Parkman Healthcare Partners LLC Sells 89,667 Shares of Bicycle Therapeutics plc (NASDAQ:BCYC)

Parkman Healthcare Partners LLC trimmed its stake in shares of Bicycle Therapeutics plc (NASDAQ:BCYC - Free Report) by 16.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 445,396 shares of the company's stock after selling 89,667 shares during the quarter. Bicycle Therapeutics accounts for 1.3% of Parkman Healthcare Partners LLC's portfolio, making the stock its 26th largest holding. Parkman Healthcare Partners LLC owned approximately 0.94% of Bicycle Therapeutics worth $10,079,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of BCYC. Assetmark Inc. acquired a new position in shares of Bicycle Therapeutics during the third quarter worth approximately $34,000. GAMMA Investing LLC boosted its position in Bicycle Therapeutics by 105.1% in the 3rd quarter. GAMMA Investing LLC now owns 2,026 shares of the company's stock valued at $46,000 after buying an additional 1,038 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its stake in shares of Bicycle Therapeutics by 69.1% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 7,138 shares of the company's stock valued at $162,000 after buying an additional 2,918 shares during the period. XTX Topco Ltd acquired a new stake in shares of Bicycle Therapeutics in the 2nd quarter valued at $206,000. Finally, Crossmark Global Holdings Inc. bought a new stake in shares of Bicycle Therapeutics during the third quarter worth $257,000. 86.15% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

BCYC has been the subject of several recent research reports. Royal Bank of Canada reiterated an "outperform" rating and set a $35.00 target price on shares of Bicycle Therapeutics in a research report on Friday, November 1st. Needham & Company LLC reissued a "buy" rating and issued a $38.00 target price on shares of Bicycle Therapeutics in a research note on Thursday, October 31st. Stephens began coverage on Bicycle Therapeutics in a research report on Friday, November 8th. They set an "equal weight" rating and a $25.00 target price for the company. B. Riley cut Bicycle Therapeutics from a "buy" rating to a "neutral" rating and lowered their price target for the company from $33.00 to $28.00 in a research note on Wednesday, August 7th. Finally, JMP Securities reissued a "market outperform" rating and set a $32.00 price objective on shares of Bicycle Therapeutics in a research note on Monday, September 16th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $40.13.

Insider Buying and Selling at Bicycle Therapeutics

In related news, CEO Kevin Lee sold 3,212 shares of the stock in a transaction that occurred on Thursday, October 3rd. The stock was 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. This represents a 0.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Travis Alvin Thompson sold 6,256 shares of the company's stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $25.11, for a total value of $157,088.16. Following the sale, the chief accounting officer now owns 19,241 shares in the company, valued at approximately $483,141.51. This represents a 24.54 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 10,840 shares of company stock worth $259,128. Corporate insiders own 8.50% of the company's stock.

Bicycle Therapeutics Stock Performance

BCYC stock traded up $0.23 during mid-day trading on Wednesday, hitting $19.68. 170,112 shares of the company were exchanged, compared to its average volume of 362,412. The firm has a market cap of $935.78 million, a P/E ratio of -5.91 and a beta of 0.86. Bicycle Therapeutics plc has a 1-year low of $14.33 and a 1-year high of $28.67. The firm's 50 day simple moving average is $23.34 and its 200 day simple moving average is $22.92.

Bicycle Therapeutics (NASDAQ:BCYC - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The company reported ($0.74) EPS for the quarter, beating the consensus estimate of ($0.78) by $0.04. The business had revenue of $2.68 million for the quarter, compared to analysts' expectations of $6.82 million. Bicycle Therapeutics had a negative net margin of 450.64% and a negative return on equity of 27.35%. The firm's revenue was down 50.0% compared to the same quarter last year. During the same period in the previous year, the firm posted ($1.26) EPS. On average, equities research analysts predict that Bicycle Therapeutics plc will post -3.07 EPS for the current fiscal year.

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.