Foundry Partners LLC decreased its position in Incyte Corp. (NASDAQ:INCY) by 17.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,522 shares of the biopharmaceutical company’s stock after selling 1,358 shares during the period. Foundry Partners LLC’s holdings in Incyte Corp. were worth $615,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently bought and sold shares of the company. Fuller & Thaler Asset Management Inc. bought a new stake in Incyte Corp. during the second quarter worth approximately $104,000. Acrospire Investment Management LLC boosted its stake in Incyte Corp. by 18.2% in the second quarter. Acrospire Investment Management LLC now owns 1,300 shares of the biopharmaceutical company’s stock worth $104,000 after buying an additional 200 shares in the last quarter. Seven Eight Capital LLC bought a new stake in Incyte Corp. during the first quarter worth approximately $113,000. Walleye Trading LLC bought a new stake in Incyte Corp. during the second quarter worth approximately $120,000. Finally, Fifth Third Bancorp boosted its stake in Incyte Corp. by 16.2% in the second quarter. Fifth Third Bancorp now owns 1,678 shares of the biopharmaceutical company’s stock worth $134,000 after buying an additional 234 shares in the last quarter. Hedge funds and other institutional investors own 92.34% of the company’s stock.
Shares of Incyte Corp. (NASDAQ:INCY) traded up 0.87% during midday trading on Friday, hitting $107.73. The stock had a trading volume of 783,715 shares. The firm has a 50-day moving average of $94.54 and a 200 day moving average of $85.83. The firm has a market cap of $20.29 billion, a PE ratio of 144.80 and a beta of 0.79. Incyte Corp. has a 12-month low of $55.00 and a 12-month high of $118.49.
INCY has been the subject of several recent analyst reports. SunTrust Banks Inc. initiated coverage on Incyte Corp. in a report on Friday, August 5th. They issued a “buy” rating and a $105.00 price target for the company. Piper Jaffray Cos. restated a “buy” rating and issued a $102.00 price target (up previously from $76.00) on shares of Incyte Corp. in a report on Monday, August 1st. Jefferies Group restated a “buy” rating and issued a $98.00 price target on shares of Incyte Corp. in a report on Wednesday, August 10th. JPMorgan Chase & Co. restated a “buy” rating on shares of Incyte Corp. in a report on Wednesday, September 28th. Finally, Argus lifted their price target on Incyte Corp. from $92.00 to $98.00 and gave the company a “buy” rating in a report on Monday, September 26th. One analyst has rated the stock with a sell rating, one has given a hold rating and twenty have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $103.08.
In other news, EVP Reid M. Huber sold 2,715 shares of the stock in a transaction dated Wednesday, November 9th. The stock was sold at an average price of $109.95, for a total transaction of $298,514.25. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Barry P. Flannelly sold 24,204 shares of the stock in a transaction dated Friday, October 7th. The shares were sold at an average price of $97.00, for a total value of $2,347,788.00. Following the transaction, the executive vice president now directly owns 13,595 shares in the company, valued at approximately $1,318,715. The disclosure for this sale can be found here. Insiders own 13.70% of the company’s stock.
Incyte Corp. Company Profile
Incyte Corporation is a biopharmaceutical company. The Company is focused on the discovery, development and commercialization of therapeutics to treat medical needs, primarily in oncology. The Company focuses on the research and development program to explore the inhibition of enzymes called janus associated kinases (JAK).