Long Focus Capital Management LLC Boosts Stock Holdings in Bicycle Therapeutics PLC Sponsored ADR $BCYC

Key Points

• Long Focus Capital Management LLC increased its stake in Bicycle Therapeutics PLC by 138.2%, acquiring a total of 1,293,753 shares valued at approximately $10.98 million.
• Despite recent investment interest, the stock has faced downgrades, with target prices set as low as $10.00 from various analysts, reflecting mixed sentiment in the market.
• Bicycle Therapeutics reported earnings with an EPS of ($1.14), missing estimates and showcasing significant operating losses, which raises questions about its financial health moving forward.

Long Focus Capital Management LLC increased its holdings in shares of Bicycle Therapeutics PLC Sponsored ADR (NASDAQ:BCYC - Free Report) by 138.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,293,753 shares of the company's stock after buying an additional 750,661 shares during the period. Long Focus Capital Management LLC owned about 1.87% of Bicycle Therapeutics worth $10,984,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Portland Investment Counsel Inc. bought a new position in Bicycle Therapeutics during the 1st quarter worth approximately $127,000. Candriam S.C.A. raised its holdings in Bicycle Therapeutics by 10.8% during the 1st quarter. Candriam S.C.A. now owns 1,205,207 shares of the company's stock worth $10,232,000 after purchasing an additional 117,331 shares during the last quarter. Tocqueville Asset Management L.P. raised its holdings in Bicycle Therapeutics by 24.5% during the 1st quarter. Tocqueville Asset Management L.P. now owns 18,300 shares of the company's stock worth $155,000 after purchasing an additional 3,600 shares during the last quarter. Westfield Capital Management Co. LP raised its holdings in Bicycle Therapeutics by 1.8% during the 1st quarter. Westfield Capital Management Co. LP now owns 2,657,305 shares of the company's stock worth $22,561,000 after purchasing an additional 46,968 shares during the last quarter. Finally, Jefferies Financial Group Inc. bought a new position in Bicycle Therapeutics during the 1st quarter worth approximately $3,471,000. 86.15% of the stock is currently owned by institutional investors and hedge funds.

Bicycle Therapeutics Stock Performance

BCYC traded down $0.10 during mid-day trading on Wednesday, reaching $7.10. 180,495 shares of the stock were exchanged, compared to its average volume of 315,913. The stock has a market capitalization of $491.68 million, a PE ratio of -2.02 and a beta of 1.41. The company has a 50 day moving average price of $7.66 and a two-hundred day moving average price of $8.36. Bicycle Therapeutics PLC Sponsored ADR has a 1 year low of $6.10 and a 1 year high of $28.67.

Bicycle Therapeutics (NASDAQ:BCYC - Get Free Report) last posted its quarterly earnings data 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). The firm had revenue of $2.90 million for the quarter, compared to analysts' expectations of $9.43 million. Bicycle Therapeutics had a negative return on equity of 32.43% and a negative net margin of 1,257.00%. Sell-side analysts expect that Bicycle Therapeutics PLC Sponsored ADR will post -3.06 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. JMP Securities lowered their price target 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. Royal Bank Of Canada set a $27.00 price objective on shares of Bicycle Therapeutics and gave the company an "outperform" rating in a research note on Monday, August 11th. Morgan Stanley lowered their price objective 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, Oppenheimer reiterated an "outperform" rating and issued a $44.00 price objective (down previously from $48.00) on shares of Bicycle Therapeutics in a research note on Monday, August 11th. Seven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently 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.