Point72 Asset Management L.P. Has $47.12 Million Holdings in Bicycle Therapeutics plc (NASDAQ:BCYC)

Point72 Asset Management L.P. increased its stake in Bicycle Therapeutics plc (NASDAQ:BCYC) by 9.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,577,493 shares of the company’s stock after buying an additional 139,917 shares during the quarter. Point72 Asset Management L.P. owned approximately 0.07% of Bicycle Therapeutics worth $47,120,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BCYC. Janus Henderson Group PLC bought a new position in Bicycle Therapeutics during the 1st quarter worth $50,654,000. FIL Ltd bought a new position in Bicycle Therapeutics during the 1st quarter worth $15,628,000. Verition Fund Management LLC increased its position in Bicycle Therapeutics by 609.7% during the 1st quarter. Verition Fund Management LLC now owns 240,134 shares of the company’s stock worth $7,173,000 after buying an additional 206,300 shares during the period. Victory Capital Management Inc. increased its position in shares of Bicycle Therapeutics by 6.3% in the first quarter. Victory Capital Management Inc. now owns 179,992 shares of the company’s stock worth $5,376,000 after purchasing an additional 10,742 shares during the period. Finally, Ghost Tree Capital LLC bought a new position in shares of Bicycle Therapeutics in the first quarter worth $4,481,000. 47.45% of the stock is owned by institutional investors.

Shares of Bicycle Therapeutics stock opened at $34.82 on Thursday. The stock’s fifty day moving average is $30.81. The company has a quick ratio of 10.35, a current ratio of 10.35 and a debt-to-equity ratio of 0.21. Bicycle Therapeutics plc has a 12-month low of $15.25 and a 12-month high of $35.46.

Bicycle Therapeutics (NASDAQ:BCYC) last posted its quarterly earnings data on Thursday, May 6th. The company reported ($0.73) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.68) by ($0.05). Bicycle Therapeutics had a negative return on equity of 53.45% and a negative net margin of 504.81%. The business had revenue of $1.81 million during the quarter, compared to analysts’ expectations of $1.95 million. On average, equities analysts anticipate that Bicycle Therapeutics plc will post -2.79 EPS for the current year.

In related news, insider Nigel Crockett sold 72,701 shares of the business’s stock in a transaction on Tuesday, July 13th. The stock was sold at an average price of $32.44, for a total transaction of $2,358,420.44. Following the sale, the insider now directly owns 4,331 shares in the company, valued at approximately $140,497.64. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Kevin Lee sold 18,611 shares of the business’s stock in a transaction on Monday, April 26th. The shares were sold at an average price of $31.28, for a total value of $582,152.08. Following the sale, the chief executive officer now owns 273,345 shares in the company, valued at $8,550,231.60. The disclosure for this sale can be found here. Insiders have sold a total of 193,220 shares of company stock worth $6,150,076 in the last ninety days. Insiders own 17.90% of the company’s stock.

A number of research analysts recently commented on the company. Zacks Investment Research upgraded Bicycle Therapeutics from a “hold” rating to a “buy” rating and set a $38.00 price target on the stock in a research report on Monday. Oppenheimer raised their price objective on Bicycle Therapeutics from $38.00 to $44.00 in a research note on Tuesday, May 11th. JMP Securities initiated coverage on Bicycle Therapeutics in a research note on Tuesday, April 20th. They issued an “outperform” rating and a $53.00 price objective on the stock. HC Wainwright raised their price objective on Bicycle Therapeutics from $31.00 to $39.00 and gave the company a “buy” rating in a research note on Friday, May 7th. Finally, Piper Sandler lifted their price target on Bicycle Therapeutics from $39.00 to $46.00 and gave the company an “overweight” rating in a research note on Tuesday, July 13th. Seven investment analysts have rated the stock with a buy rating, Bicycle Therapeutics presently has a consensus rating of “Buy” and an average price target of $44.86.

About Bicycle Therapeutics

Bicycle Therapeutics plc, a clinical-stage biopharmaceutical company, develops a class of medicines for diseases that are underserved by existing therapeutics. Its lead product candidate is BT1718, a bicycle toxin conjugate (BTC), which is in Phase I/IIa clinical trials targeting tumors that express Membrane Type 1 matrix metalloprotease.

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Institutional Ownership by Quarter for Bicycle Therapeutics (NASDAQ:BCYC)

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