Global X Japan Co. Ltd. Has $27,000 Stock Holdings in Incyte Co. (NASDAQ:INCY)

Global X Japan Co. Ltd. lifted its stake in shares of Incyte Co. (NASDAQ:INCY) by 144.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 389 shares of the biopharmaceutical company’s stock after purchasing an additional 230 shares during the quarter. Global X Japan Co. Ltd.’s holdings in Incyte were worth $27,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of INCY. Truist Financial Corp acquired a new position in Incyte during the second quarter valued at approximately $1,122,000. GAMMA Investing LLC increased its stake in shares of Incyte by 70.2% in the 3rd quarter. GAMMA Investing LLC now owns 4,874 shares of the biopharmaceutical company’s stock valued at $322,000 after purchasing an additional 2,010 shares during the last quarter. CWM LLC raised its holdings in shares of Incyte by 79.3% during the 3rd quarter. CWM LLC now owns 14,297 shares of the biopharmaceutical company’s stock worth $945,000 after buying an additional 6,325 shares in the last quarter. Contravisory Investment Management Inc. bought a new stake in shares of Incyte during the 3rd quarter worth $478,000. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its stake in Incyte by 102.3% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,562 shares of the biopharmaceutical company’s stock valued at $103,000 after buying an additional 790 shares in the last quarter. Institutional investors own 96.97% of the company’s stock.

Insider Activity at Incyte

In other Incyte news, EVP Vijay K. Iyengar sold 6,043 shares of Incyte stock in a transaction on Friday, November 29th. The shares were sold at an average price of $75.38, for a total value of $455,521.34. Following the completion of the sale, the executive vice president now directly owns 30,658 shares of the company’s stock, valued at approximately $2,311,000.04. The trade was a 16.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Thomas Tray sold 650 shares of the stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $70.64, for a total transaction of $45,916.00. Following the transaction, the insider now directly owns 23,962 shares in the company, valued at $1,692,675.68. This trade represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,695 shares of company stock worth $1,444,356 in the last 90 days. Corporate insiders own 17.60% of the company’s stock.

Incyte Price Performance

INCY stock opened at $74.13 on Friday. The company’s fifty day simple moving average is $71.80 and its 200 day simple moving average is $69.08. Incyte Co. has a 12-month low of $50.35 and a 12-month high of $83.95. The company has a quick ratio of 1.82, a current ratio of 1.87 and a debt-to-equity ratio of 0.01. The firm has a market cap of $14.28 billion, a price-to-earnings ratio of 529.54, a PEG ratio of 0.54 and a beta of 0.70.

Wall Street Analyst Weigh In

Several research analysts have commented on INCY shares. William Blair reissued an “outperform” rating on shares of Incyte in a research note on Friday, December 13th. BMO Capital Markets reiterated an “underperform” rating and set a $52.00 price objective (up from $48.00) on shares of Incyte in a research report on Wednesday, October 30th. Bank of America upgraded shares of Incyte from a “neutral” rating to a “buy” rating and raised their target price for the company from $68.00 to $90.00 in a research report on Tuesday, October 29th. Oppenheimer upped their price target on shares of Incyte from $81.00 to $82.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Cantor Fitzgerald reissued a “neutral” rating on shares of Incyte in a report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $75.71.

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.