Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Incyte Corp shares valued at $455,544 were sold by Iyengar Vijay K on Nov 29 ’24. At $75.38 per share, Iyengar Vijay K sold 6,043 shares. The insider’s holdings dropped to 30,658 shares worth approximately $2.29 million following the completion of this transaction.
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Also, VIJAY IYENGAR purchased 6,043 shares, netting a total of over 455,555 in proceeds.
Before that, Flannelly Barry P had sold 3,680 shares from its account. In a trade valued at $293,210, the EVP & General Manager US traded Incyte Corp shares for $79.68 each. Upon closing the transaction, the insider’s holdings decreased to 3,680 shares, worth approximately $4.33 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 drop of approximately -0.24%. Over the course of the year, Incyte Corp shares have jumped approximately 18.84%. Shares of the company reached a 52-week high of $83.95 on 11/08/24 and a 52-week low of $50.35 on 04/30/24. A 50-day SMA is recorded $71.09, while a 200-day SMA reached $62.67. Nevertheless, trading volume fell to 2.57 million shares from 3.35 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 73.53, which, if violated, would cause prices to drop to 72.44. In the upper region, resistance lies at 75.51. The next price resistance is at 76.41. RSI (Relative Strength Index) is 52.64 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.46, which suggests the price will decrease in the coming days. Percent R is at 37.82%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
