State Street Corp Increases Stake in Bicycle Therapeutics plc (NASDAQ:BCYC)

State Street Corp boosted its stake in Bicycle Therapeutics plc (NASDAQ:BCYC - Free Report) by 233.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 86,271 shares of the company's stock after purchasing an additional 60,399 shares during the quarter. State Street Corp owned about 0.18% of Bicycle Therapeutics worth $1,952,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. GAMMA Investing LLC raised its holdings 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. L & S Advisors Inc grew its position in Bicycle Therapeutics by 2.4% during the third quarter. L & S Advisors Inc now owns 59,735 shares of the company's stock valued at $1,352,000 after acquiring an additional 1,400 shares during the last quarter. Assetmark Inc. purchased a new position in shares of Bicycle Therapeutics during the third quarter worth approximately $34,000. China Universal Asset Management Co. Ltd. lifted its holdings 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 worth $162,000 after acquiring an additional 2,918 shares during the last quarter. Finally, Handelsbanken Fonder AB boosted its stake in shares of Bicycle Therapeutics by 2.4% in the 3rd quarter. Handelsbanken Fonder AB now owns 218,700 shares of the company's stock valued at $4,949,000 after purchasing an additional 5,200 shares in the last quarter. 86.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BCYC has been the topic of a number of analyst reports. Needham & Company LLC reiterated a "buy" rating and issued a $38.00 target price on shares of Bicycle Therapeutics in a research report on Thursday, October 31st. JMP Securities lowered their target price on Bicycle Therapeutics from $32.00 to $26.00 and set a "market outperform" rating for the company in a research note on Wednesday, December 18th. HC Wainwright reduced their price target on Bicycle Therapeutics from $55.00 to $33.00 and set a "buy" rating on the stock in a research report on Monday, December 16th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Bicycle Therapeutics in a research note on Monday, September 9th. Finally, Stephens started coverage on Bicycle Therapeutics in a research note on Friday, November 8th. They set an "equal weight" rating and a $25.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $35.25.

Bicycle Therapeutics Stock Performance

Shares of Bicycle Therapeutics stock traded up $0.36 during midday trading on Thursday, reaching $14.36. 333,515 shares of the company's stock traded hands, compared to its average volume of 405,997. The stock has a 50 day moving average of $19.67 and a 200-day moving average of $21.93. Bicycle Therapeutics plc has a 12 month low of $12.17 and a 12 month high of $28.67. The company has a market cap of $991.50 million, a PE ratio of -4.36 and a beta of 0.86.

Bicycle Therapeutics (NASDAQ:BCYC - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The company reported ($0.74) EPS for the quarter, topping the consensus estimate of ($0.78) by $0.04. The business had revenue of $2.68 million during the quarter, compared to analyst estimates of $6.82 million. Bicycle Therapeutics had a negative net margin of 450.64% and a negative return on equity of 27.35%. The company's revenue for the quarter was down 50.0% on a year-over-year basis. During the same period in the prior year, the business earned ($1.26) EPS. On average, equities analysts anticipate that Bicycle Therapeutics plc will post -3.05 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Bros. Advisors Lp Baker purchased 500,000 shares of Bicycle Therapeutics stock in a transaction that occurred on Monday, December 16th. The shares were bought at an average cost of $15.34 per share, with a total value of $7,670,000.00. Following the completion of the purchase, the director now directly owns 9,995,274 shares in the company, valued at approximately $153,327,503.16. This trade represents a 5.27 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Travis Alvin Thompson sold 6,256 shares of the firm's stock in a transaction on Monday, November 11th. The shares were sold at an average price of $25.11, for a total value of $157,088.16. Following the transaction, the chief accounting officer now directly owns 19,241 shares of the company's stock, valued at $483,141.51. This represents a 24.54 % decrease in their position. The disclosure for this sale can be found here. 8.50% of the stock is owned by insiders.

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.