Westfield Capital Management Co. LP Increases Position in Bicycle Therapeutics PLC Sponsored ADR (NASDAQ:BCYC)

Key Points

• Westfield Capital Management Co. LP increased its stake in Bicycle Therapeutics PLC by 1.8%, owning a total of 2,657,305 shares worth approximately $22.56 million.
• As of now, about 86.15% of Bicycle Therapeutics' stock is owned by institutional investors and hedge funds, showcasing significant institutional interest in the company.
• Wall Street analysts have mixed ratings on Bicycle Therapeutics, with a consensus rating of "Moderate Buy" and an average price target of $24.22.

Westfield Capital Management Co. LP lifted its stake in Bicycle Therapeutics PLC Sponsored ADR (NASDAQ:BCYC - Free Report) by 1.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,657,305 shares of the company's stock after buying an additional 46,968 shares during the period. Westfield Capital Management Co. LP owned approximately 3.84% of Bicycle Therapeutics worth $22,561,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Barclays PLC increased its holdings in shares of Bicycle Therapeutics by 878.3% in the fourth quarter. Barclays PLC now owns 2,612 shares of the company's stock worth $37,000 after buying an additional 2,345 shares during the period. GAMMA Investing LLC increased its holdings in 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 purchasing an additional 8,065 shares during the period. Exchange Traded Concepts LLC increased its holdings 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 during the period. Cerity Partners LLC purchased a new position in Bicycle Therapeutics during the 1st quarter valued at about $113,000. Finally, Jane Street Group LLC increased its holdings in Bicycle Therapeutics by 18.9% during the 4th quarter. Jane Street Group LLC now owns 23,991 shares of the company's stock valued at $336,000 after purchasing an additional 3,811 shares during the period. Hedge funds and other institutional investors own 86.15% of the company's stock.

Bicycle Therapeutics Price Performance

NASDAQ BCYC traded down $0.10 on Thursday, hitting $7.46. The stock had a trading volume of 133,844 shares, compared to its average volume of 264,882. The business's fifty day moving average price is $7.97 and its 200 day moving average price is $9.07. Bicycle Therapeutics PLC Sponsored ADR has a 52-week low of $6.10 and a 52-week high of $28.67. The stock has a market cap of $516.61 million, a price-to-earnings ratio of -2.38 and a beta of 1.44.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Needham & Company LLC restated a "buy" rating and set a $29.00 price target on shares of Bicycle Therapeutics in a report on Friday, May 2nd. Barclays reduced their price target on Bicycle Therapeutics from $40.00 to $15.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. Royal Bank Of Canada cut their price objective on Bicycle Therapeutics from $32.00 to $25.00 and set an "outperform" rating on the stock in a research report on Thursday, July 17th. Morgan Stanley set a $17.00 price objective on Bicycle Therapeutics and gave the company an "equal weight" rating in a research report on Monday, May 5th. Finally, JMP Securities cut their price objective on 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 investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $24.22.

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.