Erste Asset Management GmbH Purchases New Position in Bicycle Therapeutics plc (NASDAQ:BCYC)

Erste Asset Management GmbH purchased a new stake in Bicycle Therapeutics plc (NASDAQ:BCYC) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 14,000 shares of the company’s stock, valued at approximately $325,000.

Several other large investors have also added to or reduced their stakes in the business. FMR LLC bought a new position in Bicycle Therapeutics in the 3rd quarter valued at about $3,406,000. The Manufacturers Life Insurance Company increased its stake in Bicycle Therapeutics by 33.2% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 129,705 shares of the company’s stock valued at $2,935,000 after buying an additional 32,313 shares during the last quarter. Westfield Capital Management Co. LP increased its stake in Bicycle Therapeutics by 21.5% in the 3rd quarter. Westfield Capital Management Co. LP now owns 1,850,945 shares of the company’s stock valued at $41,887,000 after buying an additional 327,089 shares during the last quarter. L & S Advisors Inc increased its stake in Bicycle Therapeutics by 2.4% in the 3rd quarter. L & S Advisors Inc now owns 59,735 shares of the company’s stock valued at $1,352,000 after buying an additional 1,400 shares during the last quarter. Finally, Crossmark Global Holdings Inc. purchased a new stake in Bicycle Therapeutics in the 3rd quarter valued at about $257,000. Institutional investors own 86.15% of the company’s stock.

Bicycle Therapeutics Trading Up 1.2 %

Bicycle Therapeutics stock opened at $19.68 on Thursday. Bicycle Therapeutics plc has a 1-year low of $14.33 and a 1-year high of $28.67. The firm has a market capitalization of $935.86 million, a price-to-earnings ratio of -5.98 and a beta of 0.86. The firm has a 50 day simple moving average of $23.27 and a 200 day simple moving average of $22.90.

Bicycle Therapeutics (NASDAQ:BCYC) last released its quarterly earnings data on Thursday, October 31st. The company reported ($0.74) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.78) by $0.04. Bicycle Therapeutics had a negative net margin of 450.64% and a negative return on equity of 27.35%. The business had revenue of $2.68 million during the quarter, compared to analyst estimates of $6.82 million. During the same period in the previous year, the business earned ($1.26) EPS. Bicycle Therapeutics’s revenue was down 50.0% compared to the same quarter last year. On average, equities research analysts forecast that Bicycle Therapeutics plc will post -3.07 EPS for the current year.

Insider Activity at Bicycle Therapeutics

In other Bicycle Therapeutics news, CAO Travis Alvin Thompson sold 6,256 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $25.11, for a total value of $157,088.16. Following the completion of the transaction, the chief accounting officer now directly owns 19,241 shares of the company’s stock, valued at $483,141.51. This trade represents a 24.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Kevin Lee sold 3,212 shares of the firm’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $22.26, for a total transaction of $71,499.12. Following the completion of the transaction, the chief executive officer now directly owns 380,864 shares of the company’s stock, valued at approximately $8,478,032.64. The trade was a 0.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,840 shares of company stock worth $259,128. Corporate insiders own 8.50% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on BCYC. Cantor Fitzgerald reiterated an “overweight” rating on shares of Bicycle Therapeutics in a research note on Monday, September 9th. Needham & Company LLC reiterated a “buy” rating and issued a $38.00 price objective on shares of Bicycle Therapeutics in a research note on Thursday, October 31st. Oppenheimer reiterated an “outperform” rating and issued a $48.00 price objective on shares of Bicycle Therapeutics in a research note on Wednesday, August 7th. B. Riley lowered shares of Bicycle Therapeutics from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $33.00 to $28.00 in a research note on Wednesday, August 7th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $35.00 price target on shares of Bicycle Therapeutics in a research note on Friday, November 1st. Two equities 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, the stock has an average rating of “Moderate Buy” and an average target price of $40.13.

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.