5,179 Shares in Incyte Co. (NASDAQ:INCY) Purchased by Tandem Financial LLC

Tandem Financial LLC purchased a new position in shares of Incyte Co. (NASDAQ:INCY) during the fourth quarter, HoldingsChannel reports. The institutional investor purchased 5,179 shares of the biopharmaceutical company’s stock, valued at approximately $358,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Creative Planning increased its holdings in shares of Incyte by 13.4% during the 2nd quarter. Creative Planning now owns 21,059 shares of the biopharmaceutical company’s stock worth $1,277,000 after buying an additional 2,496 shares during the last quarter. Truist Financial Corp acquired a new stake in Incyte during the second quarter worth about $1,122,000. GAMMA Investing LLC raised its holdings in shares of Incyte by 70.2% in the 3rd quarter. GAMMA Investing LLC now owns 4,874 shares of the biopharmaceutical company’s stock worth $322,000 after purchasing an additional 2,010 shares during the period. CWM LLC lifted its stake in shares of Incyte by 79.3% in the 3rd quarter. CWM LLC now owns 14,297 shares of the biopharmaceutical company’s stock valued at $945,000 after purchasing an additional 6,325 shares in the last quarter. Finally, Tobam purchased a new stake in shares of Incyte during the 3rd quarter worth about $878,000. 96.97% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Incyte

In other news, EVP Vijay K. Iyengar sold 6,043 shares of the firm’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $75.38, for a total transaction of $455,521.34. Following the transaction, the executive vice president now directly owns 30,658 shares of the company’s stock, valued at approximately $2,311,000.04. This trade represents a 16.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Thomas Tray sold 650 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $69.31, for a total transaction of $45,051.50. Following the completion of the sale, the insider now directly owns 23,312 shares of the company’s stock, valued at $1,615,754.72. The trade was a 2.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,695 shares of company stock worth $1,444,356 over the last ninety days. Company insiders own 17.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on INCY. Morgan Stanley raised their price target on shares of Incyte from $64.00 to $69.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Oppenheimer raised their target price on shares of Incyte from $81.00 to $82.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. StockNews.com raised shares of Incyte from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. William Blair restated an “outperform” rating on shares of Incyte in a research note on Friday, December 13th. Finally, JPMorgan Chase & Co. raised their target price on Incyte from $65.00 to $71.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Incyte currently has an average rating of “Hold” and an average target price of $75.71.

Incyte Stock Performance

Incyte stock opened at $74.95 on Friday. The company has a market cap of $14.44 billion, a PE ratio of 535.40, a P/E/G ratio of 0.54 and a beta of 0.70. Incyte Co. has a 12 month low of $50.35 and a 12 month high of $83.95. The company has a fifty day moving average price of $71.81 and a two-hundred day moving average price of $69.04. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.87 and a quick ratio of 1.82.

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.