Where Will Incyte Corporation (INCY) Stock Go Next After It Is Down 7.92% in a Week?

The market has been down on Incyte Corporation (INCY) stock recently. INCY gets a Bearish score from InvestorsObserver's Stock Sentiment Indicator.

Incyte Corporation has a Bearish sentiment reading. Find out what this means for you and get the rest of the rankings on INCY!

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What is Stock Sentiment?

In investing, sentiment generally means whether or not a given security is in favor with investors. It is typically a pretty short-term metric that relies entirely on technical analysis. That means it doesn’t incorporate anything to do with the health or profitability of the underlying company.

Price action is generally the best indicator of sentiment. For a stock to go up, investors must feel good about it. Similarly, a stock that is in a downtrend must be out of favor.

InvestorsObserver’s Sentiment Indicator considers price action and recent trends in volume. Increasing volumes often mean that a trend is strengthening, while decreasing volumes can signal that a reversal could come soon.

The options market is another place to get signals about sentiment. Since options allow investors to place bets on the price of a stock, we consider the ratio of calls and puts for stocks where options are available.

What's Happening With INCY Stock Today?

Incyte Corporation (INCY) stock is down -3.3% while the S&P 500 is up 0.19% as of 2:28 PM on Monday, Aug 10. INCY is lower by -$3.20 from the previous closing price of $96.93 on volume of 738,826 shares. Over the past year the S&P 500 has risen 16.46% while INCY is up 13.64%. INCY lost -$0.91 per share in the over the last 12 months.

To see InvestorsObserver's Sentiment Score for Incyte Corporation click here.

More About Incyte Corporation

Incyte focuses on the discovery and development of small-molecule drugs. The firm's lead drug, Jakafi, treats two types of rare blood cancer and graft versus host disease and is partnered with Novartis. Incyte's other marketed drugs include rheumatoid arthritis treatment Olumiant (licensed to Lilly), and oncology drugs Iclusig (chronic myeloid leukemia), Pemazyre (cholangiocarcinoma) and Tabrecta (lung cancer). Incyte's pipeline includes a broad array of oncology and dermatology programs.