Beck Bode LLC Takes $393,000 Position in Incyte Corporation $INCY

Beck Bode LLC purchased a new stake in Incyte Corporation (NASDAQ:INCY) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 5,765 shares of the biopharmaceutical company’s stock, valued at approximately $393,000.

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

Wall Street Analyst Weigh In

INCY has been the subject of a number of recent analyst reports. BMO Capital Markets reaffirmed an “underperform” rating and set a $60.00 price target (up previously from $52.00) on shares of Incyte in a report on Wednesday, July 30th. Barclays boosted their price objective on shares of Incyte from $90.00 to $101.00 and gave the company an “overweight” rating in a research report on Wednesday, October 29th. Wells Fargo & Company raised their target price on Incyte from $89.00 to $97.00 and gave the company an “overweight” rating in a report on Wednesday, October 29th. Citigroup lifted their price target on Incyte from $88.00 to $103.00 and gave the company a “buy” rating in a research note on Wednesday, July 30th. Finally, UBS Group restated a “neutral” rating and set a $68.00 price objective (up from $62.00) on shares of Incyte in a research report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $92.77.

Insider Activity

In other news, EVP Lee Heeson sold 3,074 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $94.02, for a total value of $289,017.48. Following the completion of the transaction, the executive vice president owned 29,241 shares of the company’s stock, valued at $2,749,238.82. This represents a 9.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Sheila A. Denton sold 598 shares of Incyte stock in a transaction that occurred 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 sale, the executive vice president owned 26,569 shares in the company, valued at approximately $2,693,033.84. This represents a 2.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 4,227 shares of company stock valued at $396,327 over the last quarter. Corporate insiders own 17.80% of the company’s stock.

Incyte Stock Up 2.1%

Shares of NASDAQ:INCY opened at $108.16 on Wednesday. Incyte Corporation has a 52-week low of $53.56 and a 52-week high of $108.81. The company has a market capitalization 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. The company has a fifty day moving average of $89.16 and a 200-day moving average of $77.29.

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.