Incyte Corporation (INCY) : The traders have covered their outstanding shorts in Incyte Corporation (INCY) to the tune of -59,783 shares, a change of -1.2%. As on Jul 29, 2016, the outstanding shorts on the stock were 4,846,766 shares, however, by August 15, 2016, the shorts had reduced to 4,786,983 shares. The covering shows that the traders dont believe that a large downside exists in the stock from current levels. The open short positions equal 2.6% of the free float of the stock. It takes 4 days to cover the outstanding short positions. The stock has an average daily volume of 1,150,409 shares. The short interest information was released on Wednesday Aug 24th after the market close.
Incyte Corporation (NASDAQ:INCY): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $81.55 and $81.55 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $87.98. The buying momentum continued till the end and the stock did not give up its gains. It closed at $82.44, notching a gain of 0.66% for the day. The total traded volume was 3,333,039 . The stock had closed at $81.90 on the previous day.
In a related news, The Securities and Exchange Commission has divulged that Huber Reid M, officer (EVP, Chief Scientific Officer) of Incyte Corp, had unloaded 10,000 shares at an average price of $87.96 in a transaction dated on August 2, 2016. The total value of the transaction was worth $879,600.
Incyte Corporation is a biopharmaceutical company focused on the discovery development and commercialization of small molecule drugs to treat serious unmet medical needs. The Companys compound JAKAFI (ruxolitinib) also known as INCB18424 and INC424 is an oral Janus associated kinase (JAK) inhibitor used for the treatment for patients with intermediate or highrisk myelofibrosis (MF) including primary MF postpolycythemia vera MF and postessential thrombocythemia MF. The Company has a second oral JAK1 and JAK2 inhibitor LY3009104 (INCB28050) , which is subject to a collaboration agreement with Eli Lilly and Company in , which Lilly received development and commercialization rights f