JB Capital LLC Grows Position in Incyte Co. (NASDAQ:INCY)

JB Capital LLC lifted its position in shares of Incyte Co. (NASDAQ:INCY) by 3.7% in the fourth quarter, Holdings Channel reports. The firm owned 48,356 shares of the biopharmaceutical company’s stock after purchasing an additional 1,728 shares during the period. JB Capital LLC’s holdings in Incyte were worth $3,340,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. R Squared Ltd purchased a new stake in Incyte during the 4th quarter worth approximately $30,000. Brooklyn Investment Group bought a new stake in shares of Incyte in the third quarter worth $30,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Incyte in the third quarter valued at $33,000. Cromwell Holdings LLC boosted its stake in Incyte by 101.1% during the 3rd quarter. Cromwell Holdings LLC now owns 563 shares of the biopharmaceutical company’s stock valued at $37,000 after acquiring an additional 283 shares during the last quarter. Finally, Blue Trust Inc. boosted its stake in Incyte by 124.6% during the 4th quarter. Blue Trust Inc. now owns 593 shares of the biopharmaceutical company’s stock valued at $39,000 after acquiring an additional 329 shares during the last quarter. Institutional investors and hedge funds own 96.97% of the company’s stock.

Insider Transactions at Incyte

In other news, EVP Steven H. Stein sold 12,352 shares of the company’s stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 66,967 shares of the company’s stock, valued at approximately $4,867,831.23. This represents a 15.57 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Barry P. Flannelly sold 3,680 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $79.68, for a total transaction of $293,222.40. Following the transaction, the executive vice president now owns 58,042 shares in the company, valued at $4,624,786.56. This represents a 5.96 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 23,375 shares of company stock valued at $1,737,578. 17.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on INCY. Cantor Fitzgerald restated a “neutral” rating on shares of Incyte in a research note on Friday, January 10th. BMO Capital Markets reaffirmed an “underperform” rating and set a $52.00 target price (up previously from $48.00) on shares of Incyte in a report on Wednesday, October 30th. The Goldman Sachs Group boosted their price target on Incyte from $63.00 to $70.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Wells Fargo & Company upped their price target on Incyte from $68.00 to $70.00 and gave the company an “equal weight” rating in a research report on Thursday, December 19th. Finally, William Blair reaffirmed an “outperform” rating on shares of Incyte in a report on Friday, December 13th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $75.71.

Incyte Stock Performance

Shares of INCY stock opened at $74.16 on Monday. Incyte Co. has a 12-month low of $50.35 and a 12-month high of $83.95. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.87 and a quick ratio of 1.82. The firm has a market capitalization of $14.29 billion, a price-to-earnings ratio of 529.75, a price-to-earnings-growth ratio of 0.54 and a beta of 0.70. The business has a 50 day simple moving average of $71.83 and a 200 day simple moving average of $68.85.

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.