Tybourne Capital Management HK Ltd. Sells 115,178 Shares of Bicycle Therapeutics plc (NASDAQ:BCYC)

Tybourne Capital Management HK Ltd. lowered its holdings in Bicycle Therapeutics plc (NASDAQ:BCYC - Free Report) by 7.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,394,535 shares of the company's stock after selling 115,178 shares during the period. Bicycle Therapeutics comprises 8.8% of Tybourne Capital Management HK Ltd.'s holdings, making the stock its 6th biggest holding. Tybourne Capital Management HK Ltd. owned about 2.93% of Bicycle Therapeutics worth $31,558,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Price T Rowe Associates Inc. MD raised its position in shares of Bicycle Therapeutics by 45.1% during 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 during the period. Harbor Capital Advisors Inc. raised its holdings in Bicycle Therapeutics by 27.2% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 55,289 shares of the company's stock worth $1,119,000 after buying an additional 11,809 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in Bicycle Therapeutics by 0.6% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 888,081 shares of the company's stock worth $17,975,000 after buying an additional 4,976 shares during the period. Pinnacle Associates Ltd. lifted its stake in Bicycle Therapeutics by 202.2% during the second quarter. Pinnacle Associates Ltd. now owns 242,001 shares of the company's stock valued at $4,898,000 after buying an additional 161,911 shares in the last quarter. Finally, Natixis Advisors LLC acquired a new position in shares of Bicycle Therapeutics in the second quarter worth about $261,000. 86.15% of the stock is currently owned by institutional investors.

Bicycle Therapeutics Price Performance

BCYC traded down $0.05 during midday trading on Thursday, hitting $20.35. 238,848 shares of the company's stock traded hands, compared to its average volume of 363,872. The company has a market cap of $967.64 million, a PE ratio of -6.19 and a beta of 0.89. Bicycle Therapeutics plc has a one year low of $13.47 and a one year high of $28.67. The stock's fifty day simple moving average is $23.71 and its 200-day simple moving average is $22.97.

Bicycle Therapeutics (NASDAQ:BCYC - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The company reported ($0.74) earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $6.82 million. During the same quarter in the prior year, the company posted ($1.26) EPS. The firm's revenue was down 50.0% on a year-over-year basis. On average, research analysts expect that Bicycle Therapeutics plc will post -3.07 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Royal Bank of Canada restated an "outperform" rating and set a $35.00 price target 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 research note on Monday, September 9th. HC Wainwright reaffirmed a "buy" rating and issued a $55.00 target price on shares of Bicycle Therapeutics in a research report on Friday, November 1st. B. Riley downgraded Bicycle Therapeutics from a "buy" rating to a "neutral" rating and lowered their price target for the company from $33.00 to $28.00 in a report on Wednesday, August 7th. Finally, Oppenheimer reissued an "outperform" rating and issued a $48.00 price objective on shares of Bicycle Therapeutics in a research note on Wednesday, August 7th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $40.13.

Insider Buying and Selling

In other news, CAO Travis Alvin Thompson sold 6,256 shares of the 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 directly owns 19,241 shares of the company's stock, valued at approximately $483,141.51. This represents a 24.54 % decrease in their ownership of the stock. The transaction 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 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 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 position. The disclosure for this sale can be found here. Insiders have sold 10,840 shares of company stock worth $259,128 in the last quarter. 8.50% of the stock is currently owned by company 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.