RA Capital Management L.P. Sells 1,159,523 Shares of Bicycle Therapeutics plc (NASDAQ:BCYC)

RA Capital Management L.P. decreased its position in Bicycle Therapeutics plc (NASDAQ:BCYC - Free Report) by 51.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,093,477 shares of the company's stock after selling 1,159,523 shares during the quarter. RA Capital Management L.P. owned 1.58% of Bicycle Therapeutics worth $15,309,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of BCYC. Candriam S.C.A. boosted its position in shares of Bicycle Therapeutics by 3.5% in the 4th quarter. Candriam S.C.A. now owns 1,087,876 shares of the company's stock worth $15,230,000 after buying an additional 37,278 shares in the last quarter. Long Focus Capital Management LLC purchased a new stake in Bicycle Therapeutics during the 4th quarter worth $7,603,000. Principal Financial Group Inc. bought a new position in Bicycle Therapeutics during the 3rd quarter valued at $10,028,000. Platinum Investment Management Ltd. increased its stake in Bicycle Therapeutics by 13.6% during the fourth quarter. Platinum Investment Management Ltd. now owns 309,059 shares of the company's stock valued at $4,327,000 after purchasing an additional 36,910 shares during the last quarter. Finally, Springhill Fund Asset Management HK Co Ltd bought a new stake in Bicycle Therapeutics in the fourth quarter valued at $1,630,000. 86.15% of the stock is owned by hedge funds and other institutional investors.

Bicycle Therapeutics Stock Down 12.8 %

BCYC stock traded down $1.16 during midday trading on Tuesday, reaching $7.90. 196,261 shares of the company's stock traded hands, compared to its average volume of 395,094. The company has a market cap of $546.42 million, a price-to-earnings ratio of -2.40 and a beta of 1.60. The firm's fifty day moving average price is $8.66 and its 200-day moving average price is $14.18. 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 during the quarter, compared to analysts' expectations of $8.67 million. Bicycle Therapeutics had a negative net margin of 450.64% and a negative return on equity of 27.35%. Analysts forecast that Bicycle Therapeutics plc will post -3.06 earnings per share for the current year.

Wall Street Analyst Weigh In

BCYC has been the topic of a number of research reports. B. Riley dropped their target price on shares of Bicycle Therapeutics from $17.00 to $14.00 and set a "neutral" rating on the stock in a report on Friday. Needham & Company LLC restated a "buy" rating and set a $29.00 price target on shares of Bicycle Therapeutics in a research note on Friday. JMP Securities reduced their target price on Bicycle Therapeutics from $26.00 to $22.00 and set a "market outperform" rating on the stock in a report on Friday. Royal Bank of Canada lowered their target price on shares of Bicycle Therapeutics from $35.00 to $32.00 and set an "outperform" rating for the company in a report on Friday. Finally, Morgan Stanley set a $17.00 price objective on shares of Bicycle Therapeutics and gave the stock an "equal weight" rating in a research report on Monday. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Bicycle Therapeutics has an average rating of "Moderate Buy" and an average target price of $25.00.

About Bicycle Therapeutics

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.