Platinum Investment Management Ltd. Buys 36,910 Shares of Bicycle Therapeutics plc (NASDAQ:BCYC)

Platinum Investment Management Ltd. grew its stake in Bicycle Therapeutics plc (NASDAQ:BCYC) by 13.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 309,059 shares of the company’s stock after acquiring an additional 36,910 shares during the period. Platinum Investment Management Ltd. owned 0.45% of Bicycle Therapeutics worth $4,327,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Candriam S.C.A. raised its stake in shares of Bicycle Therapeutics by 3.5% in the fourth quarter. Candriam S.C.A. now owns 1,087,876 shares of the company’s stock worth $15,230,000 after acquiring an additional 37,278 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its stake in shares of Bicycle Therapeutics by 30.7% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 9,329 shares of the company’s stock worth $131,000 after acquiring an additional 2,191 shares during the last quarter. Avior Wealth Management LLC bought a new position in shares of Bicycle Therapeutics in the fourth quarter worth about $57,000. JPMorgan Chase & Co. raised its stake in shares of Bicycle Therapeutics by 26.8% in the third quarter. JPMorgan Chase & Co. now owns 8,424 shares of the company’s stock worth $191,000 after acquiring an additional 1,782 shares during the last quarter. Finally, Principal Financial Group Inc. bought a new stake in shares of Bicycle Therapeutics during the third quarter worth approximately $10,028,000. 86.15% of the stock is owned by institutional investors.

Bicycle Therapeutics Stock Down 4.1 %

Shares of BCYC stock opened at $9.57 on Wednesday. The firm has a fifty day moving average of $12.12 and a 200-day moving average of $18.24. Bicycle Therapeutics plc has a 12-month low of $9.00 and a 12-month high of $28.67. The company has a market capitalization of $660.77 million, a price-to-earnings ratio of -2.91 and a beta of 1.12.

Bicycle Therapeutics (NASDAQ:BCYC) last issued its quarterly earnings data on Tuesday, February 25th. The company reported ($0.75) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.85) by $0.10. Bicycle Therapeutics had a negative net margin of 450.64% and a negative return on equity of 27.35%. The company had revenue of $3.70 million during the quarter, compared to the consensus estimate of $5.47 million. During the same quarter in the prior year, the firm earned ($1.16) earnings per share. The firm’s revenue was down 30.2% compared to the same quarter last year. On average, equities analysts expect that Bicycle Therapeutics plc will post -3.06 EPS for the current year.

Analyst Ratings Changes

BCYC has been the subject of a number of recent research reports. HC Wainwright reissued a “buy” rating and set a $33.00 price target on shares of Bicycle Therapeutics in a research note on Wednesday, February 26th. Needham & Company LLC reissued a “buy” rating and set a $30.00 price target on shares of Bicycle Therapeutics in a research note on Tuesday, March 11th. B. Riley lowered their target price on shares of Bicycle Therapeutics from $28.00 to $17.00 and set a “neutral” rating for the company in a research note on Friday, December 13th. JMP Securities lowered their target price on shares of 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. Finally, Stephens reaffirmed an “equal weight” rating and issued a $15.00 target price on shares of Bicycle Therapeutics in a research note on Wednesday, January 22nd. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Bicycle Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $29.14.

Insider Activity at Bicycle Therapeutics

In other Bicycle Therapeutics news, insider Santiago Arroyo sold 4,943 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $14.09, for a total value of $69,646.87. Following the completion of the sale, the insider now owns 69,057 shares in the company, valued at $973,013.13. This trade represents a 6.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Travis Alvin Thompson sold 2,686 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $15.00, for a total transaction of $40,290.00. Following the sale, the chief accounting officer now owns 32,146 shares of the company’s stock, valued at approximately $482,190. This represents a 7.71 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 27,677 shares of company stock valued at $392,413. Corporate insiders own 8.50% of the company’s stock.

Bicycle Therapeutics Company 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.