Candriam S.C.A. Acquires 117,331 Shares of Bicycle Therapeutics PLC Sponsored ADR $BCYC

Key Points

• Candriam S.C.A. increased its stake in Bicycle Therapeutics by 10.8%, holding a total of 1,205,207 shares valued at approximately $10.2 million as of the latest SEC filing.
• Institutional investors and hedge funds own 86.15% of Bicycle Therapeutics' stock, highlighting significant market interest.
• Several analysts have revised their price targets downwards, with the consensus price target now standing at $22.22 and a consensus rating of "Moderate Buy."

Candriam S.C.A. lifted its stake in Bicycle Therapeutics PLC Sponsored ADR (NASDAQ:BCYC - Free Report) by 10.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,205,207 shares of the company's stock after purchasing an additional 117,331 shares during the period. Candriam S.C.A. owned about 1.74% of Bicycle Therapeutics worth $10,232,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in BCYC. Barclays PLC increased its position in Bicycle Therapeutics by 878.3% during the 4th quarter. Barclays PLC now owns 2,612 shares of the company's stock valued at $37,000 after buying an additional 2,345 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Bicycle Therapeutics by 879.5% in the first quarter. GAMMA Investing LLC now owns 8,982 shares of the company's stock valued at $76,000 after acquiring an additional 8,065 shares in the last quarter. Exchange Traded Concepts LLC increased its holdings in shares of Bicycle Therapeutics by 90.3% in the first 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 last quarter. Cerity Partners LLC acquired a new stake in shares of Bicycle Therapeutics in the first quarter valued at approximately $113,000. Finally, Tocqueville Asset Management L.P. increased its stake in Bicycle Therapeutics by 24.5% during the first quarter. Tocqueville Asset Management L.P. now owns 18,300 shares of the company's stock worth $155,000 after acquiring an additional 3,600 shares during the last quarter. 86.15% of the stock is currently owned by institutional investors.

Bicycle Therapeutics Price Performance

Bicycle Therapeutics stock traded up $0.04 during mid-day trading on Wednesday, hitting $7.03. 61,126 shares of the company were exchanged, compared to its average volume of 318,491. The company has a market capitalization of $486.48 million, a P/E ratio of -2.00 and a beta of 1.44. Bicycle Therapeutics PLC Sponsored ADR has a 12-month low of $6.10 and a 12-month high of $28.67. The business's 50 day simple moving average is $7.68 and its two-hundred day simple moving average is $8.53.

Bicycle Therapeutics (NASDAQ:BCYC - Get Free Report) last posted its earnings results on Friday, August 8th. The company reported ($1.14) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 company had revenue of $2.90 million during the quarter, compared to analyst estimates of $9.43 million. Equities research analysts predict that Bicycle Therapeutics PLC Sponsored ADR will post -3.06 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on BCYC. Morgan Stanley lowered their price target on Bicycle Therapeutics from $17.00 to $13.00 and set an "equal weight" rating for the company in a research report on Tuesday, August 12th. Royal Bank Of Canada set a $27.00 target price on Bicycle Therapeutics and gave the stock an "outperform" rating in a research note on Monday, August 11th. B. Riley lowered their target price on Bicycle Therapeutics from $17.00 to $14.00 and set a "neutral" rating for the company in a research note on Friday, May 2nd. Oppenheimer reissued an "outperform" rating and set a $44.00 target price (down from $48.00) on shares of Bicycle Therapeutics in a research note on Monday, August 11th. Finally, JMP Securities cut their target price on Bicycle Therapeutics from $22.00 to $10.00 and set a "market outperform" rating on the stock in a research report on Tuesday, August 12th. Seven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $22.22.

About Bicycle Therapeutics

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.