126,062 Shares in Bicycle Therapeutics PLC Sponsored ADR $BCYC Acquired by Acadian Asset Management LLC

Key Points

• Acadian Asset Management LLC acquired a new stake in Bicycle Therapeutics PLC, purchasing 126,062 shares valued at approximately $1,065,000 during the 1st quarter.
• Bicycle Therapeutics reported earnings of ($1.14) EPS, missing the consensus estimate of ($0.95), with revenues of $2.90 million falling short of expectations.
• Analysts have varied price targets for Bicycle Therapeutics, with ratings ranging from "outperform" to "equal weight," reflecting a consensus price target of $22.22 and overall “Moderate Buy” rating.

Acadian Asset Management LLC purchased a new position in shares of Bicycle Therapeutics PLC Sponsored ADR (NASDAQ:BCYC - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 126,062 shares of the company's stock, valued at approximately $1,065,000. Acadian Asset Management LLC owned about 0.18% of Bicycle Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Principal Financial Group Inc. lifted its position in shares of Bicycle Therapeutics by 55.3% during the first quarter. Principal Financial Group Inc. now owns 631,260 shares of the company's stock worth $5,359,000 after purchasing an additional 224,790 shares during the last quarter. Exchange Traded Concepts LLC lifted its position in shares of Bicycle Therapeutics by 90.3% during the first quarter. Exchange Traded Concepts LLC now owns 12,764 shares of the company's stock worth $108,000 after purchasing an additional 6,057 shares during the last quarter. Westfield Capital Management Co. LP lifted its position in shares of Bicycle Therapeutics by 1.8% during the first quarter. Westfield Capital Management Co. LP now owns 2,657,305 shares of the company's stock worth $22,561,000 after purchasing an additional 46,968 shares during the last quarter. Jefferies Financial Group Inc. bought a new position in shares of Bicycle Therapeutics during the first quarter worth about $3,471,000. Finally, Millennium Management LLC bought a new position in shares of Bicycle Therapeutics during the fourth quarter worth about $2,475,000. Institutional investors own 86.15% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on BCYC. Oppenheimer reaffirmed an "outperform" rating and set a $44.00 price target (down previously from $48.00) on shares of Bicycle Therapeutics in a research report on Monday, August 11th. Royal Bank Of Canada set a $27.00 target price on Bicycle Therapeutics and gave the company an "outperform" rating in a research note on Monday, August 11th. JMP Securities decreased their target price on Bicycle Therapeutics from $22.00 to $10.00 and set a "market outperform" rating for the company in a research note on Tuesday, August 12th. Finally, Morgan Stanley decreased their target price on Bicycle Therapeutics from $17.00 to $13.00 and set an "equal weight" rating for the company in a research note on Tuesday, August 12th. Six research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $22.22.

Bicycle Therapeutics Stock Performance

Shares of BCYC traded down $0.23 during mid-day trading on Friday, reaching $6.93. 259,411 shares of the company's stock traded hands, compared to its average volume of 220,576. The business's 50-day moving average price is $7.56 and its 200-day moving average price is $7.95. The stock has a market capitalization of $480.30 million, a P/E ratio of -1.97 and a beta of 1.41. Bicycle Therapeutics PLC Sponsored ADR has a 12 month low of $6.10 and a 12 month high of $28.67.

Bicycle Therapeutics (NASDAQ:BCYC - Get Free Report) last released its quarterly earnings results on Friday, August 8th. The company reported ($1.14) earnings per share for the quarter, missing analysts' consensus estimates of ($0.95) by ($0.19). The business had revenue of $2.90 million for the quarter, compared to the consensus estimate of $9.43 million. Bicycle Therapeutics had a negative net margin of 1,257.00% and a negative return on equity of 32.43%. Equities research analysts anticipate that Bicycle Therapeutics PLC Sponsored ADR will post -3.06 EPS 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.