Incyte

INCY • NASDAQ

Incyte is a biotechnology company in the healthcare sector on NASDAQ, led by Hervé Hoppenot, with a market cap of $18.7B. As of Q3 2025, 101% of shares are held by 690 institutional investors, with BAKER BROS. ADVISORS LP as the largest holder at 15.74%.

Chief Executive OfficerHervé Hoppenot

Market Cap$18.7B

Biotechnology

Healthcare

Employees2.5K

Websiteincyte.com

Country

United States of America

Overview

Overview of institutional ownership in INCY as of Q3 2025 with a market cap of $16.6B

All Institutions

Institutions: 690
Value Held: $16.7B
Shares Held: 197.2M
Avg Position: $24.2M
Median Position: $959.5K

Hedge Funds

Hedge Funds: 54
Value Held: $4.5B
Shares Held: 53.5M
Avg Position: $83.9M
Median Position: $2.2M

Ownership Breakdown

Institutional (non-HF)

73.55%

$12.2B

Hedge Funds

27.34%

$4.5B

Retail & Other

Based on market cap of $16.6B as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in INCY as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
B BAKER BROS. ADVISORS LP Hedge Fund•Sector	Scott Lawrence Lessing President	$2.6B 24.14% of portfolio	15.74% 30.7M shares	≤ Q2 2013 Held for 12y 5m+	$10.8B
VANGUARD GROUP INC Institution	Salim Ramji CEO	$1.7B 0.03% of portfolio	10.22% 20.0M shares	≤ Q2 2013 Held for 12y 5m+	$6.69T
B BlackRock, Inc. Institution	-	$1.5B 0.03% of portfolio	9.16% 17.9M shares	≤ Q2 2013 Held for 12y 5m+	$5.67T
DODGE & COX Long Only Manager	Dana Morton Emery CEO	$1.2B 0.64% of portfolio	7.13% 13.9M shares	Q4 2018 Held for 6y 11m	$185.33B
STATE STREET CORP Institution	Ronald P. O'Hanley CEO	$820.7M 0.03% of portfolio	4.96% 9.7M shares	≤ Q2 2013 Held for 12y 5m+	$2.88T
AQR CAPITAL MANAGEMENT LLC Hedge Fund•Multi-Strategy	David Gary Kabiller Founder	$667.6M 0.43% of portfolio	4.06% 7.9M shares	≤ Q2 2013 Held for 12y 5m+	$156.17B
RENAISSANCE TECHNOLOGIES LLC Hedge Fund•Quant	Peter Fitzhugh Brown CEO	$384.0M 0.51% of portfolio	2.32% 4.5M shares	Q4 2017 Held for 7y 11m	$75.8B
GEODE CAPITAL MANAGEMENT LLC ETF Provider	David Kenneth Lane CEO	$379.0M 0.02% of portfolio	2.30% 4.5M shares	≤ Q2 2013 Held for 12y 5m+	$1.57T
L LSV ASSET MANAGEMENT Long Only Manager	Josef Nmn Lakonishok CEO	$338.1M 0.75% of portfolio	2.04% 4.0M shares	Q2 2022 Held for 3y 5m	$45.1B
ARROWSTREET CAPITAL LIMITED PARTNERSHIP Hedge Fund•Quant	Anthony Ryan CEO	$263.2M 0.17% of portfolio	1.59% 3.1M shares	Q4 2024 Held for 11 months	$158.92B

Net Capital Flow

Institutional buying and selling activity for INCY in Q3 2025

Traded: +$576.9M
Buyers: 388
Sellers: 278
Total Bought: +$1.5B
Total Sold: −$914.6M
Avg Position: $22.3M

Biggest Buyers

Institution	Net Bought	Current Position
LOS ANGELES CAPITAL MANAGEMENT & EQUITY RESEARCH INC Long Only Manager	+$122.8M +1.4M shares	$149.4M 1.8M shares
P Pacer Advisors, Inc. Institution	+$104.6M +1.2M shares	$105.9M 1.2M shares
CAISSE DE DEPOT ET PLACEMENT DU QUEBEC Fund of Funds	+$92.2M +1.1M shares	$127.0M 1.5M shares
R ROYAL BANK OF CANADA Institution	+$89.7M +1.1M shares	$126.0M 1.5M shares
RENAISSANCE TECHNOLOGIES LLC Hedge Fund•Quant	+$54.8M +646.2K shares	$384.0M 4.5M shares
V VIRGINIA RETIREMENT SYSTEMS ET AL Institution	+$54.4M +641.5K shares	$65.2M 768.3K shares
PRICE T ROWE ASSOCIATES INC /MD/ Long Only Manager	+$46.7M +550.6K shares	$66.3M 781.3K shares
S Skandinaviska Enskilda Banken AB Institution	+$45.1M +531.7K shares	$48.4M 571.2K shares
PANAGORA ASSET MANAGEMENT INC Hedge Fund•Quant	+$40.4M +476.0K shares	$125.4M 1.5M shares
JACOBS LEVY EQUITY MANAGEMENT, INC Hedge Fund•Quant	+$38.1M +448.9K shares	$147.9M 1.7M shares

Biggest Sellers

Institution	Net Sold	Current Position
DODGE & COX Long Only Manager	−$56.2M −662.8K shares	$1.2B 13.9M shares
JUPITER ASSET MANAGEMENT LTD Long Only Manager	−$50.2M −591.4K shares	$14.1M 166.6K shares
BARCLAYS PLC Institution	−$46.0M −542.1K shares	$41.4M 488.1K shares
Point72 Asset Management, L.P. Hedge Fund•Multi-Strategy	−$43.1M −508.0K shares	$40.5M 477.1K shares
UBS GLOBAL ASSET MANAGEMENT AMERICAS INC Long Only Manager	−$39.6M −467.1K shares	$127.5M 1.5M shares
JPMORGAN CHASE & CO Institution	−$32.6M −384.4K shares	$38.0M 447.7K shares
Connor, Clark & Lunn Investment Management Ltd. Long Only Manager	−$29.4M −346.8K shares	$9.4M 111.4K shares
D D. E. Shaw & Co., Inc. Institution	−$29.1M −343.6K shares	$5.4M 63.8K shares
Invesco Ltd. ETF Provider	−$28.2M −332.8K shares	$260.2M 3.1M shares
Schonfeld Strategic Advisors LLC Hedge Fund•Multi-Strategy	−$26.1M −307.9K shares	$10.3M 121.4K shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited INCY in Q3 2025

New Positions: 53
New Value: $28.8M
Exited Positions: 60
Exited Value: $75.1M

New Positions

Institution	Position Value
SAWGRASS ASSET MANAGEMENT LLC Long Only Manager	$8.4M 99.2K shares
Ambassador Advisors, LLC RIA/Wealth	$4.5M 52.5K shares
G Genus Capital Management Inc. Institution	$2.4M 28.5K shares
Family Management Corp RIA/Wealth	$2.2M 25.4K shares
F Financiere des Professionnels - Fonds d,investissement inc. Institution	$1.5M 17.5K shares
O ODDO BHF ASSET MANAGEMENT SAS Institution	$1.2M 14.2K shares
I Impact Partnership Wealth, LLC RIA/Wealth	$743.2K 8.8K shares
Lifeworks Advisors, LLC RIA/Wealth	$664.8K 7.8K shares
Caerus Investment Advisors, LLC Venture Capital	$663.0K 7.8K shares
QRG CAPITAL MANAGEMENT, INC. Long Only Manager	$521.3K 6.1K shares

Exited Positions

Institution	Previous Position
R READYSTATE ASSET MANAGEMENT LP Hedge Fund•Multi-Strategy	$6.9M 102.0K shares
C Cubist Systematic Strategies, LLC Institution	$6.2M 91.4K shares
A AXA Institution	$5.8M 85.5K shares
S South Dakota Investment Council Institution	$5.6M 82.4K shares
J Jump Financial, LLC Institution	$5.4M 79.3K shares
Symphony Financial, Ltd. Co. RIA/Wealth	$5.3M 77.9K shares
O ONTARIO TEACHERS PENSION PLAN BOARD Institution	$4.9M 72.7K shares
VOLORIDGE INVESTMENT MANAGEMENT, LLC Hedge Fund•Multi-Strategy	$4.2M 61.5K shares
FIRST FINANCIAL BANKSHARES INC Institution	$3.9M 58.0K shares
L LGT Fund Management Co Ltd. Institution	$3.6M 52.2K shares

Options Activity

Institutions with the largest Call and Put options positions in INCY as of Q3 2025

Call Positions: 16
Call Value: $53.2M
Put Positions: 15
Put Value: $53.1M

Call Positions

Institution	Position Value
J JANE STREET GROUP, LLC Institution	$14.3M 1.7K contracts
DIADEMA PARTNERS LP Hedge Fund•Long/Short	$8.5M 1.0K contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$8.0M 946.0 contracts
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	$6.8M 800.0 contracts
Caption Management, LLC Hedge Fund•Long/Short	$6.1M 716.0 contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$4.6M 543.0 contracts
BARCLAYS PLC Institution	$2.3M 270.0 contracts
W WOLVERINE TRADING, LLC Institution	$1.5M 182.0 contracts
Point72 Asset Management, L.P. Hedge Fund•Multi-Strategy	$670.0K 79.0 contracts
S SIG BROKERAGE, LP Institution	$254.4K 30.0 contracts

Put Positions

Institution	Position Value
L LMR Partners LLP Institution	$17.0M 2.0K contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$13.2M 1.6K contracts
Caption Management, LLC Hedge Fund•Long/Short	$7.2M 846.0 contracts
BANK OF AMERICA CORP /DE/ Institution	$3.8M 450.0 contracts
J JANE STREET GROUP, LLC Institution	$3.2M 383.0 contracts
BARCLAYS PLC Institution	$2.3M 270.0 contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$2.2M 264.0 contracts
C CANTOR FITZGERALD, L. P. Institution	$1.7M 203.0 contracts
W WOLVERINE TRADING, LLC Institution	$1.1M 127.0 contracts
Point72 Asset Management, L.P. Hedge Fund•Multi-Strategy	$670.0K 79.0 contracts

Most Committed Institutions

Institutions with INCY as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
B BAKER BROS. ADVISORS LP Hedge Fund•Sector	Scott Lawrence Lessing President	24.14% $2.6B	15.74% 30.7M shares	≤ Q2 2013 Held for 12y 5m+	$10.8B
N Nan Fung Group Holdings Ltd Institution	-	9.23% $5.0M	0.03% 59.0K shares	Q4 2021 Held for 3y 11m	$54.3M
S SECTOR GAMMA AS Institution	-	4.31% $17.4M	0.11% 205.1K shares	Q3 2018 Held for 7y 2m	$403.3M
ARMISTICE CAPITAL, LLC Hedge Fund•Long/Short	Steven Joseph Boyd Managing Partner	3.14% $99.0M	0.60% 1.2M shares	Q2 2018 Held for 7y 5m	$3.2B
B Bellevue Group AG Institution	-	2.54% $122.2M	0.74% 1.4M shares	Q1 2016 Held for 9y 8m	$4.8B
SHIKIAR ASSET MANAGEMENT INC RIA/Wealth	Stuart Alan Shikiar CEO	2.41% $8.1M	0.05% 96.0K shares	Q1 2023 Held for 2y 8m	$337.6M
SOUND SHORE MANAGEMENT INC /CT/ Long Only Manager	Theodore Gibbs Kane Chairman	2.38% $72.1M	0.44% 849.9K shares	Q3 2024 Held for 1y 2m	$3.0B
L Long Corridor Asset Management Ltd Institution	-	2.18% $4.2M	0.03% 50.0K shares	Q4 2024 Held for 11 months	$194.5M
A AIMZ Investment Advisors, LLC RIA/Wealth	Jonathan Gideon Riley Managing Partner	1.78% $5.7M	0.03% 67.0K shares	Q3 2021 Held for 4y 2m	$318.7M
D DCF Advisers, LLC Institution	-	1.66% $3.5M	0.02% 41.5K shares	Q4 2019 Held for 5y 11m	$212.2M

Hedge Fund Spotlight

Discover hedge funds investing in INCY

Casdin Capital, LLC

Hedge Fund • Sector

Portfolio ManagerEli D Casdin

Portfolio Value: $1.2B
Positions: 30
Last Reported: Q3 2025

Sector Allocation

Position in Incyte

Market Value: $8.5M
Shares Held: 100.0K
Portfolio Weight: 0.73%
Owned Since: 2025-Q3

Top Holding	Sector	Market Value	Weight
1 GeneDx Holdings WGS	Medical - Healthcare Information Services Healthcare	$324.0M	28.05%
2 BioLife Solutions BLFS	Medical - Instruments & Supplies Healthcare	$171.1M	14.81%
3 Revolution Medicines, Inc. RVMD	Biotechnology Healthcare	$123.6M	10.70%