Tobam Boosts Stock Position in Incyte Corporation $INCY

Tobam grew its holdings in shares of Incyte Corporation (NASDAQ:INCY) by 127.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 18,238 shares of the biopharmaceutical company’s stock after purchasing an additional 10,205 shares during the period. Tobam’s holdings in Incyte were worth $1,242,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Assenagon Asset Management S.A. raised its holdings in shares of Incyte by 1.7% during the second quarter. Assenagon Asset Management S.A. now owns 8,993 shares of the biopharmaceutical company’s stock valued at $612,000 after buying an additional 147 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in Incyte by 10.1% during the second quarter. Farther Finance Advisors LLC now owns 1,706 shares of the biopharmaceutical company’s stock valued at $116,000 after buying an additional 156 shares in the last quarter. Advisory Alpha LLC grew its position in Incyte by 2.1% in the first quarter. Advisory Alpha LLC now owns 8,056 shares of the biopharmaceutical company’s stock worth $488,000 after buying an additional 166 shares during the last quarter. Wealthfront Advisers LLC lifted its holdings in shares of Incyte by 2.4% in the second quarter. Wealthfront Advisers LLC now owns 7,366 shares of the biopharmaceutical company’s stock valued at $502,000 after purchasing an additional 171 shares in the last quarter. Finally, Huntington National Bank lifted its stake in Incyte by 24.3% in the 2nd quarter. Huntington National Bank now owns 1,002 shares of the biopharmaceutical company’s stock worth $68,000 after acquiring an additional 196 shares in the last quarter. 96.97% of the stock is currently owned by institutional investors.

Incyte Stock Performance

Shares of NASDAQ:INCY opened at $108.16 on Wednesday. The business has a fifty day moving average of $89.16 and a 200-day moving average of $77.29. The firm has a market cap of $21.23 billion, a PE ratio of 18.12, a price-to-earnings-growth ratio of 0.70 and a beta of 0.74. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.78 and a current ratio of 3.20. Incyte Corporation has a twelve month low of $53.56 and a twelve month high of $108.81.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on INCY shares. Zacks Research downgraded shares of Incyte from a “strong-buy” rating to a “hold” rating in a research report on Monday. Royal Bank Of Canada upped their target price on shares of Incyte from $81.00 to $84.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 29th. Wells Fargo & Company increased their target price on Incyte from $89.00 to $97.00 and gave the stock an “overweight” rating in a report on Wednesday, October 29th. Weiss Ratings restated a “hold (c+)” rating on shares of Incyte in a research report on Wednesday, October 8th. Finally, Bank of America upped their price target on Incyte from $90.00 to $104.00 and gave the company a “buy” rating in a research report on Thursday, September 4th. Seven analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Incyte presently has an average rating of “Hold” and an average price target of $92.77.

Insider Transactions at Incyte

In related news, EVP Sheila A. Denton sold 598 shares of the stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $101.36, for a total value of $60,613.28. Following the sale, the executive vice president directly owned 26,569 shares in the company, valued at $2,693,033.84. This trade represents a 2.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Lee Heeson sold 3,074 shares of the stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $94.02, for a total transaction of $289,017.48. Following the completion of the sale, the executive vice president owned 29,241 shares in the company, valued at approximately $2,749,238.82. This trade represents a 9.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 4,227 shares of company stock valued at $396,327 in the last quarter. 17.80% of the stock is currently owned by corporate insiders.

Incyte 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.