Incyte Corporation $INCY Shares Sold by True Wealth Design LLC

True Wealth Design LLC trimmed its position in Incyte Corporation (NASDAQ:INCY) by 52.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,088 shares of the biopharmaceutical company’s stock after selling 1,186 shares during the quarter. True Wealth Design LLC’s holdings in Incyte were worth $74,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of INCY. Vanguard Group Inc. raised its stake in Incyte by 2.1% in the first quarter. Vanguard Group Inc. now owns 19,997,823 shares of the biopharmaceutical company’s stock valued at $1,210,868,000 after buying an additional 417,346 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of Incyte by 92.3% in the 1st quarter. AQR Capital Management LLC now owns 6,736,169 shares of the biopharmaceutical company’s stock valued at $405,787,000 after acquiring an additional 3,233,356 shares during the last quarter. LSV Asset Management increased its holdings in shares of Incyte by 4.9% in the 1st quarter. LSV Asset Management now owns 3,637,974 shares of the biopharmaceutical company’s stock valued at $220,279,000 after acquiring an additional 170,484 shares during the last quarter. Invesco Ltd. raised its position in shares of Incyte by 4.0% during the 1st quarter. Invesco Ltd. now owns 3,168,750 shares of the biopharmaceutical company’s stock worth $191,868,000 after acquiring an additional 120,543 shares in the last quarter. Finally, Acadian Asset Management LLC lifted its stake in Incyte by 65.6% during the first quarter. Acadian Asset Management LLC now owns 2,511,872 shares of the biopharmaceutical company’s stock worth $152,062,000 after purchasing an additional 994,609 shares during the last quarter. 96.97% of the stock is owned by hedge funds and other institutional investors.

Incyte Stock Performance

NASDAQ INCY opened at $105.98 on Friday. The firm has a market cap of $20.81 billion, a P/E ratio of 17.75, a P/E/G ratio of 0.70 and a beta of 0.74. Incyte Corporation has a 52-week low of $53.56 and a 52-week high of $106.47. The business’s 50-day moving average price is $88.29 and its 200 day moving average price is $76.35. The company has a quick ratio of 2.78, a current ratio of 3.20 and a debt-to-equity ratio of 0.01.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on INCY. Citigroup boosted their price objective on shares of Incyte from $88.00 to $103.00 and gave the stock a “buy” rating in a research report on Wednesday, July 30th. JPMorgan Chase & Co. upped their price objective on shares of Incyte from $73.00 to $89.00 and gave the company a “neutral” rating in a research note on Thursday, October 9th. Truist Financial reaffirmed a “hold” rating and set a $93.00 price objective (up previously from $79.00) on shares of Incyte in a report on Wednesday, October 29th. Bank of America boosted their target price on Incyte from $90.00 to $104.00 and gave the company a “buy” rating in a report on Thursday, September 4th. Finally, Guggenheim upgraded Incyte from a “neutral” rating to a “buy” rating and set a $125.00 price target on the stock in a research note on Monday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $92.77.

Insider Activity at Incyte

In related news, EVP Sheila A. Denton sold 598 shares of the stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $101.36, for a total transaction of $60,613.28. Following the completion of the sale, the executive vice president directly owned 26,569 shares of the company’s stock, valued at $2,693,033.84. This trade represents a 2.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Lee Heeson sold 3,074 shares of Incyte stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $94.02, for a total transaction of $289,017.48. Following the completion of the transaction, 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 have sold 4,227 shares of company stock valued at $396,327 in the last 90 days. Company insiders own 17.80% of the company’s stock.

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.