Millennium Management LLC Takes Position in Bicycle Therapeutics plc (NASDAQ:BCYC)

Millennium Management LLC acquired a new position in shares of Bicycle Therapeutics plc (NASDAQ:BCYC - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 176,757 shares of the company's stock, valued at approximately $2,475,000. Millennium Management LLC owned approximately 0.26% of Bicycle Therapeutics at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its position in Bicycle Therapeutics by 26.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 8,424 shares of the company's stock worth $191,000 after purchasing an additional 1,782 shares in the last quarter. Baker BROS. Advisors LP increased its position in Bicycle Therapeutics by 15.8% in the 4th quarter. Baker BROS. Advisors LP now owns 10,885,357 shares of the company's stock valued at $152,395,000 after acquiring an additional 1,485,397 shares during the period. EntryPoint Capital LLC acquired a new position in Bicycle Therapeutics in the 4th quarter valued at approximately $614,000. Fcpm Iii Services B.V. increased its position in Bicycle Therapeutics by 47.5% in the 4th quarter. Fcpm Iii Services B.V. now owns 3,452,330 shares of the company's stock valued at $48,333,000 after acquiring an additional 1,112,369 shares during the period. Finally, Platinum Investment Management Ltd. increased its position in Bicycle Therapeutics by 13.6% in the 4th quarter. Platinum Investment Management Ltd. now owns 309,059 shares of the company's stock valued at $4,327,000 after acquiring an additional 36,910 shares during the period. 86.15% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have issued reports on BCYC shares. Morgan Stanley set a $17.00 price target on shares of Bicycle Therapeutics and gave the company 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. HC Wainwright restated a "buy" rating and issued a $33.00 price target on shares of Bicycle Therapeutics in a research report on Wednesday, February 26th. Royal Bank of Canada decreased their price target on shares of Bicycle Therapeutics from $35.00 to $32.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. Finally, JMP Securities decreased their price objective 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 equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $25.00.

Bicycle Therapeutics Trading Up 1.9%

NASDAQ BCYC traded up $0.16 on Wednesday, hitting $8.46. 163,996 shares of the company were exchanged, compared to its average volume of 391,355. The company has a market cap of $585.89 million, a PE ratio of -2.57 and a beta of 1.60. Bicycle Therapeutics plc has a 12 month low of $6.10 and a 12 month high of $28.67. The stock has a fifty day moving average of $7.95 and a 200-day moving average of $11.90.

Bicycle Therapeutics (NASDAQ:BCYC - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported ($0.88) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.86) by ($0.02). Bicycle Therapeutics had a negative return on equity of 27.35% and a negative net margin of 450.64%. The company had revenue of $9.98 million for the quarter, compared to the consensus estimate of $8.67 million. On average, analysts expect that Bicycle Therapeutics plc will post -3.06 earnings per share 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.