Renaissance Technologies LLC Buys 412,700 Shares of Bicycle Therapeutics PLC Sponsored ADR $BCYC

Key Points

• Renaissance Technologies increased its Bicycle Therapeutics stake by 72.8%, adding 412,700 shares to own 979,300 shares, or approximately 1.4% of BCYC. Institutional investors collectively own 86.15% of the company.
• Analyst sentiment is mixed: five analysts rate BCYC a Buy, three rate it Hold and one rates it Sell. The consensus rating is Hold, with a target price of $13.86.
• BCYC opened at $3.97, near its 52-week low, after reporting a quarterly loss of $0.72 per share versus the expected $0.58 loss and revenue of $0.63 million, well below the $4.22 million estimate.

Renaissance Technologies LLC increased its position in Bicycle Therapeutics PLC Sponsored ADR (NASDAQ:BCYC - Free Report) by 72.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 979,300 shares of the company's stock after purchasing an additional 412,700 shares during the period. Renaissance Technologies LLC owned approximately 1.40% of Bicycle Therapeutics worth $4,544,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of BCYC. GSK plc purchased a new position in Bicycle Therapeutics in the fourth quarter worth about $10,829,000. Schroder Investment Management Group purchased a new stake in shares of Bicycle Therapeutics during the fourth quarter valued at approximately $3,976,000. Woodline Partners LP purchased a new stake in shares of Bicycle Therapeutics during the first quarter valued at approximately $3,088,000. Birchview Capital LP grew its holdings in shares of Bicycle Therapeutics by 200.5% during the fourth quarter. Birchview Capital LP now owns 462,700 shares of the company's stock valued at $3,276,000 after buying an additional 308,700 shares during the last quarter. Finally, Millennium Management LLC increased its position in shares of Bicycle Therapeutics by 156.5% during the first quarter. Millennium Management LLC now owns 453,428 shares of the company's stock valued at $3,850,000 after acquiring an additional 276,671 shares in the last quarter. 86.15% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Bicycle Therapeutics news, CEO Kevin Lee sold 5,905 shares of the stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $4.27, for a total value of $25,214.35. Following the transaction, the chief executive officer owned 605,408 shares of the company's stock, valued at approximately $2,585,092.16. This represents a 0.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 9,977 shares of company stock worth $42,702 in the last three months. 22.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently issued reports on BCYC. Citigroup reaffirmed a "market outperform" rating on shares of Bicycle Therapeutics in a research report on Wednesday, June 3rd. Needham & Company LLC reduced their target price on Bicycle Therapeutics from $15.00 to $14.00 and set a "buy" rating for the company in a report on Thursday, July 30th. Weiss Ratings restated a "sell (e+)" rating on shares of Bicycle Therapeutics in a research note on Wednesday, July 8th. Wall Street Zen raised Bicycle Therapeutics from a "strong sell" rating to a "sell" rating in a report on Saturday, June 27th. Finally, Jefferies Financial Group reaffirmed a "buy" rating and set a $12.00 price objective on shares of Bicycle Therapeutics in a research report on Thursday, April 30th. Five equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $13.86.

Bicycle Therapeutics Stock Performance

Shares of BCYC opened at $3.97 on Friday. The firm has a market cap of $277.15 million, a PE ratio of -1.45 and a beta of 1.55. The firm has a fifty day simple moving average of $4.14 and a two-hundred day simple moving average of $4.84. Bicycle Therapeutics PLC Sponsored ADR has a 1-year low of $3.74 and a 1-year high of $9.16.

Bicycle Therapeutics (NASDAQ:BCYC - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The company reported ($0.72) earnings per share for the quarter, missing the consensus estimate of ($0.58) by ($0.14). The firm had revenue of $0.63 million for the quarter, compared to the consensus estimate of $4.22 million. Bicycle Therapeutics had a negative net margin of 311.11% and a negative return on equity of 33.22%. As a group, research analysts forecast that Bicycle Therapeutics PLC Sponsored ADR will post -2.23 EPS for the current fiscal year.

About Bicycle Therapeutics

Bicycle Therapeutics plc is a clinical-stage biotechnology company specializing in the discovery and development of novel peptide therapeutics based on its proprietary bicyclic peptide platform. The company's core technology leverages constrained peptide structures that combine the binding specificity of biologics with the favorable tissue-penetration properties of small molecules. This approach is designed to generate highly selective drug candidates with potential applications across a range of therapeutic areas, including oncology, neuroscience and immunology.

Bicycle Therapeutics maintains a diversified pipeline of internally developed programs as well as collaborations with leading pharmaceutical partners.

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