Lecap Asset Management Ltd. Takes $836,000 Position in Incyte Co. (NASDAQ:INCY)

Lecap Asset Management Ltd. acquired a new stake in Incyte Co. (NASDAQ:INCY) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 12,108 shares of the biopharmaceutical company’s stock, valued at approximately $836,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of INCY. Truist Financial Corp purchased a new stake in shares of Incyte in the 2nd quarter valued at approximately $1,122,000. GAMMA Investing LLC lifted its holdings in Incyte by 70.2% in the third quarter. GAMMA Investing LLC now owns 4,874 shares of the biopharmaceutical company’s stock valued at $322,000 after acquiring an additional 2,010 shares during the last quarter. CWM LLC grew its position in Incyte by 79.3% in the third quarter. CWM LLC now owns 14,297 shares of the biopharmaceutical company’s stock worth $945,000 after acquiring an additional 6,325 shares during the period. Contravisory Investment Management Inc. acquired a new stake in Incyte during the third quarter worth $478,000. Finally, Livforsakringsbolaget Skandia Omsesidigt raised its position in Incyte by 102.3% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,562 shares of the biopharmaceutical company’s stock valued at $103,000 after purchasing an additional 790 shares during the period. 96.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Incyte news, EVP Vijay K. Iyengar sold 6,043 shares of Incyte stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $75.38, for a total transaction of $455,521.34. Following the completion of the sale, the executive vice president now directly owns 30,658 shares of the company’s stock, valued at $2,311,000.04. The trade was a 16.47 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Steven H. Stein sold 12,352 shares of the stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $72.69, for a total value of $897,866.88. Following the completion of the transaction, the executive vice president now owns 66,967 shares in the company, valued at approximately $4,867,831.23. The trade was a 15.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,695 shares of company stock worth $1,444,356 over the last 90 days. 17.60% of the stock is owned by insiders.

Incyte Stock Performance

Shares of INCY opened at $74.13 on Friday. Incyte Co. has a 1 year low of $50.35 and a 1 year high of $83.95. The stock has a market capitalization of $14.28 billion, a PE ratio of 529.54, a PEG ratio of 0.54 and a beta of 0.70. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.82 and a current ratio of 1.87. The stock has a 50-day simple moving average of $71.80 and a 200-day simple moving average of $69.08.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. JMP Securities reiterated a “market perform” rating on shares of Incyte in a report on Tuesday, January 14th. The Goldman Sachs Group increased their target price on shares of Incyte from $63.00 to $70.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Wells Fargo & Company boosted their price target on shares of Incyte from $68.00 to $70.00 and gave the company an “equal weight” rating in a research note on Thursday, December 19th. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Incyte in a research report on Friday, January 10th. Finally, JPMorgan Chase & Co. boosted their target price on Incyte from $65.00 to $71.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Incyte currently has a consensus rating of “Hold” and an average target price of $75.71.

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.