Savant Capital LLC Has $7.79 Million Position in Incyte Corporation $INCY

Savant Capital LLC boosted its stake in shares of Incyte Corporation (NASDAQ:INCY) by 17.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 91,842 shares of the biopharmaceutical company’s stock after acquiring an additional 13,420 shares during the quarter. Savant Capital LLC’s holdings in Incyte were worth $7,789,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of INCY. Arrowstreet Capital Limited Partnership boosted its holdings in Incyte by 701.8% in the second quarter. Arrowstreet Capital Limited Partnership now owns 2,730,648 shares of the biopharmaceutical company’s stock valued at $185,957,000 after acquiring an additional 2,390,084 shares during the last quarter. AQR Capital Management LLC grew its stake in Incyte by 21.8% in the second quarter. AQR Capital Management LLC now owns 8,201,455 shares of the biopharmaceutical company’s stock valued at $558,519,000 after acquiring an additional 1,465,286 shares during the period. Norges Bank bought a new stake in Incyte during the 2nd quarter worth approximately $96,776,000. Pacer Advisors Inc. increased its position in shares of Incyte by 8,091.6% during the third quarter. Pacer Advisors Inc. now owns 1,248,642 shares of the biopharmaceutical company’s stock worth $105,897,000 after acquiring an additional 1,233,399 shares in the last quarter. Finally, Marshall Wace LLP acquired a new stake in shares of Incyte in the 2nd quarter valued at about $82,485,000. 96.97% of the stock is owned by institutional investors and hedge funds.

Incyte Trading Up 0.2%

INCY opened at $102.76 on Friday. The company has a fifty day moving average price of $101.61 and a two-hundred day moving average price of $92.68. The company has a market cap of $20.17 billion, a P/E ratio of 17.21, a price-to-earnings-growth ratio of 0.62 and a beta of 0.82. The company has a current ratio of 3.20, a quick ratio of 3.13 and a debt-to-equity ratio of 0.01. Incyte Corporation has a 1-year low of $53.56 and a 1-year high of $112.29.

Insider Activity

In other news, EVP Steven H. Stein sold 20,105 shares of the company’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $102.51, for a total value of $2,060,963.55. Following the completion of the transaction, the executive vice president directly owned 63,129 shares of the company’s stock, valued at $6,471,353.79. This represents a 24.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Mohamed Khairie Issa sold 10,856 shares of the company’s stock in a transaction that occurred on Wednesday, January 7th. The shares were sold at an average price of $109.07, for a total value of $1,184,063.92. Following the completion of the transaction, the executive vice president owned 66,132 shares in the company, valued at approximately $7,213,017.24. The trade was a 14.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 95,225 shares of company stock valued at $9,519,745 over the last quarter. 17.80% of the stock is owned by insiders.

Analysts Set New Price Targets

INCY has been the topic of several analyst reports. JPMorgan Chase & Co. upped their target price on Incyte from $73.00 to $89.00 and gave the stock a “neutral” rating in a report on Thursday, October 9th. Stifel Nicolaus set a $119.00 target price on shares of Incyte in a research note on Monday, January 5th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Incyte in a research note on Thursday, January 22nd. Barclays boosted their price objective on shares of Incyte from $115.00 to $116.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Piper Sandler reiterated an “overweight” rating and set a $110.00 target price on shares of Incyte in a research report on Friday. Nine equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $103.29.

About Incyte

Incyte Corporation is a Wilmington, Delaware–based biopharmaceutical company focused on the discovery, development and commercialization of novel therapies in oncology and inflammation. Since its founding in 2002, Incyte has grown from a small research organization into a global enterprise, advancing a portfolio of internally developed and partnered assets. The company’s research and development efforts center on small-molecule drugs and biologics that modulate critical signaling pathways implicated in cancer, autoimmune disorders and rare diseases.

The company’s flagship product is Jakafi® (ruxolitinib), a Janus kinase (JAK) inhibitor approved for the treatment of myelofibrosis and polycythemia vera.