DAFNA Capital Management LLC Has $686,000 Stock Position in Bicycle Therapeutics PLC Sponsored ADR $BCYC

Key Points

• DAFNA Capital Management LLC sold 40,000 shares of Bicycle Therapeutics PLC, reducing its stake by 33.1%, resulting in ownership of approximately 80,799 shares valued at $686,000.
• Analysts have revised their price objectives for Bicycle Therapeutics, with estimates ranging from $10.00 to $44.00, while the consensus rating remains a "Moderate Buy" with an average price target of $22.22.
• Bicycle Therapeutics reported a quarterly revenue of $2.90 million, falling short of analyst expectations of $9.43 million, alongside a quarterly EPS of $(1.14), missing the consensus estimate by ($0.19).

DAFNA Capital Management LLC trimmed its holdings in shares of Bicycle Therapeutics PLC Sponsored ADR (NASDAQ:BCYC - Free Report) by 33.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 80,799 shares of the company's stock after selling 40,000 shares during the quarter. DAFNA Capital Management LLC owned 0.12% of Bicycle Therapeutics worth $686,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BCYC. Barclays PLC grew its holdings in shares of Bicycle Therapeutics by 878.3% during 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 grew its holdings in Bicycle Therapeutics by 879.5% in the 1st quarter. GAMMA Investing LLC now owns 8,982 shares of the company's stock worth $76,000 after buying an additional 8,065 shares in the last quarter. Exchange Traded Concepts LLC boosted 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 bought a new position in Bicycle Therapeutics during the 1st quarter valued at $113,000. Finally, Portland Investment Counsel Inc. bought a new position in Bicycle Therapeutics during the 1st quarter valued at $127,000. 86.15% of the stock is owned by institutional investors.

Bicycle Therapeutics Trading Down 1.4%

Bicycle Therapeutics stock traded down $0.10 during mid-day trading on Wednesday, hitting $7.10. The stock had a trading volume of 180,495 shares, compared to its average volume of 315,913. The stock has a 50-day simple moving average of $7.66 and a two-hundred day simple moving average of $8.36. The stock has a market capitalization of $491.70 million, a PE ratio of -2.02 and a beta of 1.41. Bicycle Therapeutics PLC Sponsored ADR has a 12 month low of $6.10 and a 12 month high of $28.67.

Bicycle Therapeutics (NASDAQ:BCYC - Get Free Report) last posted 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). 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 during the quarter, compared to the consensus estimate of $9.43 million. Sell-side analysts expect that Bicycle Therapeutics PLC Sponsored ADR will post -3.06 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

BCYC has been the subject of several research reports. Oppenheimer reissued an "outperform" rating and set a $44.00 price objective (down from $48.00) on shares of Bicycle Therapeutics in a research note on Monday, August 11th. Royal Bank Of Canada set a $27.00 price objective on Bicycle Therapeutics and gave the stock an "outperform" rating in a report on Monday, August 11th. JMP Securities lowered their target price on shares of 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. Finally, Morgan Stanley lowered their price target on Bicycle Therapeutics from $17.00 to $13.00 and set an "equal weight" 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 given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price 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.