Point72 Asset Management L.P. Has $63.77 Million Stock Holdings in Bicycle Therapeutics plc (NASDAQ:BCYC)

Point72 Asset Management L.P. grew its holdings in Bicycle Therapeutics plc (NASDAQ:BCYC - Free Report) by 406.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 4,554,900 shares of the company's stock after purchasing an additional 3,655,101 shares during the period. Point72 Asset Management L.P. owned approximately 6.60% of Bicycle Therapeutics worth $63,769,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Barclays PLC boosted its position in Bicycle Therapeutics by 878.3% in the fourth 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 acquired a new stake in shares of Bicycle Therapeutics during the 4th quarter valued at $57,000. JPMorgan Chase & Co. grew its position in Bicycle Therapeutics by 26.8% during 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. China Universal Asset Management Co. Ltd. increased its holdings in Bicycle Therapeutics by 30.7% in the 4th 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 in the last quarter. Finally, Jane Street Group LLC raised 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 valued at $336,000 after purchasing an additional 3,811 shares during the last quarter. Institutional investors and hedge funds own 86.15% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on BCYC. Barclays lowered their price objective on Bicycle Therapeutics from $40.00 to $15.00 and set an "overweight" rating for the company in a research note on Thursday, May 1st. Needham & Company LLC restated a "buy" rating and issued a $29.00 price target on shares of Bicycle Therapeutics in a research report on Friday, May 2nd. Stephens reaffirmed an "equal weight" rating and set a $15.00 price target on shares of Bicycle Therapeutics in a research note on Wednesday, January 22nd. 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. Finally, JMP Securities reduced their price objective on shares of Bicycle Therapeutics from $26.00 to $22.00 and set a "market outperform" rating on the stock in a research note on Friday, May 2nd. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Bicycle Therapeutics presently has an average rating of "Moderate Buy" and a consensus target price of $25.00.

Bicycle Therapeutics Stock Performance

Shares of NASDAQ:BCYC traded down $0.47 during trading on Wednesday, reaching $8.04. The stock had a trading volume of 72,431 shares, compared to its average volume of 403,755. Bicycle Therapeutics plc has a 52 week low of $6.10 and a 52 week high of $28.67. The firm's fifty day moving average is $8.18 and its 200 day moving average is $12.99. The stock has a market cap of $557.08 million, a price-to-earnings ratio of -2.47 and a beta of 1.60.

Bicycle Therapeutics (NASDAQ:BCYC - Get Free Report) last released 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 450.64% and a negative return on equity of 27.35%. The firm had revenue of $9.98 million during the quarter, compared to analyst estimates of $8.67 million. On average, research analysts forecast 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.