This afternoon we watched Incyte drop -6.6% to a price of $69.27 per share. The Large-Cap Biotechnology company is now trading -13.33% below its average target price of $79.92. Analysts have set target prices ranging from $52.0 to $100.0 per share for Incyte, and have given the stock an average rating of buy.
Incyte's short interest — meaning the percentage of the share float that is being shorted — is lower than average at 4.7%. The stock's short ratio is 2.85. The company's insiders own 2.03% of its outstanding shares, which indicates a strong alignment between management and shareholder interests.
Another number to watch is the company's rate of institutional share ownership, which now stands at 97.6%. In conclusion, we believe there is positive market sentiment regarding Incyte.
Institutions Invested in Incyte
| Date Reported | Holder | Percentage | Shares | Value |
|---|---|---|---|---|
| 2024-09-30 | Baker Bros. Advisors, LP | 16% | 30,739,020 | $2,129,138,201 |
| 2024-09-30 | Vanguard Group Inc | 11% | 20,382,756 | $1,411,811,581 |
| 2024-12-31 | Blackrock Inc. | 9% | 16,510,467 | $1,143,597,486 |
| 2024-09-30 | Dodge & Cox Inc | 8% | 15,276,093 | $1,058,098,572 |
| 2024-09-30 | State Street Corporation | 5% | 10,551,279 | $730,834,333 |
| 2024-09-30 | Renaissance Technologies, LLC | 2% | 4,499,540 | $311,660,635 |
| 2024-09-30 | Geode Capital Management, LLC | 2% | 3,936,176 | $272,639,228 |
| 2024-09-30 | Invesco Ltd. | 2% | 3,574,638 | $247,597,298 |
| 2024-09-30 | LSV Asset Management | 2% | 2,923,410 | $202,489,991 |
| 2024-09-30 | AQR Capital Management, LLC | 1% | 2,701,723 | $187,134,841 |
