Incyte Corp.’s recently made public that its EVP & Chief Medical Officer Stein Steven H unloaded Company’s shares for reported $0.48 million on Jan 03 ’24. In the deal valued at $65.51 per share,7,365 shares were sold. As a result of this transaction, Stein Steven H now holds 90,218 shares worth roughly $5.14 million.
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Then, Iyengar Vijay K sold 657 shares, generating $42,705 in total proceeds. Upon selling the shares at $65.00, the EVP, GMAPPS now owns 43,412 shares.
Before that, Tray Thomas sold 1,067 shares. Incyte Corp. shares valued at $66,549 were divested by the Principal Accounting Officer at a price of $62.37 per share. As a result of the transaction, Tray Thomas now holds 23,436 shares, worth roughly $1.34 million.
Jefferies initiated its Incyte Corp. [INCY] rating to a Buy in a research note published on February 23, 2024; the price target was $81. A number of analysts have revised their coverage, including JMP Securities’s analysts, who decreased its forecast for the stock in mid February from “a Mkt outperform” to “a Mkt perform”. Leerink Partners also remained covering INCY and has increased its forecast on December 13, 2023 with a “an Outperform” recommendation from previously “Market perform” rating. Guggenheim revised its rating on December 04, 2023. It rated INCY as “a Buy” which previously was an “a Neutral”.
Price Performance Review of INCY
On Friday, Incyte Corp. [NASDAQ:INCY] saw its stock fall -1.28% to $56.98. Over the last five days, the stock has lost -2.38%. Incyte Corp. shares have fallen nearly -9.25% since the year began. Nevertheless, the stocks have fallen -21.15% over the past one year. While a 52-week high of $76.04 was reached on 01/04/24, a 52-week low of $50.27 was recorded on 02/08/24. SMA at 50 days reached $59.53, while 200 days put it at $60.10. A total of 1.19 million shares were traded, compared to the trading of 1.54 million shares in the previous session.
Levels Of Support And Resistance For INCY Stock
The 24-hour chart illustrates a support level at 56.63, which if violated will result in even more drops to 56.29. On the upside, there is a resistance level at 57.65. A further resistance level may holdings at 58.33. The Relative Strength Index (RSI) on the 14-day chart is 39.32, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.05, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 99.52%. Stochastics %K at 13.56% indicates the stock is a buying.
How much short interest is there in Incyte Corp.?
A steep rise in short interest was recorded in Incyte Corp. stocks on Feb 29, 2024, growing by 0.79 million shares to a total of 7.77 million shares. Yahoo Finance data shows the prior-month short interest on Jan 31, 2024 was 6.98 million shares. There was a rise of 10.17%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 4.15% of the overall stock float, the days-to-cover ratio (short ratio) rose to 4.45.
