Platinum Investment Management Ltd. Has $4.33 Million Stock Holdings in Bicycle Therapeutics plc (NASDAQ:BCYC)

Platinum Investment Management Ltd. boosted its holdings in Bicycle Therapeutics plc (NASDAQ:BCYC) by 13.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 309,059 shares of the company’s stock after purchasing an additional 36,910 shares during the quarter. Platinum Investment Management Ltd.’s holdings in Bicycle Therapeutics were worth $4,327,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Candriam S.C.A. raised its stake in 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 purchasing an additional 37,278 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its stake 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. Avior Wealth Management LLC acquired a new stake in Bicycle Therapeutics in the 4th quarter worth about $57,000. JPMorgan Chase & Co. increased its holdings in Bicycle Therapeutics by 26.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 8,424 shares of the company’s stock valued at $191,000 after buying an additional 1,782 shares during the period. Finally, Principal Financial Group Inc. bought a new position in Bicycle Therapeutics in the 3rd quarter valued at about $10,028,000. Institutional investors and hedge funds own 86.15% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on BCYC. Needham & Company LLC reissued a “buy” rating and issued a $30.00 target price on shares of Bicycle Therapeutics in a report on Tuesday, March 11th. B. Riley decreased their target price on shares of Bicycle Therapeutics from $28.00 to $17.00 and set a “neutral” rating on the stock in a report on Friday, December 13th. HC Wainwright reissued a “buy” rating and issued a $33.00 target price on shares of Bicycle Therapeutics in a report on Wednesday, February 26th. JMP Securities decreased their target price on shares of Bicycle Therapeutics from $32.00 to $26.00 and set a “market outperform” rating on the stock in a report on Wednesday, December 18th. Finally, Stephens reaffirmed an “equal weight” rating and set a $15.00 price target on shares of Bicycle Therapeutics in a report on Wednesday, January 22nd. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $29.14.

Insider Buying and Selling

In other news, insider Santiago Arroyo sold 4,943 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $14.09, for a total value of $69,646.87. Following the transaction, the insider now owns 69,057 shares in the company, valued at approximately $973,013.13. The trade was a 6.68 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Kevin Lee sold 9,038 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $14.09, for a total transaction of $127,345.42. Following the completion of the transaction, the chief executive officer now owns 495,026 shares in the company, valued at $6,974,916.34. This trade represents a 1.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 27,677 shares of company stock worth $392,413 in the last ninety days. Company insiders own 8.50% of the company’s stock.

Bicycle Therapeutics Trading Down 4.1 %

Shares of Bicycle Therapeutics stock opened at $9.57 on Wednesday. The firm’s 50 day moving average is $12.12 and its 200 day moving average is $18.24. Bicycle Therapeutics plc has a 1 year low of $9.00 and a 1 year high of $28.67. The firm has a market capitalization of $660.77 million, a PE ratio of -2.91 and a beta of 1.12.

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