PNC Financial Services Group Inc. Purchases Shares of 7,560 Bicycle Therapeutics plc (NASDAQ:BCYC)

PNC Financial Services Group Inc. acquired a new position in Bicycle Therapeutics plc (NASDAQ:BCYC) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 7,560 shares of the company’s stock, valued at approximately $137,000.

A number of other large investors also recently modified their holdings of BCYC. Westfield Capital Management Co. LP purchased a new position in Bicycle Therapeutics during the 4th quarter worth $16,585,000. Armistice Capital LLC boosted its holdings in Bicycle Therapeutics by 53.6% during the fourth quarter. Armistice Capital LLC now owns 1,536,000 shares of the company’s stock worth $27,771,000 after purchasing an additional 536,000 shares during the last quarter. Polar Capital Holdings Plc grew its position in Bicycle Therapeutics by 33.2% in the 3rd quarter. Polar Capital Holdings Plc now owns 1,011,500 shares of the company’s stock worth $20,321,000 after purchasing an additional 252,000 shares in the last quarter. Parkman Healthcare Partners LLC increased its stake in Bicycle Therapeutics by 155.0% in the 4th quarter. Parkman Healthcare Partners LLC now owns 312,889 shares of the company’s stock valued at $5,657,000 after buying an additional 190,168 shares during the last quarter. Finally, Trexquant Investment LP lifted its position in shares of Bicycle Therapeutics by 177.6% during the 4th quarter. Trexquant Investment LP now owns 196,323 shares of the company’s stock worth $3,550,000 after buying an additional 125,604 shares in the last quarter. Institutional investors own 86.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on BCYC. Needham & Company LLC reaffirmed a “buy” rating and set a $43.00 target price on shares of Bicycle Therapeutics in a research report on Wednesday, April 10th. HC Wainwright reaffirmed a “buy” rating and issued a $55.00 price objective on shares of Bicycle Therapeutics in a research report on Friday, May 3rd. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $46.86.

Bicycle Therapeutics Price Performance

Shares of NASDAQ:BCYC opened at $19.58 on Friday. The firm has a market capitalization of $837.63 million, a PE ratio of -4.40 and a beta of 0.93. The company has a quick ratio of 10.42, a current ratio of 10.42 and a debt-to-equity ratio of 0.09. The company has a 50-day moving average price of $22.24 and a two-hundred day moving average price of $21.59. Bicycle Therapeutics plc has a twelve month low of $12.54 and a twelve month high of $27.50.

Bicycle Therapeutics (NASDAQ:BCYC) last released its quarterly earnings data on Thursday, May 2nd. The company reported ($0.62) EPS for the quarter, topping the consensus estimate of ($1.25) by $0.63. Bicycle Therapeutics had a negative net margin of 404.14% and a negative return on equity of 49.35%. The company had revenue of $19.53 million during the quarter, compared to the consensus estimate of $6.06 million. The firm’s revenue for the quarter was up 298.9% on a year-over-year basis. Equities analysts forecast that Bicycle Therapeutics plc will post -4.44 EPS for the current year.

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.