The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Incyte Corp shares valued at $36,002 were sold by Tray Thomas on Sep 12 ’24. At $62.94 per share, Tray Thomas sold 572 shares. The insider’s holdings dropped to 24,825 shares worth approximately $1.84 million following the completion of this transaction.
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Also, Tray Thomas sold 382 shares, netting a total of over 24,207 in proceeds. Following the sale of shares at $63.37 each, the insider now holds 24,443 shares.
Before that, Dickinson Jonathan Elliott had sold 8,450 shares from its account. In a trade valued at $526,948, the EVP, General Manager, Europe traded Incyte Corp shares for $62.36 each. Upon closing the transaction, the insider’s holdings decreased to 8,450 shares, worth approximately $2.7 million.
As published in a research note from BofA Securities on October 29, 2024, Incyte Corp [INCY] has been rated up from a Neutral to a Buy and the price target has been revised to $90 from $68. Analysts at Wolfe Research started covering the stock with ‘”an Outperform”‘ outlook in a report released in early October. As of September 18, 2024, Truist has decreased its “Buy” rating to a “Hold” for INCY. Earlier on July 02, 2024, BMO Capital Markets downgraded its rating. Their new recommendation was “an Underperform” for INCY stock which previously was a “a Market perform”.
Analyzing INCY Stock Performance
During the last five days, there has been a surge of approximately 13.61%. Over the course of the year, Incyte Corp shares have jumped approximately 18.04%. Shares of the company reached a 52-week high of $74.68 on 10/31/24 and a 52-week low of $50.35 on 04/30/24. A 50-day SMA is recorded $65.75, while a 200-day SMA reached $60.74. Nevertheless, trading volume fell to 2.01 million shares from 2.46 million shares the previous day.
Support And Resistance Levels for Incyte Corp (INCY)
According to the 24-hour chart, there is a support level at 73.38, which, if violated, would cause prices to drop to 72.63. In the upper region, resistance lies at 74.77. The next price resistance is at 75.42. RSI (Relative Strength Index) is 76.99 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 6.43, which suggests the price will increase in the coming days. Percent R is at 5.51%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
