Greenleaf Trust Raises Position in Incyte Co. (NASDAQ:INCY)

Greenleaf Trust boosted its position in Incyte Co. (NASDAQ:INCY) by 4.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,066 shares of the biopharmaceutical company’s stock after purchasing an additional 217 shares during the period. Greenleaf Trust’s holdings in Incyte were worth $350,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of INCY. Haverford Trust Co lifted its position in Incyte by 1.8% in the 3rd quarter. Haverford Trust Co now owns 7,796 shares of the biopharmaceutical company’s stock worth $515,000 after buying an additional 135 shares during the last quarter. V Square Quantitative Management LLC raised its stake in shares of Incyte by 4.1% during the third quarter. V Square Quantitative Management LLC now owns 3,963 shares of the biopharmaceutical company’s stock worth $262,000 after acquiring an additional 155 shares in the last quarter. Tectonic Advisors LLC lifted its holdings in shares of Incyte by 1.6% in the 3rd quarter. Tectonic Advisors LLC now owns 12,390 shares of the biopharmaceutical company’s stock worth $819,000 after acquiring an additional 190 shares during the last quarter. 180 Wealth Advisors LLC boosted its stake in shares of Incyte by 3.9% in the 4th quarter. 180 Wealth Advisors LLC now owns 5,231 shares of the biopharmaceutical company’s stock valued at $361,000 after purchasing an additional 195 shares in the last quarter. Finally, Burney Co. grew its holdings in shares of Incyte by 7.3% during the 4th quarter. Burney Co. now owns 3,262 shares of the biopharmaceutical company’s stock valued at $225,000 after purchasing an additional 223 shares during the last quarter. 96.97% of the stock is owned by institutional investors.

Incyte Stock Up 1.5 %

Shares of NASDAQ:INCY opened at $75.26 on Thursday. The firm has a market capitalization of $14.50 billion, a P/E ratio of 537.61, a P/E/G 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 stock has a 50 day moving average price of $71.82 and a 200-day moving average price of $68.99. Incyte Co. has a 52-week low of $50.35 and a 52-week high of $83.95.

Wall Street Analyst Weigh In

Several research firms have weighed in on INCY. Citigroup boosted their price target on shares of Incyte from $92.00 to $97.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Wells Fargo & Company increased their target price on Incyte from $68.00 to $70.00 and gave the company an “equal weight” rating in a report on Thursday, December 19th. William Blair reaffirmed an “outperform” rating on shares of Incyte in a research note on Friday, December 13th. BMO Capital Markets reiterated an “underperform” rating and issued a $52.00 price objective (up previously from $48.00) on shares of Incyte in a research report on Wednesday, October 30th. Finally, Cantor Fitzgerald restated a “neutral” rating on shares of Incyte in a report on Friday, January 10th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $75.71.

Insider Buying and Selling

In other news, EVP Steven H. Stein sold 12,352 shares of the company’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $72.69, for a total value of $897,866.88. Following the sale, the executive vice president now directly owns 66,967 shares of the company’s stock, valued at $4,867,831.23. This represents a 15.57 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Vijay K. Iyengar sold 6,043 shares of the stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $75.38, for a total transaction of $455,521.34. Following the completion of the transaction, the executive vice president now owns 30,658 shares of the company’s stock, valued at approximately $2,311,000.04. The trade was a 16.47 % 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 over the last ninety days. Company insiders own 17.60% of the company’s stock.

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.