3,893 Shares in Incyte Co. (NASDAQ:INCY) Purchased by Pinnacle Financial Partners Inc.
Pinnacle Financial Partners Inc. purchased a new stake in shares of Incyte Co. (NASDAQ:INCY) in the 2nd quarter, Holdings Channel reports. The fund purchased 3,893 shares of the biopharmaceutical company’s stock, valued at approximately $331,000.
A number of other large investors have also recently added to or reduced their stakes in INCY. Geode Capital Management LLC increased its holdings in shares of Incyte by 7.6% during the fourth quarter. Geode Capital Management LLC now owns 2,360,606 shares of the biopharmaceutical company’s stock worth $149,854,000 after buying an additional 166,510 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Incyte by 15.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 333,420 shares of the biopharmaceutical company’s stock valued at $21,200,000 after acquiring an additional 45,496 shares during the last quarter. Janney Montgomery Scott LLC boosted its holdings in shares of Incyte by 2.2% in the 1st quarter. Janney Montgomery Scott LLC now owns 10,157 shares of the biopharmaceutical company’s stock worth $874,000 after acquiring an additional 221 shares in the last quarter. Janus Henderson Group PLC grew its position in Incyte by 146.8% during the 1st quarter. Janus Henderson Group PLC now owns 109,697 shares of the biopharmaceutical company’s stock worth $9,435,000 after acquiring an additional 65,241 shares during the last quarter. Finally, Alps Advisors Inc. bought a new stake in Incyte during the 1st quarter worth approximately $408,000. Hedge funds and other institutional investors own 92.65% of the company’s stock.
Shares of NASDAQ INCY traded up $1.23 during mid-day trading on Wednesday, hitting $79.14. The company’s stock had a trading volume of 36,350 shares, compared to its average volume of 1,035,952. Incyte Co. has a one year low of $57.00 and a one year high of $89.30. The company’s fifty day simple moving average is $81.66 and its 200-day simple moving average is $81.84. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.61 and a quick ratio of 5.59. The stock has a market cap of $16.98 billion, a price-to-earnings ratio of 96.35 and a beta of 1.09.
Several equities analysts have issued reports on the company. BidaskClub downgraded Incyte from a “buy” rating to a “hold” rating in a research report on Wednesday, August 28th. JPMorgan Chase & Co. restated a “buy” rating and issued a $91.00 target price on shares of Incyte in a research note on Wednesday, July 31st. JMP Securities upgraded Incyte from a “market perform” rating to an “outperform” rating and set a $107.00 target price for the company in a research note on Thursday, September 5th. Nomura lifted their price target on Incyte from $100.00 to $111.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, Piper Jaffray Companies reiterated a “buy” rating on shares of Incyte in a research report on Monday, June 17th. One analyst has rated the stock with a sell rating, ten have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. Incyte has a consensus rating of “Buy” and an average price target of $91.63.
In related news, EVP Steven H. Stein sold 8,357 shares of the stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $87.96, for a total value of $735,081.72. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Paula J. Swain sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $80.96, for a total transaction of $202,400.00. Following the transaction, the executive vice president now owns 44,112 shares of the company’s stock, valued at approximately $3,571,307.52. The disclosure for this sale can be found here. Insiders have sold a total of 118,540 shares of company stock valued at $9,829,776 in the last ninety days. Company insiders own 17.10% of the company’s stock.
Incyte Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of various therapeutics in the United States. The company offers JAKAFI, a drug for the treatment of myelofibrosis and polycythemia vera cancers; and Iclusig, a kinase inhibitor to treat chronic myeloid leukemia and philadelphia-chromosome positive acute lymphoblastic leukemia.
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