Bicycle Therapeutics plc (NASDAQ:BCYC) Shares Sold by Deep Track Capital LP

Deep Track Capital LP lessened its position in Bicycle Therapeutics plc (NASDAQ:BCYC - Free Report) by 64.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,276,081 shares of the company's stock after selling 2,271,920 shares during the period. Deep Track Capital LP owned approximately 1.85% of Bicycle Therapeutics worth $17,865,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Principal Financial Group Inc. purchased a new stake in Bicycle Therapeutics in the 3rd quarter valued at approximately $10,028,000. Jane Street Group LLC grew its holdings in Bicycle Therapeutics by 35.7% during the third quarter. Jane Street Group LLC now owns 20,180 shares of the company's stock worth $457,000 after acquiring an additional 5,310 shares during the period. JPMorgan Chase & Co. raised its position in Bicycle Therapeutics by 26.8% in the third quarter. JPMorgan Chase & Co. now owns 8,424 shares of the company's stock worth $191,000 after acquiring an additional 1,782 shares in the last quarter. Baker BROS. Advisors LP lifted its holdings in Bicycle Therapeutics by 15.8% in the fourth quarter. Baker BROS. Advisors LP now owns 10,885,357 shares of the company's stock valued at $152,395,000 after acquiring an additional 1,485,397 shares during the period. Finally, EntryPoint Capital LLC purchased a new stake in shares of Bicycle Therapeutics during the 4th quarter worth $614,000. Hedge funds and other institutional investors own 86.15% of the company's stock.

Analyst Ratings Changes

Several analysts recently commented on BCYC shares. B. Riley reduced their price objective on shares of Bicycle Therapeutics from $17.00 to $14.00 and set a "neutral" rating for the company in a research note on Friday, May 2nd. HC Wainwright reaffirmed a "buy" rating and issued a $33.00 price objective on shares of Bicycle Therapeutics in a research note on Wednesday, February 26th. Royal Bank of Canada decreased their target price on Bicycle Therapeutics from $35.00 to $32.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Stephens restated an "equal weight" rating and issued a $15.00 price target on shares of Bicycle Therapeutics in a research report on Wednesday, January 22nd. Finally, JMP Securities decreased their price objective on shares of Bicycle Therapeutics from $26.00 to $22.00 and set a "market outperform" rating on the stock in a research report on Friday, May 2nd. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $25.00.

Bicycle Therapeutics Price Performance

BCYC traded up $0.16 during trading on Friday, hitting $8.34. The company's stock had a trading volume of 497,925 shares, compared to its average volume of 400,514. Bicycle Therapeutics plc has a twelve month low of $6.10 and a twelve month high of $28.67. The firm's 50 day moving average price is $8.44 and its 200-day moving average price is $13.84. The stock has a market cap of $577.14 million, a PE ratio of -2.53 and a beta of 1.60.

Bicycle Therapeutics (NASDAQ:BCYC - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported ($0.88) earnings per share for the quarter, missing the consensus estimate of ($0.86) by ($0.02). Bicycle Therapeutics had a negative return on equity of 27.35% and a negative net margin of 450.64%. The company had revenue of $9.98 million for the quarter, compared to analysts' expectations of $8.67 million. Equities analysts anticipate that Bicycle Therapeutics plc will post -3.06 earnings per share for the current year.

Bicycle Therapeutics Profile

Bicycle Therapeutics plc, a clinical-stage biopharmaceutical company, develops a class of medicines for diseases that are underserved by existing therapeutics in the United States and the United Kingdom. Its product pipeline comprising BT8009, a bicycle toxin conjugate (BTC) which is in phase I/II/III clinical trial for the treatment of high nectin-4 expressing tumors; BT5528, a BTC which is in phase I/II clinical trial for the treatment of Ephrin type A receptor 2 expressing tumor; BT7480, a Bicycle TICA molecule which is in phase I/II targeting Nectin-4 and agonizing CD137; and BT7455, a Bicycle TICA molecule targeting Ephrin type A receptor 2 and CD137 and is in preclinical trial.