Exchange Traded Concepts LLC Increases Position in Incyte Co. (NASDAQ:INCY)

Exchange Traded Concepts LLC grew its position in shares of Incyte Co. (NASDAQ:INCY - Free Report) by 81.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 33,325 shares of the biopharmaceutical company's stock after purchasing an additional 14,953 shares during the period. Exchange Traded Concepts LLC's holdings in Incyte were worth $2,203,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. MFA Wealth Advisors LLC purchased a new position in shares of Incyte in the second quarter worth $26,000. Redmont Wealth Advisors LLC purchased a new position in shares of Incyte in the first quarter valued at about $28,000. Riverview Trust Co bought a new position in shares of Incyte during the first quarter valued at about $29,000. Innealta Capital LLC purchased a new stake in shares of Incyte during the second quarter worth about $32,000. Finally, Fidelis Capital Partners LLC bought a new stake in shares of Incyte in the first quarter worth about $32,000. Hedge funds and other institutional investors own 96.97% of the company's stock.

Insider Buying and Selling at Incyte

In other Incyte news, EVP Vijay K. Iyengar sold 15,571 shares of the stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $70.00, for a total transaction of $1,089,970.00. Following the sale, the executive vice president now owns 36,701 shares of the company's stock, valued at approximately $2,569,070. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Vijay K. Iyengar sold 15,571 shares of the business's stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $70.00, for a total transaction of $1,089,970.00. Following the completion of the transaction, the executive vice president now owns 36,701 shares in the company, valued at $2,569,070. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Thomas Tray sold 572 shares of Incyte stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $62.94, for a total transaction of $36,001.68. Following the completion of the transaction, the insider now directly owns 24,825 shares in the company, valued at $1,562,485.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 24,593 shares of company stock valued at $1,652,914 in the last ninety days. Corporate insiders own 17.50% of the company's stock.

Incyte Price Performance

Shares of NASDAQ INCY traded up $0.85 during midday trading on Tuesday, reaching $66.29. 1,160,477 shares of the stock traded hands, compared to its average volume of 2,379,742. The company's 50 day moving average is $64.47 and its 200 day moving average is $60.72. Incyte Co. has a one year low of $50.27 and a one year high of $70.36. The stock has a market capitalization of $14.88 billion, a PE ratio of 20.09, a P/E/G ratio of 5.30 and a beta of 0.73. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.92 and a quick ratio of 1.84.

Incyte (NASDAQ:INCY - Get Free Report) last released its earnings results on Tuesday, July 30th. The biopharmaceutical company reported ($1.82) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($2.60). Incyte had a return on equity of 0.75% and a net margin of 2.52%. The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter last year, the business posted $0.77 EPS. Incyte's revenue was up 9.3% compared to the same quarter last year. On average, equities research analysts anticipate that Incyte Co. will post 0.66 earnings per share for the current year.

Wall Street Analysts Forecast Growth

INCY has been the subject of several research reports. Bank of America boosted their price objective on shares of Incyte from $66.00 to $68.00 and gave the stock a "neutral" rating in a research note on Monday, September 16th. Truist Financial restated a "hold" rating and issued a $74.00 price target (down previously from $83.00) on shares of Incyte in a research note on Wednesday, September 18th. Cantor Fitzgerald reiterated a "neutral" rating on shares of Incyte in a research note on Monday, September 16th. JMP Securities reissued a "market perform" rating on shares of Incyte in a research note on Tuesday, September 17th. Finally, William Blair reaffirmed an "outperform" rating on shares of Incyte in a research report on Monday, September 9th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Incyte has a consensus rating of "Hold" and a consensus target price of $73.21.

Incyte Company 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.