underperform” rating and set a $60.00 target price (up previously from $52.00) on shares of Incyte in a research report on Wednesday, July 30th. Finally, Wells Fargo & Company upgraded shares of Incyte from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $67.00 to $89.00 in a research report on Wednesday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $84.79.

About Incyte

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.