Principal Financial Group Inc. Makes New Investment in Bicycle Therapeutics plc (NASDAQ:BCYC)

Principal Financial Group Inc. bought a new stake in Bicycle Therapeutics plc (NASDAQ:BCYC - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 443,141 shares of the company's stock, valued at approximately $10,028,000. Principal Financial Group Inc. owned approximately 1.04% of Bicycle Therapeutics as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of BCYC. Price T Rowe Associates Inc. MD boosted its holdings in Bicycle Therapeutics by 45.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 401,646 shares of the company's stock worth $10,001,000 after purchasing an additional 124,809 shares in the last quarter. Baker BROS. Advisors LP lifted its position in shares of Bicycle Therapeutics by 176.1% during the 1st quarter. Baker BROS. Advisors LP now owns 4,942,823 shares of the company's stock worth $123,076,000 after purchasing an additional 3,152,433 shares during the last quarter. Harbor Capital Advisors Inc. boosted its stake in Bicycle Therapeutics by 27.2% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 55,289 shares of the company's stock valued at $1,119,000 after purchasing an additional 11,809 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in shares of Bicycle Therapeutics by 0.6% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 888,081 shares of the company's stock worth $17,975,000 after acquiring an additional 4,976 shares during the last quarter. Finally, Pinnacle Associates Ltd. increased its holdings in shares of Bicycle Therapeutics by 202.2% during the 2nd quarter. Pinnacle Associates Ltd. now owns 242,001 shares of the company's stock worth $4,898,000 after purchasing an additional 161,911 shares during the period. 86.15% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Bicycle Therapeutics news, CAO Travis Alvin Thompson sold 6,256 shares of the business'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. The trade was a 24.54 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Kevin Lee sold 3,212 shares of the business's stock in a transaction 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 sale, the chief executive officer now directly owns 380,864 shares in the company, valued at approximately $8,478,032.64. This represents a 0.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 10,840 shares of company stock worth $259,128 over the last ninety days. 8.50% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have commented on BCYC shares. Needham & Company LLC reiterated a "buy" rating and issued a $38.00 price objective on shares of Bicycle Therapeutics in a research report on Thursday, October 31st. B. Riley cut shares of Bicycle Therapeutics from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $33.00 to $28.00 in a research note on Wednesday, August 7th. Royal Bank of Canada reissued an "outperform" rating and issued a $35.00 target price on shares of Bicycle Therapeutics in a report on Friday, November 1st. Cantor Fitzgerald reissued an "overweight" rating on shares of Bicycle Therapeutics in a report on Monday, September 9th. Finally, JMP Securities reissued a "market outperform" rating and issued a $32.00 price target on shares of Bicycle Therapeutics in a report on Monday, September 16th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Bicycle Therapeutics has a consensus rating of "Moderate Buy" and an average target price of $40.13.

Bicycle Therapeutics Stock Up 0.1 %

NASDAQ:BCYC traded up $0.02 during trading hours on Tuesday, hitting $20.48. The stock had a trading volume of 129,744 shares, compared to its average volume of 356,446. The business's 50 day moving average is $24.62 and its 200-day moving average is $23.15. Bicycle Therapeutics plc has a one year low of $13.07 and a one year high of $28.67.

Bicycle Therapeutics (NASDAQ:BCYC - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The company reported ($0.74) EPS for the quarter, beating analysts' consensus estimates of ($0.78) by $0.04. The business had revenue of $2.68 million during 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 quarterly revenue was down 50.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($1.26) EPS. Analysts forecast that Bicycle Therapeutics plc will post -3.01 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.