INCYTE CORP INCY
COM · Common Stock · CUSIP 45337C102 · ISIN US45337C1027
American pharmaceutical company
- SectorHealth care
- IndustryServices-Commercial Physical & Biological Research
- HeadquartersWilmington, DE
- Founded2001
- Websiteincyte.com
- FilingsSEC EDGAR
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($59.8m this quarter). Holder counts are more reliable. Shares outstanding: 196.3m as of 2025-10-21, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $84.71. Options: 16 managers hold calls ($59.1m notional), 15 hold puts ($56.5m).
Trends to Q3 2025
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 537 |
| Q4 2022 | 558 |
| Q1 2023 | 552 |
| Q2 2023 | 529 |
| Q3 2023 | 531 |
| Q4 2023 | 558 |
| Q1 2024 | 587 |
| Q2 2024 | 586 |
| Q3 2024 | 595 |
| Q4 2024 | 650 |
| Q1 2025 | 630 |
| Q2 2025 | 659 |
| Q3 2025 | 713 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q4 2023 | 268 | 257 |
| Q1 2024 | 295 | 255 |
| Q2 2024 | 292 | 288 |
| Q3 2024 | 244 | 332 |
| Q4 2024 | 324 | 271 |
| Q1 2025 | 316 | 304 |
| Q2 2025 | 356 | 298 |
| Q3 2025 | 383 | 295 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q4 2024 | $68.6m | $38.3m | 0.56 |
| Q1 2025 | $47.5m | $30.3m | 0.64 |
| Q2 2025 | $36.9m | $19.6m | 0.53 |
| Q3 2025 | $59.1m | $56.5m | 0.96 |
Biggest buyers
| LOS ANGELES CAPITAL MANAGEMENT LLC | Added | +1.4m |
| Pacer Advisors, Inc. | Added | +1.2m |
| Caisse de depot et placement du Quebec | Added | +1.1m |
| RENAISSANCE TECHNOLOGIES LLC | Added | +646.2k |
| ROYAL BANK OF CANADA | Added | +630.6k |
| PRICE T ROWE ASSOCIATES INC /MD/ | Added | +550.6k |
| Skandinaviska Enskilda Banken AB (publ) | Added | +531.7k |
| PANAGORA ASSET MANAGEMENT INC | Added | +476.0k |
| JACOBS LEVY EQUITY MANAGEMENT, INC | Added | +448.9k |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | Added | +373.3k |
Biggest sellers
| MARSHALL WACE, LLP | Reduced | -1.2m |
| SG Americas Securities, LLC | Reduced | -923.5k |
| Dodge & Cox | Reduced | -662.8k |
| JUPITER ASSET MANAGEMENT LTD | Reduced | -591.4k |
| Squarepoint Ops LLC | Reduced | -553.8k |
| BARCLAYS PLC | Reduced | -542.1k |
| Point72 Asset Management, L.P. | Reduced | -508.0k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | Reduced | -467.1k |
| Connor, Clark & Lunn Investment Management Ltd. | Reduced | -346.8k |
| D. E. Shaw & Co., Inc. | Reduced | -343.6k |
Biggest calls
| JANE STREET GROUP, LLC | Added | $14.3m168.3k shares |
| DIADEMA PARTNERS LP | New | $8.5m100.0k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $8.0m94.6k shares |
| MILLENNIUM MANAGEMENT LLC | Reduced | $6.8m80.0k shares |
| Caption Management, LLC | Added | $6.1m71.6k shares |
| CITADEL ADVISORS LLC | Added | $4.6m54.3k shares |
| GROUP ONE TRADING LLC | Added | $2.9m33.9k shares |
| BARCLAYS PLC | New | $2.3m27.0k shares |
| IMC-Chicago, LLC | Reduced | $1.9m22.1k shares |
| WOLVERINE TRADING, LLC | Added | $1.5m18.2k shares |
Biggest puts
| LMR Partners LLP | New | $17.0m200.0k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $13.2m155.1k shares |
| Caption Management, LLC | New | $7.2m84.6k shares |
| BANK OF AMERICA CORP /DE/ | New | $3.8m45.0k shares |
| JANE STREET GROUP, LLC | Added | $3.2m38.3k shares |
| BARCLAYS PLC | New | $2.3m27.0k shares |
| CITADEL ADVISORS LLC | Added | $2.2m26.4k shares |
| IMC-Chicago, LLC | Added | $1.8m21.6k shares |
| CANTOR FITZGERALD, L. P. | New | $1.7m20.3k shares |
| SIMPLEX TRADING, LLC | Added | $1.3m15.6k shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
BAKER BROS. ADVISORS LP
13D · may seek influence
-0.1 pts · filed 2026-05-11
Stated purposeItem 4 of Schedule 13D is supplemented and superseded, as the case may be, as follows: On May 8, 2026 the Adviser acquired beneficial ownership of 15,000 shares of common stock ("Common Stock") of Incyte Corporation (the "Issuer"), as a result of the exercise of 15,000 options to purchase Common Stock at $84.53 per share (the "Exercised Stock Options") held directly by Julian C. Baker. Julian C. Baker currently serves on the Issuer's board of directors (the "Board") as a representative of the Funds. The policy of the Funds and the Adviser does not permit managing members of the Adviser GP or full-time employees of the Adviser to receive compensation for serving as directors of the Issuer, and the Funds are instead entitled to the pecuniary interest in the Exercised Stock Options. Julian C… Full filing |
15.6% |
| BlackRock, Inc. 13G · institution filed 2025-10-17 | 7.8% |
| VANGUARD CAPITAL MANAGEMENT LLC 13G · institution new · filed 2026-04-30 | 6.3% |
| DODGE & COX 13G · institution filed 2026-05-14 | 6.2% |
Fell to 5% or below in the last year: VANGUARD GROUP INC (0.0%, 2026-03-27; now reported by VANGUARD CAPITAL MANAGEMENT LLC)
Insider purchases and sales in Q3 2025
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q4 2023 | 0 | — | 1 | $78.6k | $78.6k |
| Q1 2024 | 0 | — | 2 | $525.2k | $525.2k |
| Q2 2024 | 0 | — | 2 | $1.2m | $1.2m |
| Q3 2024 | 0 | — | 5 | $3.0m | $3.0m |
| Q4 2024 | 0 | — | 3 | $839.7k | $839.7k |
| Q1 2025 | 0 | — | 3 | $3.3m | $3.3m |
| Q2 2025 | 0 | — | 2 | $227.6k | $227.6k |
| Q3 2025 | 0 | — | 4 | $3.4m | $3.4m |
| Date | Insider | Trade | Value |
|---|---|---|---|
| 2025-09-16 | Denton Sheila A. EVP & General Counsel | Sold plan | $23.1k278 shares |
| 2025-09-02 | Denton Sheila A. EVP & General Counsel | Sold plan | $50.8k598 shares |
| 2025-08-15 | Denton Sheila A. EVP & General Counsel | Sold plan | $24.0k277 shares |
| 2025-08-04 | Denton Sheila A. EVP & General Counsel | Sold plan | $45.3k598 shares |
| 2025-07-21 | Stein Steven H EVP & Chief Medical Officer | Sold plan | $251.8k3.7k shares |
| 2025-07-16 | Flannelly Barry P EVP & General Manager US | Sold plan | $91.6k1.3k shares |
| 2025-07-16 | Iyengar Vijay K EVP, GMAPPS | Sold plan | $67.2k983 shares |
| 2025-07-16 | Denton Sheila A. EVP & General Counsel | Sold plan | $53.7k785 shares |
| 2025-07-15 | Denton Sheila A. EVP & General Counsel | Sold plan | $232.6k3.3k shares |
| 2025-07-15 | Flannelly Barry P EVP & General Manager US | Sold plan | $83.3k1.2k shares |
| 2025-07-15 | Iyengar Vijay K EVP, GMAPPS | Sold plan | $82.2k1.2k shares |
| 2025-07-14 | Stein Steven H EVP & Chief Medical Officer | Sold plan | $1.0m15.0k shares |
| 2025-07-03 | Flannelly Barry P EVP & General Manager US | Sold plan | $743.0k10.9k shares |
| 2025-07-03 | Iyengar Vijay K EVP, GMAPPS | Sold plan | $587.3k8.6k shares |
| 2025-07-02 | Denton Sheila A. EVP & General Counsel | Sold plan | $41.1k599 shares |
Their holding: how much the trade added to or took from the insider's holding (direct, or the trust or fund named). The same trade is sometimes reported by more than one insider, such as a fund and the director who represents it; totals count it once. A value is left blank where the reported price is far from the market price (usually a typo).
Holders, Q3 2025
| Manager | Shares | Change |
|---|---|---|
| BAKER BROS. ADVISORS LP 18.84% of their portfolio | 30.7m $2.6bn | Added +388 |
| VANGUARD GROUP INC 0.03% of their portfolio | 20.0m $1.7bn | Reduced -183.8k |
| BlackRock, Inc. 0.03% of their portfolio | 17.9m $1.5bn | Reduced -62.5k |
| Dodge & Cox 0.64% of their portfolio | 13.9m $1.2bn | Reduced -662.8k |
| STATE STREET CORP 0.03% of their portfolio | 9.7m $820.7m | Reduced -199.0k |
| AQR CAPITAL MANAGEMENT LLC 0.43% of their portfolio | 7.9m $667.6m | Reduced -277.9k |
| RENAISSANCE TECHNOLOGIES LLC 0.51% of their portfolio | 4.5m $384.0m | Added +646.2k |
| GEODE CAPITAL MANAGEMENT, LLC 0.02% of their portfolio | 4.5m $379.0m | Added +138.4k |
| LSV ASSET MANAGEMENT 0.75% of their portfolio | 4.0m $338.1m | Added +124.3k |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.17% of their portfolio | 3.1m $263.2m | Added +373.3k |
| Invesco Ltd. 0.04% of their portfolio | 3.1m $260.2m | Reduced -332.8k |
| MORGAN STANLEY 0.01% of their portfolio | 2.6m $224.0m | Added +46.0k |
| Robeco Institutional Asset Management B.V. 0.28% of their portfolio | 2.3m $196.7m | Reduced -66.9k |
| ACADIAN ASSET MANAGEMENT LLC 0.33% of their portfolio | 2.2m $190.0m | Reduced -237.7k |
| Man Group plc 0.32% of their portfolio | 1.9m $164.0m | Added +322.9k |
| LOS ANGELES CAPITAL MANAGEMENT LLC 0.51% of their portfolio | 1.8m $149.4m | Added +1.4m |
| JACOBS LEVY EQUITY MANAGEMENT, INC 0.59% of their portfolio | 1.7m $147.9m | Added +448.9k |
| NORTHERN TRUST CORP 0.02% of their portfolio | 1.7m $146.0m | Added +62.8k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.02% of their portfolio | 1.7m $145.6m | Added +45.6k |
| Legal & General Group Plc 0.03% of their portfolio | 1.7m $142.4m | Added +112.7k |
| DIMENSIONAL FUND ADVISORS LP 0.03% of their portfolio | 1.6m $135.4m | Added +208.2k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.03% of their portfolio | 1.5m $127.5m | Reduced -467.1k |
| Caisse de depot et placement du Quebec 0.23% of their portfolio | 1.5m $127.0m | Added +1.1m |
| ROYAL BANK OF CANADA 0.02% of their portfolio | 1.5m $126.0m | Added +630.6k |
| PANAGORA ASSET MANAGEMENT INC 0.51% of their portfolio | 1.5m $125.4m | Added +476.0k |
| UBS Group AG 0.02% of their portfolio | 1.5m $123.5m | Added +94.5k |
| Bellevue Group AG 2.54% of their portfolio | 1.4m $122.2m | Reduced -129.6k |
| BANK OF AMERICA CORP /DE/ 0.01% of their portfolio | 1.3m $112.7m | Added +335 |
| GOLDMAN SACHS GROUP INC 0.02% of their portfolio | 1.3m $109.8m | Added +268.0k |
| FMR LLC 0.01% of their portfolio | 1.3m $107.9m | Added +115.6k |
| VICTORY CAPITAL MANAGEMENT INC 0.06% of their portfolio | 1.3m $107.2m | Added +86.7k |
| Pacer Advisors, Inc. 0.27% of their portfolio | 1.2m $105.9m | Added +1.2m |
| ARMISTICE CAPITAL, LLC 3.11% of their portfolio | 1.2m $99.0m | Reduced -168.6k |
| DEUTSCHE BANK AG\ 0.03% of their portfolio | 1.2m $98.1m | Reduced -61.0k |
| Bank of New York Mellon Corp 0.02% of their portfolio | 1.0m $86.1m | Reduced -243.2k |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 895.4k $75.9m | Added +63.3k |
| Sound Shore Management Inc /CT/ 2.38% of their portfolio | 849.9k $72.1m | Reduced -290.2k |
| Pictet Asset Management Holding SA 0.07% of their portfolio | 826.3k $69.7m | Reduced -269.2k |
| Russell Investments Group, Ltd. 0.08% of their portfolio | 808.6k $68.4m | Added +225.2k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.01% of their portfolio | 781.3k $66.3m | Added +550.6k |
| VIRGINIA RETIREMENT SYSTEMS ET Al 0.42% of their portfolio | 768.3k $65.2m | Added +33.0k |
| FIRST TRUST ADVISORS LP 0.05% of their portfolio | 756.3k $64.1m | Reduced -4.9k |
| Candriam S.C.A. 0.33% of their portfolio | 753.3k $63.9m | Reduced -277.8k |
| CANADA PENSION PLAN INVESTMENT BOARD 0.04% of their portfolio | 695.8k $59.0m | Added +340.0k |
| RHUMBLINE ADVISERS 0.05% of their portfolio | 692.5k $58.7m | Reduced -8.2k |
| Glenmede Investment Management, LP 0.26% of their portfolio | 631.8k $53.6m | Added +7.4k |
| FEDERATED HERMES, INC. 0.09% of their portfolio | 586.6k $49.8m | Added +23.5k |
| AMERIPRISE FINANCIAL INC 0.01% of their portfolio | 584.8k $49.6m | Added +102.8k |
| Skandinaviska Enskilda Banken AB (publ) 0.19% of their portfolio | 571.2k $48.4m | Added +531.7k |
| CITIGROUP INC 0.03% of their portfolio | 560.0k $47.5m | Added +364.9k |
| California Public Employees Retirement System 0.03% of their portfolio | 555.1k $47.1m | Reduced -89.3k |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.12% of their portfolio | 531.5k $44.9m | Added +300.2k |
| FRANKLIN RESOURCES INC 0.01% of their portfolio | 524.5k $44.5m | Added +97.3k |
| Amundi 0.01% of their portfolio | 501.1k $43.7m | Reduced -112.1k |
| IEQ CAPITAL, LLC 0.13% of their portfolio | 495.1k $42.0m | Added +91.0k |
| SEI INVESTMENTS CO 0.04% of their portfolio | 492.7k $41.8m | Added +226.8k |
| BARCLAYS PLC 0.02% of their portfolio | 488.1k $41.4m | Reduced -542.1k |
| Point72 Asset Management, L.P. 0.09% of their portfolio | 477.1k $40.5m | Reduced -508.0k |
| Swiss National Bank 0.02% of their portfolio | 474.2k $40.2m | Reduced -23.7k |
| Andra AP-fonden 0.50% of their portfolio | 460.6k $39.1m | Added +89.8k |
| Sumitomo Mitsui Trust Group, Inc. 0.02% of their portfolio | 456.7k $38.7m | Added +6.3k |
| MACKENZIE FINANCIAL CORP 0.05% of their portfolio | 453.1k $38.4m | Added +90.9k |
| Nuveen, LLC 0.01% of their portfolio | 452.7k $38.4m | Reduced -45.3k |
| AMERICAN CENTURY COMPANIES INC 0.02% of their portfolio | 444.2k $37.7m | Added +366.0k |
| KBC Group NV 0.09% of their portfolio | 425.1k $36.1m | Reduced -224.9k |
| Mitsubishi UFJ Trust & Banking Corp 0.07% of their portfolio | 397.5k $33.7m | Reduced -18.1k |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.01% of their portfolio | 387.6k $32.9m | Added +108.6k |
| Swedbank AB 0.03% of their portfolio | 371.9k $31.5m | Reduced -239.4k |
| AXA Investment Managers S.A. 0.08% of their portfolio | 364.0k $30.9m | First filing |
| TEACHERS RETIREMENT SYSTEM OF THE STATE OF KENTUCKY 0.23% of their portfolio | 355.8k $30.2m | Reduced -68.7k |
| Woodline Partners LP 0.14% of their portfolio | 346.2k $29.4m | Reduced -57.7k |
| TODD ASSET MANAGEMENT LLC 0.59% of their portfolio | 345.0k $29.3m | Reduced -69.5k |
| Aware Super Pty Ltd as trustee of Aware Super 0.39% of their portfolio | 335.7k $28.5m | Added +273.8k |
| PRUDENTIAL FINANCIAL INC 0.03% of their portfolio | 326.7k $27.7m | Added +189.1k |
| BNP PARIBAS FINANCIAL MARKETS 0.02% of their portfolio | 324.4k $27.5m | Added +5.5k |
| Mitsubishi UFJ Asset Management Co., Ltd. 0.02% of their portfolio | 314.2k $26.6m | Added +4.0k |
| LPL Financial LLC 0.01% of their portfolio | 310.6k $26.3m | Added +285.6k |
| HSBC HOLDINGS PLC 0.01% of their portfolio | 287.9k $24.4m | Reduced -81.4k |
| MACQUARIE GROUP LTD 0.03% of their portfolio | 286.7k $24.3m | Added +109.4k |
| LORD, ABBETT & CO. LLC 0.07% of their portfolio | 270.0k $22.9m | New |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.02% of their portfolio | 255.8k $21.7m | Added +5.0k |
| Grantham, Mayo, Van Otterloo & Co. LLC 0.06% of their portfolio | 248.8k $21.1m | Reduced -56.8k |
| Empowered Funds, LLC 0.21% of their portfolio | 248.8k $21.1m | Added +119.2k |
| CAPITAL FUND MANAGEMENT S.A. 0.20% of their portfolio | 241.9k $20.5m | Reduced -84.8k |
| LBP AM SA 0.25% of their portfolio | 238.7k $20.2m | Added +60.0k |
| Gotham Asset Management, LLC 0.09% of their portfolio | 234.4k $19.9m | Added +46.6k |
| APG Asset Management N.V. 0.05% of their portfolio | 232.5k $16.8m | Reduced -1.5k |
| Korea Investment CORP 0.04% of their portfolio | 229.3k $19.4m | Added +150.3k |
| WINTON GROUP Ltd 0.71% of their portfolio | 224.5k $19.0m | Added +213.6k |
| Illinois Municipal Retirement Fund 0.24% of their portfolio | 222.8k $18.9m | Reduced -15.1k |
| PRINCIPAL FINANCIAL GROUP INC 0.01% of their portfolio | 215.3k $18.3m | Added +7.6k |
| AustralianSuper Pty Ltd 0.09% of their portfolio | 213.2k $18.1m | New |
| SECTOR GAMMA AS 4.31% of their portfolio | 205.1k $17.4m | Added +1.1k |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 204.2k $17.3m | Added +121.0k |
| ALLIANCEBERNSTEIN L.P. 0.01% of their portfolio | 203.4k $17.2m | Reduced -29.6k |
| Cerity Partners LLC 0.03% of their portfolio | 203.0k $17.2m | Added +38.7k |
| CWM, LLC 0.05% of their portfolio | 196.5k $16.7m | Added +65.3k |
| Universal- Beteiligungs- und Servicegesellschaft mbH 0.03% of their portfolio | 188.4k $16.0m | Added +17.4k |
| KLP KAPITALFORVALTNING AS 0.06% of their portfolio | 186.3k $15.8m | Added +54.6k |
| ROYAL LONDON ASSET MANAGEMENT LTD 0.03% of their portfolio | 185.4k $15.7m | Reduced -683 |