Chevy Chase Trust Holdings LLC Acquires 619 Shares of Incyte Corporation $INCY

Chevy Chase Trust Holdings LLC increased its position in shares of Incyte Corporation (NASDAQ:INCY) by 0.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 84,860 shares of the biopharmaceutical company’s stock after buying an additional 619 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Incyte were worth $5,779,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Banque Transatlantique SA bought a new position in shares of Incyte during the first quarter worth about $26,000. Hilltop National Bank bought a new position in shares of Incyte during the second quarter worth about $37,000. SVB Wealth LLC bought a new position in shares of Incyte during the first quarter worth about $39,000. Geneos Wealth Management Inc. grew its holdings in shares of Incyte by 350.0% during the first quarter. Geneos Wealth Management Inc. now owns 756 shares of the biopharmaceutical company’s stock worth $46,000 after buying an additional 588 shares in the last quarter. Finally, WPG Advisers LLC bought a new position in shares of Incyte during the first quarter worth about $47,000. 96.97% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on INCY shares. Stifel Nicolaus increased their price objective on Incyte from $110.00 to $115.00 and gave the stock a “buy” rating in a report on Monday, September 22nd. Zacks Research raised Incyte from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 10th. Wall Street Zen cut Incyte from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Citigroup increased their price target on Incyte from $88.00 to $103.00 and gave the company a “buy” rating in a research report on Wednesday, July 30th. Finally, Oppenheimer cut Incyte from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $84.79.

Incyte Stock Performance

NASDAQ:INCY opened at $86.17 on Tuesday. The stock has a market cap of $16.83 billion, a P/E ratio of 19.58, a PEG ratio of 0.68 and a beta of 0.73. The stock has a 50 day simple moving average of $85.34 and a 200 day simple moving average of $72.79. The company has a current ratio of 2.85, a quick ratio of 2.78 and a debt-to-equity ratio of 0.01. Incyte Corporation has a 1-year low of $53.56 and a 1-year high of $92.86.

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.