Point72 Asset Management L.P. Acquires 3,655,101 Shares of Bicycle Therapeutics plc (NASDAQ:BCYC)

Point72 Asset Management L.P. boosted its position in shares of Bicycle Therapeutics plc (NASDAQ:BCYC - Free Report) by 406.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,554,900 shares of the company's stock after acquiring an additional 3,655,101 shares during the period. Point72 Asset Management L.P. owned 6.60% of Bicycle Therapeutics worth $63,769,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Barclays PLC grew its holdings in Bicycle Therapeutics by 878.3% during the 4th quarter. Barclays PLC now owns 2,612 shares of the company's stock valued at $37,000 after buying an additional 2,345 shares in the last quarter. Avior Wealth Management LLC purchased a new position in Bicycle Therapeutics during the fourth quarter worth $57,000. JPMorgan Chase & Co. boosted its stake in Bicycle Therapeutics by 26.8% during the third quarter. JPMorgan Chase & Co. now owns 8,424 shares of the company's stock worth $191,000 after buying an additional 1,782 shares during the period. China Universal Asset Management Co. Ltd. lifted its position in shares of Bicycle Therapeutics by 30.7% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 9,329 shares of the company's stock worth $131,000 after purchasing an additional 2,191 shares during the last quarter. Finally, Jane Street Group LLC lifted its position in shares of Bicycle Therapeutics by 18.9% during the fourth quarter. Jane Street Group LLC now owns 23,991 shares of the company's stock worth $336,000 after purchasing an additional 3,811 shares during the last quarter. Institutional investors own 86.15% of the company's stock.

Analyst Ratings Changes

BCYC has been the subject of a number of research reports. B. Riley lowered their price objective on shares of Bicycle Therapeutics from $17.00 to $14.00 and set a "neutral" rating for the company in a research note on Friday, May 2nd. JMP Securities reduced 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. Stephens restated an "equal weight" rating and issued a $15.00 price target on shares of Bicycle Therapeutics in a report on Wednesday, January 22nd. HC Wainwright restated a "buy" rating and issued a $33.00 price target on shares of Bicycle Therapeutics in a report on Wednesday, February 26th. Finally, Needham & Company LLC restated a "buy" rating and issued a $29.00 price target on shares of Bicycle Therapeutics in a report on Friday, May 2nd. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $25.00.

Bicycle Therapeutics Stock Up 1.4%

NASDAQ BCYC opened at $8.12 on Friday. The firm has a market cap of $562.34 million, a PE ratio of -2.47 and a beta of 1.60. The company has a 50 day moving average price of $8.28 and a 200 day moving average price of $13.38. Bicycle Therapeutics plc has a 52 week low of $6.10 and a 52 week high of $28.67.

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

Bicycle Therapeutics 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.

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