Incyte Co. (NASDAQ:INCY) Short Interest Update

Incyte Co. (NASDAQ:INCY) saw a large increase in short interest during the month of January. As of January 31st, there was short interest totalling 5,790,000 shares, an increase of 14.9% from the January 15th total of 5,040,000 shares. Currently, 3.1% of the company’s stock are short sold. Based on an average daily trading volume, of 1,980,000 shares, the short-interest ratio is currently 2.9 days.

Insider Transactions at Incyte

In related news, insider Thomas Tray sold 650 shares of the firm’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $70.64, for a total value of $45,916.00. Following the completion of the sale, the insider now directly owns 23,962 shares in the company, valued at approximately $1,692,675.68. This trade represents a 2.64 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Steven H. Stein sold 12,352 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $72.69, for a total transaction of $897,866.88. Following the completion of the sale, the executive vice president now owns 66,967 shares of the company’s stock, valued at $4,867,831.23. This trade represents a 15.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,695 shares of company stock worth $1,444,356 in the last three months. Insiders own 17.60% of the company’s stock.

Hedge Funds Weigh In On Incyte

A number of hedge funds have recently modified their holdings of the business. Haverford Trust Co lifted its holdings in shares of Incyte by 1.8% during the third quarter. Haverford Trust Co now owns 7,796 shares of the biopharmaceutical company’s stock worth $515,000 after purchasing an additional 135 shares during the period. Retirement Systems of Alabama lifted its holdings in shares of Incyte by 0.4% during the fourth quarter. Retirement Systems of Alabama now owns 34,620 shares of the biopharmaceutical company’s stock worth $2,391,000 after purchasing an additional 139 shares during the period. Nissay Asset Management Corp Japan ADV lifted its holdings in shares of Incyte by 0.7% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 20,371 shares of the biopharmaceutical company’s stock worth $1,410,000 after purchasing an additional 150 shares during the period. V Square Quantitative Management LLC lifted its holdings in shares of Incyte by 4.1% during the third quarter. V Square Quantitative Management LLC now owns 3,963 shares of the biopharmaceutical company’s stock worth $262,000 after purchasing an additional 155 shares during the period. Finally, Trust Point Inc. lifted its holdings in shares of Incyte by 5.0% during the fourth quarter. Trust Point Inc. now owns 3,282 shares of the biopharmaceutical company’s stock worth $227,000 after purchasing an additional 156 shares during the period. Institutional investors and hedge funds own 96.97% of the company’s stock.

Incyte Price Performance

Incyte stock traded up $0.41 during mid-day trading on Monday, reaching $70.42. The company had a trading volume of 1,882,071 shares, compared to its average volume of 1,255,658. Incyte has a fifty-two week low of $50.35 and a fifty-two week high of $83.95. The company has a current ratio of 1.87, a quick ratio of 1.82 and a debt-to-equity ratio of 0.01. The company has a market cap of $13.57 billion, a P/E ratio of 503.04, a P/E/G ratio of 0.53 and a beta of 0.70. The business has a fifty day simple moving average of $71.26 and a 200 day simple moving average of $69.22.

Incyte (NASDAQ:INCY) last issued its earnings results on Monday, February 10th. The biopharmaceutical company reported $1.09 earnings per share for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.48). Incyte had a net margin of 0.80% and a negative return on equity of 0.63%. On average, equities research analysts predict that Incyte will post 0.35 earnings per share for the current year.

Wall Street Analyst Weigh In

INCY has been the subject of several research reports. Cantor Fitzgerald restated a “neutral” rating on shares of Incyte in a research report on Friday, January 10th. Morgan Stanley raised their price objective on shares of Incyte from $64.00 to $69.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Oppenheimer raised their price objective on shares of Incyte from $81.00 to $82.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group raised their price objective on shares of Incyte from $63.00 to $70.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Finally, JMP Securities restated a “market perform” rating on shares of Incyte in a research report on Tuesday, February 11th. 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.com, the stock presently has an average rating of “Hold” and a consensus price target of $75.59.

About Incyte

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.