Amalgamated Bank Reduces Stock Holdings in Incyte Co. (NASDAQ:INCY)

Amalgamated Bank decreased its holdings in Incyte Co. (NASDAQ:INCYFree Report) by 1.1% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 47,915 shares of the biopharmaceutical company’s stock after selling 529 shares during the quarter. Amalgamated Bank’s holdings in Incyte were worth $2,768,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. BlackRock Inc. boosted its stake in Incyte by 15.7% in the 2nd quarter. BlackRock Inc. now owns 23,882,396 shares of the biopharmaceutical company’s stock worth $1,486,679,000 after purchasing an additional 3,246,531 shares during the period. State Street Corp raised its holdings in shares of Incyte by 5.7% during the 2nd quarter. State Street Corp now owns 9,850,455 shares of the biopharmaceutical company’s stock worth $613,191,000 after acquiring an additional 527,398 shares in the last quarter. Royal Bank of Canada raised its holdings in shares of Incyte by 117.4% during the 1st quarter. Royal Bank of Canada now owns 7,682,752 shares of the biopharmaceutical company’s stock worth $610,164,000 after acquiring an additional 4,148,559 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of Incyte by 2.3% during the 1st quarter. Renaissance Technologies LLC now owns 4,697,633 shares of the biopharmaceutical company’s stock worth $373,086,000 after acquiring an additional 106,900 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Incyte by 2.9% during the 2nd quarter. Geode Capital Management LLC now owns 4,077,490 shares of the biopharmaceutical company’s stock worth $253,178,000 after acquiring an additional 115,748 shares in the last quarter. 92.61% of the stock is currently owned by institutional investors.

Insider Transactions at Incyte

In other news, EVP Vijay K. Iyengar sold 657 shares of the stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $65.00, for a total transaction of $42,705.00. Following the transaction, the executive vice president now owns 43,412 shares of the company’s stock, valued at approximately $2,821,780. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 17.50% of the company’s stock.

Incyte Stock Performance

Shares of Incyte stock opened at $57.66 on Friday. Incyte Co. has a 52 week low of $50.27 and a 52 week high of $81.08. The company has a quick ratio of 3.86, a current ratio of 3.91 and a debt-to-equity ratio of 0.01. The stock’s fifty day moving average is $61.03 and its two-hundred day moving average is $59.85. The company has a market capitalization of $12.92 billion, a PE ratio of 30.51, a price-to-earnings-growth ratio of 0.63 and a beta of 0.67.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on INCY shares. SVB Leerink raised Incyte from a “market perform” rating to an “outperform” rating and set a $78.00 price objective on the stock in a report on Wednesday, December 13th. JMP Securities restated a “market outperform” rating and set a $93.00 price target on shares of Incyte in a report on Wednesday, December 13th. Truist Financial restated a “buy” rating and set a $91.00 price target on shares of Incyte in a report on Wednesday, November 29th. Morgan Stanley decreased their price target on Incyte from $74.00 to $64.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 1st. Finally, William Blair restated an “outperform” rating on shares of Incyte in a report on Tuesday, February 6th. Eight research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $78.67.

Check Out Our Latest Stock Analysis on Incyte

Incyte Profile

(Free Report)

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, Europe, Japan, and internationally. The company offers JAKAFI (ruxolitinib), for the treatment of adults with intermediate or high-risk myelofibrosis; MONJUVI (tafasitamab-cxix)/MINJUVI (tafasitamab), for the treatment of adult patients with relapsed or refractory diffuse large B-cell lymphoma; PEMAZYRE (pemigatinib), a fibroblast growth factor receptor kinase inhibitor that act as oncogenic drivers in various liquid and solid tumor types; and ICLUSIG, a kinase inhibitor to treat chronic myeloid leukemia and philadelphia-chromosome positive acute lymphoblastic leukemia.

Read More

Institutional Ownership by Quarter for Incyte (NASDAQ:INCY)

Receive News & Ratings for Incyte Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Incyte and related companies with MarketBeat.com's FREE daily email newsletter.