Assetmark Inc. Makes New Investment in Bicycle Therapeutics plc (NASDAQ:BCYC)

Assetmark Inc. purchased a new stake in Bicycle Therapeutics plc (NASDAQ:BCYC) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 1,519 shares of the company’s stock, valued at approximately $34,000.

Several other institutional investors also recently added to or reduced their stakes in BCYC. Baker BROS. Advisors LP increased its stake 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 acquiring an additional 3,152,433 shares during the period. Avoro Capital Advisors LLC bought a new position in shares of Bicycle Therapeutics in the second quarter valued at about $14,168,000. Perceptive Advisors LLC bought a new position in shares of Bicycle Therapeutics in the second quarter worth about $11,577,000. Principal Financial Group Inc. bought a new position in Bicycle Therapeutics in the 3rd quarter worth approximately $10,028,000. Finally, Armistice Capital LLC lifted its stake in shares of Bicycle Therapeutics by 17.9% during the second quarter. Armistice Capital LLC now owns 1,972,000 shares of the company’s stock valued at $39,913,000 after acquiring an additional 300,000 shares during the period. 86.15% of the stock is owned by institutional investors.

Bicycle Therapeutics Stock Up 0.1 %

Shares of NASDAQ:BCYC opened at $20.48 on Wednesday. Bicycle Therapeutics plc has a 12-month low of $13.07 and a 12-month high of $28.67. The business has a 50 day moving average of $24.37 and a 200-day moving average of $23.10. The stock has a market cap of $973.82 million, a PE ratio of -6.22 and a beta of 0.89.

Bicycle Therapeutics (NASDAQ:BCYC) last released its quarterly earnings results on Thursday, October 31st. The company reported ($0.74) earnings per share for the quarter, topping the consensus estimate of ($0.78) by $0.04. Bicycle Therapeutics had a negative return on equity of 27.35% and a negative net margin of 450.64%. The business had revenue of $2.68 million during the quarter, compared to analysts’ expectations of $6.82 million. The firm’s revenue for the quarter was down 50.0% compared to the same quarter last year. During the same period last year, the firm posted ($1.26) EPS. Equities research analysts expect that Bicycle Therapeutics plc will post -3.01 earnings per share for the current year.

Insider Buying and Selling

In related news, CAO Travis Alvin Thompson sold 6,256 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $25.11, for a total transaction of $157,088.16. Following the completion of the sale, the chief accounting officer now owns 19,241 shares of the company’s stock, valued at $483,141.51. This represents a 24.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Kevin Lee sold 3,212 shares of the stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $22.26, for a total transaction of $71,499.12. Following the sale, the chief executive officer now owns 380,864 shares in the company, valued at $8,478,032.64. The trade was a 0.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,840 shares of company stock valued at $259,128. 8.50% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on BCYC shares. B. Riley downgraded Bicycle Therapeutics from a “buy” rating to a “neutral” rating and cut their price target for the company from $33.00 to $28.00 in a research note on Wednesday, August 7th. HC Wainwright reaffirmed a “buy” rating and issued a $55.00 price objective on shares of Bicycle Therapeutics in a research report on Friday, November 1st. Stephens began coverage on Bicycle Therapeutics in a research report on Friday, November 8th. They set an “equal weight” rating and a $25.00 price target for the company. Needham & Company LLC restated a “buy” rating and issued a $38.00 price objective on shares of Bicycle Therapeutics in a report on Thursday, October 31st. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Bicycle Therapeutics in a research note on Monday, September 9th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $40.13.

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.