The cluster of two top R&D scientists selling simultaneously is unusual and could signal private concern about pipeline progress or upcoming data. Monitor for any near-term clinical trial readouts, regulatory updates, or a Form 8-K disclosing material pipeline changes. The historical calibration shows score-4 reports on INCY have a 52% observed up-move rate at T+20, so this is a modest signal — not a conviction short.
Price Chart
Executive Summary
Two top R&D executives at Incyte sold a combined $1.57M in stock over a 7-day window. President Pablo Cagnoni sold $1.30M and CSO Patrick Mayes sold $274K. While the dollar amount is modest relative to Incyte's $24.4B market cap (~0.006%), the cluster of two senior scientific officers selling within days of each other warrants attention, especially given the company's heavy reliance on pipeline catalysts.
Key Financial Metrics
Key Facts
- President & Global Head of R&D Pablo Cagnoni sold 10,803 shares at $120.04 for $1.30M on 2026-08-12
- EVP & Chief Scientific Officer Patrick Mayes sold 2,200 shares at $123.99 for $274K on 2026-08-05
- Total insider selling in cluster: $1.57M, representing ~0.006% of $24.4B market cap
- Both sellers are senior R&D executives, not routine diversifiers (e.g., directors or 10% owners)
- No open-market insider purchases occurred in the cluster window
Financial Impact
$1.57M in insider sales, negligible relative to $24.4B market cap
Risk Factors
- Sales may be pre-arranged 10b5-1 plans or routine diversification — not necessarily bearish
- No Form 4 filing details provided to confirm plan status or vesting schedules
- Incyte's analyst consensus is 52% bullish, suggesting market sentiment may diverge from insider behavior
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-INCY-1786774564279 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 14, 2026 7w ago | Insider Cluster | $120.16 $122.19 | ▼ −1.69% | ▼ −3.68% | $115.37 (+3.99%) |
Aug 7, 2026 7w ago | Insider Cluster | $121.55 $124.40 | ▲ +2.34% | ▲ +3.26% | $115.37 (−5.08%) |
Aug 4, 2026 8w ago | Insider Cluster | $120.60 $124.50 | ▲ +3.23% | ▲ +4.47% | $115.37 (−4.34%) |
Jul 28, 2026 9w ago | 8-K | $129.93 $129.72 | ▼ −0.16% | ▼ −3.54% | $115.37 (−11.21%) |
Jul 20, 2026 10w ago | Insider Cluster | $115.65 $123.50 | ▲ +6.79% | ▲ +2.67% | $115.37 (−0.24%) |
Jul 20, 2026 10w ago | Insider Cluster | $115.65 $123.50 | ▲ +6.79% | ▲ +2.67% | $115.37 (−0.24%) |
Jun 8, 2026 16w ago | 8-K | $100.64 $115.62 | ▲ +14.88% | ▲ +13.25% | $115.37 (+14.64%) |
May 27, 2026 18w ago | DEFA14A | $97.26 $108.46 | ▲ +11.52% | ▲ +13.82% | $115.37 (+18.63%) |
Feb 28, 2026 30w ago | Institutional Cluster | $99.73 $90.31 | ▼ −9.45% | ▼ −1.51% | $115.37 (+15.69%) |
US Market Status
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