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 position in shares of Bicycle Therapeutics PLC Sponsored ADR (NASDAQ:BCYC - Free Report) by 1.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Barclays PLC boosted its position in shares of Bicycle Therapeutics by 878.3% during the 4th quarter. Barclays PLC now owns 2,612 shares of the company's stock worth $37,000 after purchasing an additional 2,345 shares during the period. GAMMA Investing LLC boosted its position 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 worth $76,000 after purchasing an additional 8,065 shares during the period. Exchange Traded Concepts LLC boosted its position in shares of Bicycle Therapeutics by 90.3% during the 1st 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 period. Cerity Partners LLC purchased a new position in shares of Bicycle Therapeutics during the 1st quarter worth approximately $113,000. Finally, Jane Street Group LLC boosted its position in shares of Bicycle Therapeutics by 18.9% during the 4th quarter. Jane Street Group LLC now owns 23,991 shares of the company's stock worth $336,000 after purchasing an additional 3,811 shares during the period. Institutional investors and hedge funds own 86.15% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Morgan Stanley set a $17.00 price objective on shares of Bicycle Therapeutics and gave the stock an "equal weight" rating in a research report on Monday, May 5th. B. Riley decreased their price target on shares of Bicycle Therapeutics from $17.00 to $14.00 and set a "neutral" rating for the company in a research report on Friday, May 2nd. Needham & Company LLC reissued a "buy" rating and issued a $29.00 price target on shares of Bicycle Therapeutics in a research report on Friday, May 2nd. Barclays decreased their price target on shares of Bicycle Therapeutics from $40.00 to $15.00 and set an "overweight" rating for the company in a research report on Thursday, May 1st. Finally, JMP Securities decreased their price target on shares of Bicycle Therapeutics from $26.00 to $22.00 and set a "market outperform" rating for the company in a research report on Friday, May 2nd. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $21.25.

Bicycle Therapeutics Trading Up 2.5%

NASDAQ:BCYC traded up $0.19 during midday trading on Friday, hitting $7.65. 256,013 shares of the company were exchanged, compared to its average volume of 258,752. The company has a fifty day simple moving average of $7.96 and a 200 day simple moving average of $9.03. Bicycle Therapeutics PLC Sponsored ADR has a fifty-two week low of $6.10 and a fifty-two week high of $28.67. The company has a market capitalization of $529.76 million, a PE ratio of -2.44 and a beta of 1.44.

Bicycle Therapeutics (NASDAQ:BCYC - Get Free Report) last posted its quarterly earnings data on Friday, August 8th. The company reported ($1.14) EPS for the quarter, missing analysts' consensus estimates of ($0.95) by ($0.19). Bicycle Therapeutics had a negative net margin of 790.07% and a negative return on equity of 25.54%. The business had revenue of $2.90 million during the quarter, compared to analyst estimates of $9.43 million. As a group, equities research analysts expect that Bicycle Therapeutics PLC Sponsored ADR will post -3.06 EPS for the current 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.