denkapparat Operations GmbH Purchases 3,564 Shares of Incyte Corporation $INCY

denkapparat Operations GmbH lifted its position in shares of Incyte Corporation (NASDAQ:INCY) by 46.1% during the 2nd quarter, HoldingsChannel reports. The fund owned 11,292 shares of the biopharmaceutical company’s stock after purchasing an additional 3,564 shares during the period. denkapparat Operations GmbH’s holdings in Incyte were worth $769,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of INCY. Assenagon Asset Management S.A. raised its position in Incyte by 1.7% in the second quarter. Assenagon Asset Management S.A. now owns 8,993 shares of the biopharmaceutical company’s stock valued at $612,000 after purchasing an additional 147 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in Incyte by 10.1% in the 2nd 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 during the last quarter. Advisory Alpha LLC boosted its position in Incyte by 2.1% during the 1st 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 period. Wealthfront Advisers LLC grew its holdings in Incyte by 2.4% during the 2nd quarter. Wealthfront Advisers LLC now owns 7,366 shares of the biopharmaceutical company’s stock worth $502,000 after acquiring an additional 171 shares during the last quarter. Finally, Huntington National Bank grew its holdings in Incyte by 24.3% during 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 during the last quarter. Institutional investors and hedge funds own 96.97% of the company’s stock.

Incyte Stock Performance

Shares of Incyte stock opened at $108.16 on Wednesday. The business has a 50-day moving average price of $89.16 and a two-hundred day moving average price of $77.29. Incyte Corporation has a 1-year low of $53.56 and a 1-year high of $108.81. The company has a current ratio of 3.20, a quick ratio of 2.78 and a debt-to-equity ratio of 0.01. The company has a market cap of $21.23 billion, a P/E ratio of 18.12, a PEG ratio of 0.70 and a beta of 0.74.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on INCY shares. Wells Fargo & Company raised their price target on shares of Incyte from $89.00 to $97.00 and gave the company an “overweight” rating in a research note on Wednesday, October 29th. Oppenheimer lowered Incyte from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 8th. Stifel Nicolaus lifted their target price on Incyte from $110.00 to $115.00 and gave the stock a “buy” rating in a report on Monday, September 22nd. Piper Sandler increased their price target on Incyte from $82.00 to $102.00 and gave the company an “overweight” rating in a research note on Tuesday, November 4th. Finally, Citigroup raised their price objective on Incyte from $88.00 to $103.00 and gave the stock a “buy” rating in a research report on Wednesday, July 30th. One equities research 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 issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $92.77.

Insider Activity at Incyte

In other news, EVP Lee Heeson sold 3,074 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president owned 29,241 shares of the company’s stock, valued at $2,749,238.82. This trade represents a 9.51% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Sheila A. Denton sold 598 shares of Incyte stock in a transaction on Tuesday, November 4th. The shares were 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 owned 26,569 shares of the company’s stock, valued at $2,693,033.84. This represents a 2.20% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 4,227 shares of company stock valued at $396,327 in the last ninety days. 17.80% of the stock is currently owned by insiders.

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.