Point72 Asset Management L.P. Raises Stock Holdings in Bicycle Therapeutics plc (NASDAQ:BCYC)

Point72 Asset Management L.P. lifted its stake in shares of Bicycle Therapeutics plc (NASDAQ:BCYC - Free Report) by 1,438.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 899,799 shares of the company's stock after purchasing an additional 841,299 shares during the period. Point72 Asset Management L.P. owned 1.89% of Bicycle Therapeutics worth $20,362,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Assetmark Inc. bought a new position in Bicycle Therapeutics during the third quarter worth about $34,000. GAMMA Investing LLC lifted its stake in shares of Bicycle Therapeutics by 105.1% during 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 in the last quarter. China Universal Asset Management Co. Ltd. boosted its holdings in 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 worth $162,000 after buying an additional 2,918 shares during the period. XTX Topco Ltd purchased a new position in Bicycle Therapeutics in the 2nd quarter valued at approximately $206,000. Finally, Crossmark Global Holdings Inc. bought a new stake in Bicycle Therapeutics during the 3rd quarter valued at $257,000. Institutional investors own 86.15% of the company's stock.

Bicycle Therapeutics Stock Up 3.9 %

Shares of BCYC stock traded up $0.74 during trading on Friday, hitting $19.95. The company had a trading volume of 139,616 shares, compared to its average volume of 409,534. The stock's 50-day moving average is $23.12 and its two-hundred day moving average is $22.86. Bicycle Therapeutics plc has a 52 week low of $14.39 and a 52 week high of $28.67.

Bicycle Therapeutics (NASDAQ:BCYC - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The company reported ($0.74) EPS for the quarter, topping 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 firm had revenue of $2.68 million for the quarter, compared to analyst estimates of $6.82 million. During the same quarter in the prior year, the firm earned ($1.26) EPS. The business's revenue for the quarter was down 50.0% compared to the same quarter last year. Sell-side analysts predict that Bicycle Therapeutics plc will post -3.05 EPS for the current fiscal year.

Insider Activity at Bicycle Therapeutics

In other Bicycle Therapeutics news, 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 completion of the sale, the chief accounting officer now owns 19,241 shares of the company's stock, valued at $483,141.51. This represents a 24.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Kevin Lee sold 3,212 shares of Bicycle Therapeutics 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 transaction, the chief executive officer now directly owns 380,864 shares in the company, valued at $8,478,032.64. This trade represents a 0.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,840 shares of company stock valued at $259,128 over the last 90 days. 8.50% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

BCYC has been the subject of a number of analyst reports. Stephens initiated coverage on Bicycle Therapeutics in a report on Friday, November 8th. They issued an "equal weight" rating and a $25.00 price target for the company. Needham & Company LLC restated a "buy" rating and issued a $38.00 target price on shares of Bicycle Therapeutics in a research note on Thursday, October 31st. HC Wainwright reiterated a "buy" rating and set a $55.00 price target on shares of Bicycle Therapeutics in a research report on Friday, November 1st. Cantor Fitzgerald restated an "overweight" rating on shares of Bicycle Therapeutics in a research report on Monday, September 9th. Finally, JMP Securities reaffirmed 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 analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $40.13.

Bicycle Therapeutics Company 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.