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 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 631,260 shares of the company's stock after acquiring an additional 224,790 shares during the period. Principal Financial Group Inc. owned 0.91% of Bicycle Therapeutics worth $5,359,000 at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in the stock. Exchange Traded Concepts LLC lifted its position in shares of Bicycle Therapeutics by 90.3% in the 1st quarter. Exchange Traded Concepts LLC now owns 12,764 shares of the company's stock worth $108,000 after purchasing an additional 6,057 shares during the period. Harbor Capital Advisors Inc. lifted its position in shares of Bicycle Therapeutics by 12.6% in the 1st quarter. Harbor Capital Advisors Inc. now owns 148,129 shares of the company's stock worth $1,258,000 after purchasing an additional 16,624 shares during the period. GAMMA Investing LLC lifted its position in shares of 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 purchasing an additional 8,065 shares during the period. Point72 Asset Management L.P. lifted its position in shares of Bicycle Therapeutics by 406.2% in the 4th quarter. Point72 Asset Management L.P. now owns 4,554,900 shares of the company's stock worth $63,769,000 after purchasing an additional 3,655,101 shares during the period. Finally, OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Bicycle Therapeutics by 43.3% during the fourth quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 80,236 shares of the company's stock valued at $1,123,000 after acquiring an additional 24,260 shares during the last quarter. 86.15% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
BCYC has been the subject of a number of analyst reports. Barclays decreased their target price on shares of Bicycle Therapeutics from $40.00 to $15.00 and set an "overweight" rating for the company in a research report on Thursday, May 1st. Morgan Stanley set a $17.00 price target on shares of Bicycle Therapeutics and gave the stock an "equal weight" rating in a 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 report on Friday, May 2nd. 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. Finally, JMP Securities decreased their price target on shares of Bicycle Therapeutics from $26.00 to $22.00 and set a "market outperform" rating for the company in a report on Friday, May 2nd. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Bicycle Therapeutics currently has an average rating of "Moderate Buy" and an average target price of $24.22.
Read Our Latest Research Report on Bicycle Therapeutics
Bicycle Therapeutics Price Performance
BCYC stock traded up $0.52 during midday trading on Friday, hitting $8.56. 501,623 shares of the stock traded hands, 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 fifty day simple moving average is $7.96 and its 200-day simple moving average is $9.62. 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 announced 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 net margin of 790.07% and a negative return on equity of 25.54%. The company had revenue of $9.98 million during the quarter, compared to analyst estimates of $8.67 million. On average, research analysts predict that Bicycle Therapeutics PLC Sponsored ADR will post -3.06 earnings per share for the current year.
About Bicycle Therapeutics
(
Free Report)
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.
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