SAC Capital Boosts Stake In Incyte Corporation (INCY) to 5.3%
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In a 13G filing after the close Friday on Incyte Corporation (Nasdaq: INCY), Steve Cohen's SAC Capital hedge fund disclosed a 5.3%, or 5,209,250 share, stake in the company. The firm held 1,000,000 shares of INCY at the quarter ended June 30, 2009. A 13G indicates a 'passive investment' above 5%.
Incyte Corporation, a drug discovery and development company, focuses on developing proprietary small molecule drugs to treat oncology, inflammation, and diabetes.
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