HighVista Strategies LLC Sells 31,038 Shares of Bicycle Therapeutics plc (NASDAQ:BCYC)

HighVista Strategies LLC lessened its holdings in shares of Bicycle Therapeutics plc (NASDAQ:BCYC) by 19.6% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 127,255 shares of the company’s stock after selling 31,038 shares during the period. HighVista Strategies LLC owned approximately 0.30% of Bicycle Therapeutics worth $2,576,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Baker BROS. Advisors LP boosted its holdings in Bicycle Therapeutics by 176.1% during the first quarter. Baker BROS. Advisors LP now owns 4,942,823 shares of the company’s stock valued at $123,076,000 after purchasing an additional 3,152,433 shares in the last quarter. Armistice Capital LLC grew its holdings in shares of Bicycle Therapeutics by 53.6% in the 4th 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. Westfield Capital Management Co. LP increased its position in shares of Bicycle Therapeutics by 13.3% during the 1st quarter. Westfield Capital Management Co. LP now owns 1,038,917 shares of the company’s stock worth $25,869,000 after purchasing an additional 121,613 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted 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 valued at $17,975,000 after purchasing an additional 4,976 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in Bicycle Therapeutics by 45.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 401,646 shares of the company’s stock valued at $10,001,000 after buying an additional 124,809 shares in the last quarter. Institutional investors and hedge funds own 86.15% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. JMP Securities reaffirmed a “market outperform” rating and set a $32.00 price objective on shares of Bicycle Therapeutics in a report on Monday, September 16th. HC Wainwright restated a “buy” rating and issued a $55.00 price objective on shares of Bicycle Therapeutics in a report on Monday, September 16th. Needham & Company LLC restated a “buy” rating and set a $38.00 target price on shares of Bicycle Therapeutics in a report on Monday, September 16th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Bicycle Therapeutics in a research note on Monday, September 9th. Finally, Royal Bank of Canada began coverage on Bicycle Therapeutics in a report on Friday, September 6th. They set an “outperform” rating and a $35.00 price objective on the stock. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $44.56.

Insider Transactions at Bicycle Therapeutics

In related news, CEO Kevin Lee sold 3,194 shares of the company’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $19.64, for a total transaction of $62,730.16. Following the completion of the transaction, the chief executive officer now directly owns 384,076 shares in the company, valued at approximately $7,543,252.64. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Over the last 90 days, insiders sold 4,555 shares of company stock valued at $89,460. 8.50% of the stock is currently owned by insiders.

Bicycle Therapeutics Stock Performance

NASDAQ BCYC opened at $25.41 on Monday. The firm has a market capitalization of $1.09 billion, a P/E ratio of -5.71 and a beta of 0.90. The company has a current ratio of 14.77, a quick ratio of 14.77 and a debt-to-equity ratio of 0.01. The firm’s fifty day moving average price is $23.43 and its two-hundred day moving average price is $23.00. Bicycle Therapeutics plc has a 1 year low of $12.54 and a 1 year high of $28.20.

Bicycle Therapeutics (NASDAQ:BCYC) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($0.77) EPS for the quarter, beating analysts’ consensus estimates of ($1.10) by $0.33. The business had revenue of $9.36 million for the quarter, compared to analyst estimates of $6.13 million. Bicycle Therapeutics had a negative net margin of 417.88% and a negative return on equity of 32.80%. The business’s revenue for the quarter was down 17.9% on a year-over-year basis. As a group, research analysts anticipate that Bicycle Therapeutics plc will post -3.17 EPS for the current year.

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.