Incyte Corporation (INCY) Moves Lower on Volume Spike for January 11

Equities Staff |

Incyte Corporation (INCY) traded on unusually high volume on Jan. 11, as the stock lost 3.68% to close at $93.06. On the day, Incyte Corporation saw 3.22 million shares trade hands on 23,881 trades. Considering that the stock averages only a daily volume of 1.47 million shares a day over the last month, this represents a pretty significant bump in volume over the norm.

Generally speaking, when a stock experiences a sudden spike in trading volume, it may be seen as a bullish signal for investors. An increase in volume means more market awareness for the company, potentially setting up a more meaningful move in stock price. The added volume also provides a level of support and stability for price advances.

The stock has traded between $153.15 and $92.91 over the last 52-weeks, its 50-day SMA is now $100.18, and its 200-day SMA $119.36. Incyte Corporation has a P/B ratio of 11.17.

Incyte Corp is a biopharmaceutical company. It discovers, develops and commercializes proprietary therapeutics. Its product JAKAFI, a JAK1 and JAK2 inhibitor is used for treatment of patients with intermediate or high risk myelofibrosis.

Headquartered in Wilmington, DE, Incyte Corporation has 980 employees and is currently under the leadership of CEO Herve Hoppenot.

For a complete fundamental analysis analysis of Incyte Corporation, check out Equities.com’s Stock Valuation Analysis report for INCY.

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To get more information on Incyte Corporation and to follow the company’s latest updates, you can visit the company’s profile page here: INCY’s Profile. For more news on the financial markets and emerging growth companies, be sure to visit Equities.com’s Newsdesk. Also, don’t forget to sign-up for our daily email newsletter to ensure you don’t miss out on any of our best stories.

All data provided by QuoteMedia and was accurate as of 4:30PM ET.



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