Platinum Investment Management Ltd. Grows Position in Bicycle Therapeutics plc (NASDAQ:BCYC)

Platinum Investment Management Ltd. increased its holdings in Bicycle Therapeutics plc (NASDAQ:BCYC - Free Report) by 13.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 309,059 shares of the company's stock after purchasing an additional 36,910 shares during the period. Platinum Investment Management Ltd. owned approximately 0.45% of Bicycle Therapeutics worth $4,327,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in BCYC. FMR LLC purchased a new position in shares of Bicycle Therapeutics in the third quarter worth 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 worth $2,935,000 after purchasing an additional 32,313 shares during the period. Principal Financial Group Inc. purchased a new position in Bicycle Therapeutics in the 3rd quarter worth approximately $10,028,000. State Street Corp lifted its position in Bicycle Therapeutics by 233.5% in the third quarter. State Street Corp now owns 86,271 shares of the company's stock valued at $1,952,000 after purchasing an additional 60,399 shares during the last quarter. Finally, Jane Street Group LLC boosted its stake in shares of Bicycle Therapeutics by 35.7% during the third quarter. Jane Street Group LLC now owns 20,180 shares of the company's stock valued at $457,000 after purchasing an additional 5,310 shares during the period. Institutional investors own 86.15% of the company's stock.

Insider Buying and Selling

In related news, insider Santiago Arroyo sold 4,943 shares of the company's stock in a transaction dated 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 $973,013.13. The trade was a 6.68 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Kevin Lee sold 9,038 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $14.09, for a total transaction of $127,345.42. Following the sale, the chief executive officer now directly owns 495,026 shares in the company, valued at $6,974,916.34. This trade represents a 1.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 27,677 shares of company stock valued at $392,413 over the last quarter. Corporate insiders own 8.50% of the company's stock.

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Bicycle Therapeutics Stock Down 4.3 %

Shares of NASDAQ:BCYC traded down $0.41 during trading on Friday, hitting $9.08. The stock had a trading volume of 258,785 shares, compared to its average volume of 343,641. The company has a market capitalization of $628.35 million, a PE ratio of -2.76 and a beta of 1.12. The firm's fifty day moving average is $11.85 and its 200 day moving average is $18.01. Bicycle Therapeutics plc has a 12 month low of $9.00 and a 12 month high of $28.67.

Bicycle Therapeutics (NASDAQ:BCYC - Get Free Report) last announced its quarterly earnings data on Tuesday, February 25th. The company reported ($0.75) EPS for the quarter, beating the consensus estimate of ($0.85) by $0.10. The business had revenue of $3.70 million during the quarter, compared to analyst estimates of $5.47 million. Bicycle Therapeutics had a negative return on equity of 27.35% and a negative net margin of 450.64%. The company's revenue for the quarter was down 30.2% on a year-over-year basis. During the same quarter last year, the firm posted ($1.16) earnings per share. Equities research analysts expect that Bicycle Therapeutics plc will post -3.06 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently commented on BCYC shares. B. Riley lowered their price target on shares of Bicycle Therapeutics from $28.00 to $17.00 and set a "neutral" rating for the company in a report on Friday, December 13th. Stephens reiterated an "equal weight" rating and set a $15.00 target price on shares of Bicycle Therapeutics in a report on Wednesday, January 22nd. JMP Securities reduced their price target on Bicycle Therapeutics from $32.00 to $26.00 and set a "market outperform" rating on the stock in a report on Wednesday, December 18th. HC Wainwright reaffirmed a "buy" rating and set a $33.00 price target on shares of Bicycle Therapeutics in a research report on Wednesday, February 26th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $30.00 price objective on shares of Bicycle Therapeutics in a research report on Tuesday, March 11th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Bicycle Therapeutics presently has an average rating of "Moderate Buy" and an average target price of $29.14.

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.