First Light Asset Management LLC Buys 191,717 Shares of Bicycle Therapeutics plc (NASDAQ:BCYC)

First Light Asset Management LLC grew its position in shares of Bicycle Therapeutics plc (NASDAQ:BCYC) by 16.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,384,768 shares of the company’s stock after purchasing an additional 191,717 shares during the period. Bicycle Therapeutics comprises about 2.5% of First Light Asset Management LLC’s holdings, making the stock its 21st largest holding. First Light Asset Management LLC owned approximately 3.24% of Bicycle Therapeutics worth $28,028,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD grew its position in 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 valued at $10,001,000 after acquiring an additional 124,809 shares during the last quarter. Parkman Healthcare Partners LLC boosted its position in Bicycle Therapeutics by 155.0% during the fourth 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 period. Westfield Capital Management Co. LP grew its stake in shares of Bicycle Therapeutics by 13.3% during the first quarter. Westfield Capital Management Co. LP now owns 1,038,917 shares of the company’s stock valued at $25,869,000 after buying an additional 121,613 shares during the last quarter. TD Asset Management Inc increased its holdings in shares of Bicycle Therapeutics by 76.7% in the second quarter. TD Asset Management Inc now owns 97,186 shares of the company’s stock worth $1,967,000 after buying an additional 42,200 shares during the period. Finally, BNP Paribas Financial Markets increased its holdings in shares of Bicycle Therapeutics by 10,489.4% in the fourth quarter. BNP Paribas Financial Markets now owns 36,851 shares of the company’s stock worth $666,000 after buying an additional 36,503 shares during the period. 86.15% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Bicycle Therapeutics news, CEO Kevin Lee sold 3,194 shares of Bicycle Therapeutics stock in a transaction on Wednesday, July 3rd. The stock was 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 owns 384,076 shares in the company, valued at $7,543,252.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last quarter, insiders have sold 4,555 shares of company stock worth $89,460. 8.50% of the stock is currently owned by company insiders.

Bicycle Therapeutics Stock Down 5.7 %

Shares of NASDAQ:BCYC opened at $23.97 on Tuesday. The firm has a market capitalization of $1.03 billion, a P/E ratio of -5.39 and a beta of 0.90. The stock has a 50 day moving average price of $23.46 and a 200-day moving average price of $22.99. Bicycle Therapeutics plc has a 52-week low of $12.54 and a 52-week high of $28.20. The company has a debt-to-equity ratio of 0.01, a quick ratio of 14.77 and a current ratio of 14.77.

Bicycle Therapeutics (NASDAQ:BCYC) last announced its 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. Bicycle Therapeutics had a negative net margin of 417.88% and a negative return on equity of 32.80%. The firm had revenue of $9.36 million for the quarter, compared to analysts’ expectations of $6.13 million. The business’s revenue for the quarter was down 17.9% on a year-over-year basis. As a group, equities research analysts anticipate that Bicycle Therapeutics plc will post -3.17 EPS for the current fiscal year.

Wall Street Analyst Weigh In

BCYC has been the topic of a number of analyst reports. Royal Bank of Canada initiated coverage on Bicycle Therapeutics in a research note on Friday, September 6th. They issued an “outperform” rating and a $35.00 price target on the stock. JMP Securities reissued a “market outperform” rating and set a $32.00 price target on shares of Bicycle Therapeutics in a research report on Monday, September 16th. HC Wainwright reaffirmed a “buy” rating and set a $55.00 price objective on shares of Bicycle Therapeutics in a research note on Monday, September 16th. Oppenheimer reissued an “outperform” rating and issued a $48.00 target price on shares of Bicycle Therapeutics in a research note on Wednesday, August 7th. Finally, B. Riley lowered 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 research report on Wednesday, August 7th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Bicycle Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $44.56.

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.