Avoro Capital Advisors Reduces $15M in Incyte Corporation ($INCY)

Avoro Capital Advisors has exited its position in Incyte Corporation (NasdaqGS: INCY), according to its latest 13F filing with the SEC. The fund sold all 135,000 shares it previously held, marking a 100% reduction in its stake in the biopharmaceutical company.

What Changed in Avoro Capital Advisors' Incyte Corporation Position

Avoro Capital Advisors completely sold out of its position in Incyte Corporation, eliminating its previous holding of 135,000 shares. This move reflects a 100% decrease in their investment, with no shares remaining in the portfolio as of the end of the reporting period.

Other Institutional Activity in Incyte Corporation

Several other institutional investors also adjusted their positions in Incyte Corporation. Baker Bros. Advisors LP slightly increased its holdings by 421 shares, maintaining a total of 30,744,412 shares valued at approximately $2.89 billion. BlackRock, Inc. increased its stake by 650,275 shares, ending with 18,978,198 shares worth about $1.79 billion. Conversely, Dodge & Cox reduced its position by 1,009,386 shares, retaining 12,252,356 shares valued at $1.15 billion. Vanguard Capital Management LLC and Vanguard Portfolio Management LLC both significantly increased their holdings, each adding over 7 million shares.

Incyte Corporation Stock Snapshot

Shares of Incyte Corporation are trading around $107.31, with a market capitalization of about $21.68 billion. The company sports a P/E ratio of 15.33 and a forward P/E of 11.84, indicating potential growth. Incyte's beta is 0.79, suggesting lower volatility compared to the market. The stock's 52-week range spans from $66.74 to $112.29, with a 50-day moving average of $97.80 and a 200-day moving average of $96.50.

Recent Earnings

Incyte Corporation reported revenue of approximately $5.36 billion, reflecting a 20.9% growth. The company achieved a net margin of 26.7% and a return on equity of 30.8%. Earnings per share stood at $7.08. The next earnings report is expected on April 28, 2026.

Insider Buying and Selling at Incyte Corporation

Recently, several insiders purchased shares in Incyte Corporation. On June 8, 2026, Otis Brawley, Edmund Harrigan, Paul Clancy, Katherine High, and Jacqualyn Fouse each acquired 1,642 shares, while Otis Brawley and Katherine High also bought an additional 6,111 shares. These transactions were not part of a pre-planned trading plan.

Analysts Set New Price Targets

On June 9, 2026, HC Wainwright & Co. maintained its buy rating on Incyte Corporation and set a price target of $140. Bernstein initiated coverage with a hold rating and a $99 target on May 22, 2026. Meanwhile, Oppenheimer and Stifel both maintained their buy ratings with targets of $90 and $123, respectively.

About Incyte Corporation

Incyte Corporation is a biopharmaceutical company based in Wilmington, Delaware. It focuses on the discovery and development of therapeutics for various conditions, including myelofibrosis, leukemia, and other cancers. The company markets several products, including JAKAFI and ICLUSIG, and collaborates with partners like Novartis and Lilly. Led by CEO William J. Meury, Incyte employs over 2,800 people and operates in markets across the United States, Europe, Canada, and Japan.

Bottom Line

Avoro Capital Advisors' complete exit from Incyte Corporation highlights a significant shift in its portfolio strategy. Institutional investors closely monitor such moves for insights into market trends and potential investment opportunities. As always, 13F filings provide a backward-looking view, and the current position of Avoro may have changed since the report.