Bicycle Therapeutics plc (NASDAQ:BCYC) Shares Acquired by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company increased its stake in shares of Bicycle Therapeutics plc (NASDAQ:BCYC - Free Report) by 33.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 129,705 shares of the company's stock after buying an additional 32,313 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.27% of Bicycle Therapeutics worth $2,935,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Assetmark Inc. purchased a new stake in Bicycle Therapeutics in the 3rd quarter worth approximately $34,000. GAMMA Investing LLC boosted its stake in Bicycle Therapeutics by 105.1% during the third quarter. GAMMA Investing LLC now owns 2,026 shares of the company's stock worth $46,000 after buying an additional 1,038 shares during the period. China Universal Asset Management Co. Ltd. increased its position in shares of Bicycle Therapeutics by 69.1% during the third quarter. China Universal Asset Management Co. Ltd. now owns 7,138 shares of the company's stock valued at $162,000 after acquiring an additional 2,918 shares during the last quarter. XTX Topco Ltd purchased a new stake in shares of Bicycle Therapeutics in the 2nd quarter valued at approximately $206,000. Finally, Crossmark Global Holdings Inc. purchased a new position in shares of Bicycle Therapeutics during the 3rd quarter worth approximately $257,000. 86.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BCYC has been the topic of several recent research reports. Needham & Company LLC reaffirmed a "buy" rating and set a $38.00 target price on shares of Bicycle Therapeutics in a research note on Thursday, October 31st. Royal Bank of Canada reiterated an "outperform" rating and issued a $35.00 price objective on shares of Bicycle Therapeutics in a report on Friday, November 1st. JMP Securities reissued a "market outperform" rating and issued a $32.00 target price on shares of Bicycle Therapeutics in a report on Monday, September 16th. HC Wainwright reiterated a "buy" rating and set a $55.00 target price on shares of Bicycle Therapeutics in a research note on Friday, November 1st. Finally, Stephens assumed coverage on shares of Bicycle Therapeutics in a research report on Friday, November 8th. They issued an "equal weight" rating and a $25.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $40.13.

Bicycle Therapeutics Price Performance

Shares of BCYC stock traded up $0.74 during midday trading on Friday, reaching $19.95. 139,616 shares of the company traded hands, compared to its average volume of 409,534. The firm's 50 day simple moving average is $23.12 and its two-hundred day simple moving average is $22.88. The firm has a market cap of $1.38 billion, a PE ratio of -6.06 and a beta of 0.86. Bicycle Therapeutics plc has a 1-year low of $14.39 and a 1-year high of $28.67.

Bicycle Therapeutics (NASDAQ:BCYC - Get Free Report) last posted its 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 return on equity of 27.35% and a negative net margin of 450.64%. The company had revenue of $2.68 million for the quarter, compared to the consensus estimate of $6.82 million. During the same period in the previous year, the business earned ($1.26) earnings per share. Bicycle Therapeutics's quarterly revenue was down 50.0% compared to the same quarter last year. As a group, research analysts anticipate that Bicycle Therapeutics plc will post -3.05 earnings per share for the current fiscal year.

Insider Buying and Selling at Bicycle Therapeutics

In related news, CAO Travis Alvin Thompson sold 6,256 shares of the firm's stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $25.11, for a total transaction 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. This trade represents a 24.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 completion of the sale, the chief executive officer now directly owns 380,864 shares of the company's stock, valued at $8,478,032.64. The trade was a 0.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 10,840 shares of company stock worth $259,128. 8.50% of the stock is owned by corporate insiders.

About Bicycle Therapeutics

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.