Could Incyte Corporation (NASDAQ:INCY) Go Down After Its Newest Short Interest Report?

Incyte Corporation (NASDAQ:INCY) Logo

Investors sentiment decreased to 1.23 in 2019 Q2. Its down 0.67, from 1.9 in 2019Q1. It dropped, as 39 investors sold Incyte Corporation shares while 128 reduced holdings. 65 funds opened positions while 140 raised stakes. 188.94 million shares or 0.12% more from 188.70 million shares in 2019Q1 were reported.
Moreover, State Of Wisconsin Inv Board has 0.11% invested in Incyte Corporation (NASDAQ:INCY). Moreover, Amp Cap has 0.04% invested in Incyte Corporation (NASDAQ:INCY) for 88,314 shares. Rampart Invest Limited Liability owns 0.02% invested in Incyte Corporation (NASDAQ:INCY) for 2,068 shares. Motco holds 0% or 72 shares. Allsquare Wealth Mgmt Ltd Com invested in 0.01% or 133 shares. First Trust Advisors L P holds 0.3% or 1.86 million shares. Opus Point Prns Mgmt Limited Liability Com has 10,613 shares. Next Group accumulated 316 shares or 0% of the stock. Moreover, Boston Advisors Limited Co has 0.11% invested in Incyte Corporation (NASDAQ:INCY). Natixis accumulated 48,340 shares. Lau Associate Ltd Liability Corporation, a Delaware-based fund reported 12,532 shares. Goldman Sachs Group invested in 3.09 million shares or 0.08% of the stock. Ckw Group Inc holds 0% of its portfolio in Incyte Corporation (NASDAQ:INCY) for 200 shares. Manufacturers Life Insur The holds 0.1% of its portfolio in Incyte Corporation (NASDAQ:INCY) for 1.01 million shares. Allstate holds 0% or 3,035 shares.

The stock of Incyte Corporation (NASDAQ:INCY) registered a decrease of 7.49% in short interest. INCY’s total short interest was 6.55 million shares in September as published by FINRA. Its down 7.49% from 7.08 million shares, reported previously. With 1.31 million shares average volume, it will take short sellers 5 days to cover their INCY’s short positions.

The stock increased 0.40% or $0.31 during the last trading session, reaching $76.38. About 1.00 million shares traded. Incyte Corporation (NASDAQ:INCY) has risen 23.83% since September 13, 2018 and is uptrending. It has outperformed by 23.83% the S&P500.

Incyte Corporation focuses on the discovery, development, and commercialization of proprietary therapeutics in oncology in the United States and internationally. The company has market cap of $16.43 billion. It offers JAKAFI for the treatment of myelofibrosis and polycythemia vera cancers. It has a 53.75 P/E ratio. The companyÂ’s clinical stage products include ruxolitinib cream that is in Phase II clinical trial for the treatment of alopecia areata and atopic dermatitis; and baricitinib, which is in Phase III clinical trial for treatment of rheumatoid arthritis.

Incyte Corporation (NASDAQ:INCY) Ratings Coverage

Among 8 analysts covering Incyte (NASDAQ:INCY), 3 have Buy rating, 0 Sell and 5 Hold. Therefore 38% are positive. Incyte has $11100 highest and $7500 lowest target. $91.13’s average target is 19.31% above currents $76.38 stock price. Incyte had 15 analyst reports since April 2, 2019 according to SRatingsIntel. Morgan Stanley maintained it with “Equal-Weight” rating and $8200 target in Wednesday, July 31 report. The firm has “Buy” rating given on Wednesday, July 31 by Nomura. The firm earned “Outperform” rating on Thursday, September 5 by Oppenheimer. On Thursday, September 5 the stock rating was reinitiated by Morgan Stanley with “Equal-Weight”. The rating was reinitiated by JMP Securities with “Market Outperform” on Thursday, September 5. On Friday, May 3 the stock rating was downgraded by Barclays Capital to “Equal-Weight”.

More notable recent Incyte Corporation (NASDAQ:INCY) news were published by: Fool.com which released: “How Big Is Celgene’s Latest Good News? – The Motley Fool” on August 18, 2019, also Nasdaq.com with their article: “Notable ETF Inflow Detected – QQEW, I, CELG, INCY – Nasdaq” published on February 13, 2019, Nasdaq.com published: “Why Is Incyte (INCY) Down 4.2% Since Last Earnings Report? – Nasdaq” on August 29, 2019. More interesting news about Incyte Corporation (NASDAQ:INCY) were released by: Seekingalpha.com and their article: “New coverage – healthcare – Seeking Alpha” published on September 12, 2019 as well as Nasdaq.com‘s news article titled: “Should You Invest in the Invesco Dynamic Biotechnology & Genome ETF (PBE)? – Nasdaq” with publication date: August 29, 2019.

Incyte Corporation (NASDAQ:INCY) Institutional Positions Chart

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