Tobam Acquires 10,205 Shares of Incyte Corporation $INCY

Tobam raised its stake in Incyte Corporation (NASDAQ:INCY) by 127.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 18,238 shares of the biopharmaceutical company’s stock after buying an additional 10,205 shares during the quarter. Tobam’s holdings in Incyte were worth $1,242,000 at the end of the most recent reporting period.

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

Incyte Stock Performance

INCY opened at $108.16 on Wednesday. The business’s fifty day moving average is $89.16 and its 200-day moving average is $77.29. The firm has a market cap of $21.23 billion, a P/E 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. Incyte Corporation has a 52-week low of $53.56 and a 52-week high of $108.81.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on INCY. UBS Group reissued a “neutral” rating and set a $68.00 price target (up previously from $62.00) on shares of Incyte in a research report on Wednesday, July 30th. Weiss Ratings restated a “hold (c+)” rating on shares of Incyte in a research note on Wednesday, October 8th. Oppenheimer cut shares of Incyte from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 8th. BMO Capital Markets restated an “underperform” rating and set a $60.00 price objective (up from $52.00) on shares of Incyte in a research report on Wednesday, July 30th. Finally, Bank of America increased their target price on Incyte from $90.00 to $104.00 and gave the stock a “buy” rating in a research note on Thursday, September 4th. Seven analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $92.77.

Insider Activity at Incyte

In other news, EVP Lee Heeson sold 3,074 shares of the company’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $94.02, for a total value of $289,017.48. Following the sale, the executive vice president directly owned 29,241 shares of the company’s stock, valued at approximately $2,749,238.82. This represents a 9.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Sheila A. Denton sold 598 shares of the business’s 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 transaction, the executive vice president owned 26,569 shares in the company, valued at approximately $2,693,033.84. The trade was a 2.20% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 4,227 shares of company stock worth $396,327 over the last quarter. 17.80% of the stock is currently owned by company 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.