Bicycle Therapeutics plc (NASDAQ:BCYC) Shares Sold by Legal & General Group Plc

Legal & General Group Plc reduced its position in shares of Bicycle Therapeutics plc (NASDAQ:BCYC - Free Report) by 41.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 139,075 shares of the company's stock after selling 99,741 shares during the quarter. Legal & General Group Plc owned about 0.20% of Bicycle Therapeutics worth $1,947,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Avior Wealth Management LLC purchased a new stake in Bicycle Therapeutics during the 4th quarter valued at $57,000. China Universal Asset Management Co. Ltd. raised its stake in shares of Bicycle Therapeutics by 30.7% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 9,329 shares of the company's stock valued at $131,000 after acquiring an additional 2,191 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Bicycle Therapeutics by 26.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 8,424 shares of the company's stock worth $191,000 after acquiring an additional 1,782 shares during the last quarter. Jane Street Group LLC boosted its stake in shares of Bicycle Therapeutics by 35.7% during the 3rd quarter. Jane Street Group LLC now owns 20,180 shares of the company's stock worth $457,000 after purchasing an additional 5,310 shares during the period. Finally, EntryPoint Capital LLC bought a new position in Bicycle Therapeutics during the 4th quarter valued at about $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 several analyst reports. Needham & Company LLC reissued a "buy" rating and issued a $30.00 price objective on shares of Bicycle Therapeutics in a research note on Wednesday, April 9th. Stephens restated an "equal weight" rating and set a $15.00 price objective on shares of Bicycle Therapeutics in a report on Wednesday, January 22nd. Finally, HC Wainwright reiterated a "buy" rating and issued a $33.00 target price on shares of Bicycle Therapeutics in a research note on Wednesday, February 26th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $29.14.

Bicycle Therapeutics Stock Performance

NASDAQ BCYC traded up $0.35 on Wednesday, reaching $8.56. 414,329 shares of the stock traded hands, compared to its average volume of 397,616. Bicycle Therapeutics plc has a 12 month low of $6.10 and a 12 month high of $28.67. The company has a fifty day moving average price of $8.79 and a 200-day moving average price of $14.72. The company has a market cap of $592.37 million, a price-to-earnings ratio of -2.60 and a beta of 1.40.

Bicycle Therapeutics (NASDAQ:BCYC - Get Free Report) last issued its quarterly earnings data on Tuesday, February 25th. The company reported ($0.75) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.85) by $0.10. The company had revenue of $3.70 million for the quarter, compared to analyst estimates of $5.47 million. Bicycle Therapeutics had a negative net margin of 450.64% and a negative return on equity of 27.35%. Bicycle Therapeutics's revenue was down 30.2% compared to the same quarter last year. During the same period last year, the company posted ($1.16) earnings per share. As a group, research analysts anticipate that Bicycle Therapeutics plc will post -3.06 earnings per share for the current fiscal 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.