In a just published Form 13, filed with the US Securities and Exchange Commission (SEC),Incyte Corp (NASDAQ:INCY) reported that Baker Bros. Advisors has picked up 34,295,011 of common stock as of 2017-04-28.
The acquisition brings the aggregate amount owned by Baker Bros. Advisors to a total of 34,295,011 representing less than 16.7% stake in the company.
For those not familiar with the company, Incyte Corporation is a biopharmaceutical company focused on the discovery, development and commercialization of therapeutics. Its portfolio includes compounds in various stages, ranging from preclinical to late-stage development, and commercialized products, such as JAKAFI (ruxolitinib) and ICLUSIG (ponatinib). JAKAFI (ruxolitinib) is indicated for the treatment of patients with intermediate or high risk myelofibrosis (MF) and for the treatment of patients with polycythemia vera (PV) having had an inadequate response to or are intolerant of hydroxyurea. As of December 31, 2016, the Food and Drug Administration had granted JAKAFI orphan drug status for MF, PV and essential thrombocythemia. The primary target for ICLUSIG is B Cell Receptor-ABL, an abnormal tyrosine kinase that is expressed in chronic myeloid leukemia and Philadelphia-chromosome positive acute lymphoblastic leukemia. The Company also has a portfolio of selective janus associated kinases 1 (JAK1) inhibitors.
A glance at Incyte Corp (NASDAQ:INCY)’s key stats reveals a current market capitalization of 25.65 Billion based on 204.59 Million shares outstanding and a price at last close of $124.28 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2017-04-13, Bienaime picked up 1,000 at a purchase price of $139.66. This brings their total holding to 3,177 as of the date of the filing.
On the sell side, the most recent transaction saw Stein unload 5,000 shares at a sale price of $137.91. This brings their total holding to 14,648.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Incyte Corp (NASDAQ:INCY)
as things move forward to see if its progress aligns with these transactions.
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