Baker Bros. Advisors INCY Position
Active6-Fund ConvergenceBaker Bros. Advisors increased their position in Incyte Corporation (INCY) in Q4 2025, holding $3.0B worth of shares across 30,743,991 shares.
The position was first reported in Q1 2023 and has been tracked across 12 quarterly 13F filings.
INCY is a convergence signal: 6 specialist biotech funds hold this stock, suggesting high institutional conviction.
There is an upcoming Phase 2 readout for retifanlimab in 0 days (Apr 14, 2026), making the timing of Baker Bros.'s position particularly relevant.
About Incyte Corporation
Incyte Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of proprietary therapeutics in the United States and internationally. The company offers JAKAFI, a drug for the treatment of myelofibrosis and polycythemia vera; PEMAZYRE, a fibroblast growth factor receptor kinase inhibitor that act as oncogenic drivers in various liquid and solid tumor types; and ICLUSIG, a kinase inhibitor to treat chronic myeloid leukemia and philadelphia-chromosome positive acute lymphoblastic leukemia. Its clinical stage products include ruxolitinib, a steroid-refractory chronic graft-versus-host-diseases (GVHD); itacitinib, which is in Phase II/III clinical trial to treat naive chronic GVHD; and pemigatinib for treating bladder cancer, cholangiocarcinoma, myeloproliferative syndrome, and tumor agnostic. In addition, the company engages in developing Parsaclisib, which is in Phase II clinical trial for follicular lymphoma, marginal zone lymphoma, and mantel cell lymphoma. Additionally, it develops Retifanlimab that is in Phase II clinical trials for MSI-high endometrial cancer, merkel cell carcinoma, and anal cancer, as well as in Phase II clinical trials for patients with non-small cell lung cancer. It has collaboration agreements with Novartis International Pharmaceutical Ltd.; Eli Lilly and Company; Agenus Inc.; Calithera Biosciences, Inc; MacroGenics, Inc.; Merus N.V.; Syros Pharmaceuticals, Inc.; Innovent Biologics, Inc.; Zai Lab Limited; Cellenkos, Inc.; and Nimble Therapeutics, as well as clinical collaborations with MorphoSys AG and Xencor, Inc. to investigate the combination of tafasitamab, plamotamab, and lenalidomide in patients with relapsed or refractory diffuse large B-cell lymphoma, and relapsed or refractory follicular lymphoma. The company was incorporated in 1991 and is headquartered in Wilmington, Delaware.
Full company profile →Short Interest
7.8%
7.1 days to cover
Baker Bros. Advisors INCY Position History
| Quarter | Action | Shares | Change | Value |
|---|---|---|---|---|
| Q4 2025 | Increased | 30,743,991 | +328 | $3.0B |
| Q3 2025 | Increased | 30,743,663 | +388 | $2.6B |
| Q2 2025 | Increased | 30,743,275 | +3,322 | $2.1B |
| Q1 2025 | Increased | 30,739,953 | +487 | $1.9B |
| Q4 2024 | Increased | 30,739,466 | +446 | $2.1B |
| Q3 2024 | Increased | 30,739,020 | +496 | $2.0B |
| Q2 2024 | Decreased | 30,738,524 | -5,441,141 | $1.9B |
| Q1 2024 | Increased | 36,179,665 | +543 | $2.1B |
| Q4 2023 | Increased | 36,179,122 | +556 | $2.3B |
| Q3 2023 | Increased | 36,178,566 | +510 | $2.1B |
| Q2 2023 | Increased | 36,178,056 | +2,656 | $2.3B |
| Q1 2023 | New | 36,175,400 | +36,175,400 | $2.6B |
Frequently Asked Questions
Does Baker Bros. Advisors own INCY?
Yes. As of Q4 2025, Baker Bros. Advisors holds 30,743,991 shares of Incyte Corporation (INCY) valued at $3.0B. This data comes from their SEC 13F filing.
How many hedge funds own INCY?
6 specialist biotech hedge funds currently hold INCY, including Avoro Capital Advisors, Driehaus Capital, Casdin Capital and 2 more. When 3 or more specialist funds hold the same stock, BiotechEdge flags it as a convergence signal.
When did Baker Bros. Advisors first buy INCY?
Baker Bros. Advisors's position in INCY was first reported in Q1 2023. 13F filings are reported with a 45-day delay, so the actual purchase may have occurred earlier in the quarter.
Is Baker Bros. Advisors's INCY position increasing or decreasing?
Baker Bros. Advisors increased their INCY position in the most recent quarter, adding 328 shares.
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