Principal Financial Group Inc. Raises Holdings in Bicycle Therapeutics PLC Sponsored ADR (NASDAQ:BCYC)

Principal Financial Group Inc. grew its stake in Bicycle Therapeutics PLC Sponsored ADR (NASDAQ:BCYC - Free Report) by 55.3% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 631,260 shares of the company's stock after purchasing an additional 224,790 shares during the quarter. Principal Financial Group Inc. owned approximately 0.91% of Bicycle Therapeutics worth $5,359,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Barclays PLC increased its position 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 acquiring an additional 2,345 shares during the last quarter. GAMMA Investing LLC increased its position in Bicycle Therapeutics by 879.5% in the first quarter. GAMMA Investing LLC now owns 8,982 shares of the company's stock worth $76,000 after buying an additional 8,065 shares during the last quarter. Exchange Traded Concepts LLC increased its position in Bicycle Therapeutics by 90.3% in the first quarter. Exchange Traded Concepts LLC now owns 12,764 shares of the company's stock worth $108,000 after buying an additional 6,057 shares during the last quarter. Jane Street Group LLC increased its position in Bicycle Therapeutics by 18.9% in the fourth quarter. Jane Street Group LLC now owns 23,991 shares of the company's stock worth $336,000 after buying an additional 3,811 shares during the last quarter. Finally, EntryPoint Capital LLC purchased a new stake in Bicycle Therapeutics in the fourth quarter worth $614,000. 86.15% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BCYC has been the subject of a number of recent research reports. JMP Securities decreased their target price on 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. Morgan Stanley set a $17.00 price target on Bicycle Therapeutics and gave the stock an "equal weight" rating in a report on Monday, May 5th. Needham & Company LLC reaffirmed a "buy" rating and issued a $29.00 price target on shares of Bicycle Therapeutics in a report on Friday, May 2nd. Royal Bank Of Canada cut their price target on Bicycle Therapeutics from $32.00 to $25.00 and set an "outperform" rating for the company in a report on Thursday. Finally, Barclays cut their price target on Bicycle Therapeutics from $40.00 to $15.00 and set an "overweight" rating for the company in a report on Thursday, May 1st. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $24.22.

Bicycle Therapeutics Stock Up 6.5%

Shares of BCYC traded up $0.52 during trading hours on Friday, hitting $8.56. The company had a trading volume of 501,623 shares, compared to its average volume of 400,096. The firm has a market cap of $592.78 million, a P/E ratio of -2.73 and a beta of 1.41. The stock's 50 day moving average price is $7.96 and its 200 day moving average price is $9.62. Bicycle Therapeutics PLC Sponsored ADR has a 52-week low of $6.10 and a 52-week high of $28.67.

Bicycle Therapeutics (NASDAQ:BCYC - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported ($0.88) EPS for the quarter, missing analysts' consensus estimates of ($0.86) by ($0.02). The business had revenue of $9.98 million for the quarter, compared to the consensus estimate of $8.67 million. Bicycle Therapeutics had a negative net margin of 790.07% and a negative return on equity of 25.54%. On average, research analysts expect that Bicycle Therapeutics PLC Sponsored ADR will post -3.06 EPS for the current fiscal year.

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.