Baker Brothers buy more shares of Incyte

By Lisa Kerner

Charlotte, N.C., Feb. 1 - Baker Brothers Investments II, LP upped their stake in Incyte Corp. to 14.4% from 12.5% with the purchase of an additional 50,514 shares of the company's stock.

The shares were purchased on Jan. 14 and Jan. 22, priced from $10.62 to $10.98 each, according to a schedule 13D filing with the Securities and Exchange Commission.

The reporting persons beneficially own 12,597,883 shares, including shares that may be acquired upon conversion of 3.5% convertible subordinated notes due 2011 at the conversion price of $11.2185 and shares that may be acquired upon exercise of stock options.

Incyte is a biopharmaceutical company located in Wilmington, Del.

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