Bicycle Therapeutics PLC Sponsored ADR $BCYC Shares Bought by Armistice Capital LLC

Key Points

• Armistice Capital LLC increased its stake in Bicycle Therapeutics PLC by 21.7%, now owning approximately 3.86% of the company valued at $22.7 million.
• Recent analyst price targets for Bicycle Therapeutics range from $10.00 to $44.00, with a consensus rating of "Moderate Buy" and an average target price of $22.22.
• Bicycle Therapeutics reported a loss of $1.14 EPS in its latest quarter, missing the consensus estimate significantly while generating only $2.90 million in revenue against a projected $9.43 million.

Armistice Capital LLC lifted its position in Bicycle Therapeutics PLC Sponsored ADR (NASDAQ:BCYC - Free Report) by 21.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,672,000 shares of the company's stock after purchasing an additional 476,000 shares during the quarter. Armistice Capital LLC owned about 3.86% of Bicycle Therapeutics worth $22,685,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of BCYC. Point72 Asset Management L.P. grew its holdings in shares of Bicycle Therapeutics by 406.2% in the fourth quarter. Point72 Asset Management L.P. now owns 4,554,900 shares of the company's stock valued at $63,769,000 after purchasing an additional 3,655,101 shares during the period. Baker BROS. Advisors LP grew its holdings in shares of 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 purchasing an additional 1,485,397 shares during the period. Fcpm Iii Services B.V. grew its holdings in shares of Bicycle Therapeutics by 47.5% in the fourth quarter. Fcpm Iii Services B.V. now owns 3,452,330 shares of the company's stock valued at $48,333,000 after purchasing an additional 1,112,369 shares during the period. Long Focus Capital Management LLC grew its holdings in shares of Bicycle Therapeutics by 138.2% in the first quarter. Long Focus Capital Management LLC now owns 1,293,753 shares of the company's stock valued at $10,984,000 after purchasing an additional 750,661 shares during the period. Finally, Jefferies Financial Group Inc. purchased a new stake in shares of Bicycle Therapeutics in the first quarter valued at about $3,471,000. Hedge funds and other institutional investors own 86.15% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on BCYC. JMP Securities dropped their price objective on shares of Bicycle Therapeutics from $22.00 to $10.00 and set a "market outperform" rating for the company in a report on Tuesday, August 12th. Oppenheimer restated an "outperform" rating and issued a $44.00 price objective (down from $48.00) on shares of Bicycle Therapeutics in a report on Monday, August 11th. Morgan Stanley lowered their target price on shares of 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. Finally, Royal Bank Of Canada set a $27.00 price target on shares of Bicycle Therapeutics and gave the company an "outperform" rating in a research report on Monday, August 11th. Seven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Bicycle Therapeutics currently has a consensus rating of "Moderate Buy" and a consensus price target of $22.22.

Bicycle Therapeutics Stock Down 1.4%

Shares of BCYC traded down $0.10 during mid-day trading on Wednesday, hitting $7.10. 180,495 shares of the company's stock were exchanged, compared to its average volume of 251,371. Bicycle Therapeutics PLC Sponsored ADR has a fifty-two week low of $6.10 and a fifty-two week high of $28.67. The stock's 50-day moving average is $7.66 and its 200-day moving average is $8.35.

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

Bicycle Therapeutics Company 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.