Principal Financial Group Inc. Lowers Stake in Bicycle Therapeutics plc (NASDAQ:BCYC)

Principal Financial Group Inc. reduced its holdings in shares of Bicycle Therapeutics plc (NASDAQ:BCYC - Free Report) by 8.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 406,470 shares of the company's stock after selling 36,671 shares during the quarter. Principal Financial Group Inc. owned 0.59% of Bicycle Therapeutics worth $5,691,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Point72 Asset Management L.P. raised its stake in Bicycle Therapeutics by 1,438.1% during the 3rd quarter. Point72 Asset Management L.P. now owns 899,799 shares of the company's stock valued at $20,362,000 after buying an additional 841,299 shares during the last quarter. Westfield Capital Management Co. LP lifted its holdings in Bicycle Therapeutics by 21.5% in the third quarter. Westfield Capital Management Co. LP now owns 1,850,945 shares of the company's stock valued at $41,887,000 after acquiring an additional 327,089 shares during the period. FMR LLC bought a new position in Bicycle Therapeutics in the third quarter valued at about $3,406,000. Harbor Capital Advisors Inc. boosted its position in Bicycle Therapeutics by 141.8% in the third quarter. Harbor Capital Advisors Inc. now owns 133,707 shares of the company's stock worth $3,026,000 after purchasing an additional 78,418 shares during the last quarter. Finally, State Street Corp grew its stake in shares of Bicycle Therapeutics by 233.5% during the 3rd 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 period. 86.15% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Bros. Advisors Lp Baker purchased 500,000 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was bought at an average cost of $15.34 per share, for a total transaction of $7,670,000.00. Following the completion of the transaction, the director now directly owns 9,995,274 shares in the company, valued at $153,327,503.16. This represents a 5.27 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Kevin Lee sold 9,038 shares of the firm's stock in a transaction dated 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 sale, the chief executive officer now owns 495,026 shares of the company's stock, 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. In the last ninety days, insiders sold 27,677 shares of company stock worth $392,413. 8.50% of the stock is currently owned by insiders.

Bicycle Therapeutics Stock Down 3.2 %

BCYC stock traded down $0.33 during midday trading on Tuesday, hitting $10.14. The company's stock had a trading volume of 462,898 shares, compared to its average volume of 302,294. Bicycle Therapeutics plc has a 12 month low of $10.07 and a 12 month high of $28.67. The company has a 50 day moving average of $13.11 and a two-hundred day moving average of $19.19. The firm has a market capitalization of $700.13 million, a price-to-earnings ratio of -3.08 and a beta of 0.93.

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

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Needham & Company LLC reiterated a "buy" rating and set a $30.00 price target on shares of Bicycle Therapeutics in a research note on Wednesday, February 26th. JMP Securities cut their price target on Bicycle Therapeutics from $32.00 to $26.00 and set a "market outperform" rating for the company in a report on Wednesday, December 18th. Stephens reaffirmed an "equal weight" rating and issued a $15.00 price objective on shares of Bicycle Therapeutics in a research note on Wednesday, January 22nd. HC Wainwright reiterated a "buy" rating and set a $33.00 price objective on shares of Bicycle Therapeutics in a research note on Wednesday, February 26th. Finally, 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 research note on Friday, December 13th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target 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.