Tybourne Capital Management HK Ltd. Lowers Holdings in Bicycle Therapeutics PLC Sponsored ADR $BCYC

Key Points

• Tybourne Capital Management HK Ltd. reduced its position in Bicycle Therapeutics PLC by 54.6%, making it the firm's 3rd largest holding at 20.8% of its portfolio.
• Bicycle Therapeutics reported (-$1.14) EPS, missing consensus estimates, with revenue of $2.90 million—far below the expected $9.43 million.
• Analysts maintain a consensus rating of "Moderate Buy" for Bicycle Therapeutics, with a target price of $22.22, despite some firms lowering their price targets.

Tybourne Capital Management HK Ltd. lessened its stake in shares of Bicycle Therapeutics PLC Sponsored ADR (NASDAQ:BCYC - Free Report) by 54.6% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 576,343 shares of the company's stock after selling 693,192 shares during the period. Bicycle Therapeutics accounts for approximately 20.8% of Tybourne Capital Management HK Ltd.'s portfolio, making the stock its 3rd biggest position. Tybourne Capital Management HK Ltd. owned about 0.83% of Bicycle Therapeutics worth $4,893,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Barclays PLC grew its holdings in Bicycle Therapeutics by 878.3% in the fourth quarter. Barclays PLC now owns 2,612 shares of the company's stock valued at $37,000 after purchasing an additional 2,345 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Bicycle Therapeutics by 879.5% during the 1st quarter. GAMMA Investing LLC now owns 8,982 shares of the company's stock valued at $76,000 after buying an additional 8,065 shares during the period. Exchange Traded Concepts LLC grew its stake in Bicycle Therapeutics by 90.3% during the 1st quarter. Exchange Traded Concepts LLC now owns 12,764 shares of the company's stock valued at $108,000 after purchasing an additional 6,057 shares in the last quarter. Cerity Partners LLC acquired a new position in shares of Bicycle Therapeutics in the 1st quarter worth approximately $113,000. Finally, Portland Investment Counsel Inc. acquired a new position in shares of Bicycle Therapeutics in the 1st quarter worth approximately $127,000. Hedge funds and other institutional investors own 86.15% of the company's stock.

Analysts Set New Price Targets

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

Bicycle Therapeutics Price Performance

Shares of BCYC stock traded down $0.18 on Tuesday, hitting $7.20. 167,947 shares of the stock traded hands, compared to its average volume of 316,729. The firm has a market cap of $498.60 million, a price-to-earnings ratio of -2.05 and a beta of 1.41. Bicycle Therapeutics PLC Sponsored ADR has a 52 week low of $6.10 and a 52 week high of $28.67. The firm has a 50 day simple moving average of $7.67 and a two-hundred day simple moving average of $8.37.

Bicycle Therapeutics (NASDAQ:BCYC - Get Free Report) last released its quarterly earnings results on Friday, August 8th. The company reported ($1.14) EPS for the quarter, missing the consensus estimate of ($0.95) by ($0.19). Bicycle Therapeutics had a negative net margin of 1,257.00% and a negative return on equity of 32.43%. The firm had revenue of $2.90 million for the quarter, compared to analyst estimates of $9.43 million. Sell-side analysts forecast 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.