V Square Quantitative Management LLC Buys 2,553 Shares of Incyte Corporation $INCY

V Square Quantitative Management LLC boosted its stake in Incyte Corporation (NASDAQ:INCY) by 70.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,193 shares of the biopharmaceutical company’s stock after purchasing an additional 2,553 shares during the quarter. V Square Quantitative Management LLC’s holdings in Incyte were worth $422,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in INCY. AQR Capital Management LLC boosted its stake in Incyte by 92.3% in the 1st quarter. AQR Capital Management LLC now owns 6,736,169 shares of the biopharmaceutical company’s stock worth $405,787,000 after purchasing an additional 3,233,356 shares during the period. Acadian Asset Management LLC raised its holdings in shares of Incyte by 65.6% in the 1st quarter. Acadian Asset Management LLC now owns 2,511,872 shares of the biopharmaceutical company’s stock valued at $152,062,000 after acquiring an additional 994,609 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of Incyte by 581.3% in the 1st quarter. Victory Capital Management Inc. now owns 813,140 shares of the biopharmaceutical company’s stock valued at $49,236,000 after acquiring an additional 693,782 shares in the last quarter. Jupiter Asset Management Ltd. raised its holdings in shares of Incyte by 469.9% in the 1st quarter. Jupiter Asset Management Ltd. now owns 829,764 shares of the biopharmaceutical company’s stock valued at $50,242,000 after acquiring an additional 684,171 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its holdings in shares of Incyte by 56.8% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,398,143 shares of the biopharmaceutical company’s stock valued at $84,658,000 after acquiring an additional 506,484 shares in the last quarter. Institutional investors own 96.97% of the company’s stock.

Incyte Price Performance

Shares of INCY stock opened at $84.81 on Wednesday. The stock has a market cap of $16.56 billion, a price-to-earnings ratio of 19.28, a PEG ratio of 0.65 and a beta of 0.75. The business’s fifty day moving average is $82.30 and its 200 day moving average is $70.27. Incyte Corporation has a twelve month low of $53.56 and a twelve month high of $87.99. The company has a quick ratio of 2.78, a current ratio of 2.85 and a debt-to-equity ratio of 0.01.

Insider Buying and Selling

In related news, EVP Steven H. Stein sold 3,706 shares of the company’s stock in a transaction on Monday, July 21st. The stock was sold at an average price of $67.94, for a total value of $251,785.64. Following the sale, the executive vice president directly owned 102,886 shares of the company’s stock, valued at $6,990,074.84. This represents a 3.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Vijay K. Iyengar sold 1,177 shares of the company’s stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $69.86, for a total value of $82,225.22. Following the completion of the sale, the executive vice president directly owned 35,929 shares in the company, valued at approximately $2,509,999.94. The trade was a 3.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 55,777 shares of company stock valued at $3,818,215 over the last ninety days. Company insiders own 17.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Barclays assumed coverage on Incyte in a report on Friday, August 1st. They issued an “overweight” rating and a $90.00 price target on the stock. Wall Street Zen cut Incyte from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 13th. Royal Bank Of Canada raised their price objective on Incyte from $72.00 to $81.00 and gave the company a “sector perform” rating in a report on Wednesday, September 24th. JPMorgan Chase & Co. raised their price objective on Incyte from $67.00 to $73.00 and gave the company a “neutral” rating in a report on Friday, August 22nd. Finally, Wells Fargo & Company raised Incyte from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $67.00 to $89.00 in a report on Wednesday, August 6th. Six investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $83.64.

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.