The Manufacturers Life Insurance Company Increases Stock Position in Bicycle Therapeutics plc (NASDAQ:BCYC)

The Manufacturers Life Insurance Company grew its stake in Bicycle Therapeutics plc (NASDAQ:BCYC) by 33.2% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 129,705 shares of the company’s stock after acquiring an additional 32,313 shares during the period. The Manufacturers Life Insurance Company owned about 0.27% of Bicycle Therapeutics worth $2,935,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the stock. GAMMA Investing LLC raised its position in Bicycle Therapeutics by 105.1% in the third quarter. GAMMA Investing LLC now owns 2,026 shares of the company’s stock valued at $46,000 after purchasing an additional 1,038 shares during the period. L & S Advisors Inc grew its stake in shares of Bicycle Therapeutics by 2.4% in the third quarter. L & S Advisors Inc now owns 59,735 shares of the company’s stock valued at $1,352,000 after buying an additional 1,400 shares in the last quarter. Assetmark Inc. purchased a new stake in shares of Bicycle Therapeutics in the 3rd quarter valued at $34,000. China Universal Asset Management Co. Ltd. lifted its stake in Bicycle Therapeutics by 69.1% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 7,138 shares of the company’s stock worth $162,000 after acquiring an additional 2,918 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted 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 acquiring an additional 4,976 shares during the period. 86.15% of the stock is currently owned by institutional investors and hedge funds.

Bicycle Therapeutics Stock Performance

NASDAQ:BCYC opened at $19.95 on Friday. Bicycle Therapeutics plc has a 1 year low of $14.39 and a 1 year high of $28.67. The stock has a market cap of $1.38 billion, a P/E ratio of -6.06 and a beta of 0.86. The stock has a 50-day simple moving average of $23.12 and a 200-day simple moving average of $22.87.

Bicycle Therapeutics (NASDAQ:BCYC) last released its quarterly earnings data on Thursday, October 31st. The company reported ($0.74) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.78) by $0.04. Bicycle Therapeutics had a negative net margin of 450.64% and a negative return on equity of 27.35%. The company had revenue of $2.68 million for the quarter, compared to analysts’ expectations of $6.82 million. During the same quarter last year, the company earned ($1.26) earnings per share. The firm’s revenue for the quarter was down 50.0% on a year-over-year basis. On average, equities research analysts predict that Bicycle Therapeutics plc will post -3.05 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on BCYC shares. Royal Bank of Canada reiterated an “outperform” rating and set a $35.00 price target on shares of Bicycle Therapeutics in a research note on Friday, November 1st. Needham & Company LLC reiterated a “buy” rating and set a $38.00 target price on shares of Bicycle Therapeutics in a report on Thursday, October 31st. Cantor Fitzgerald reissued an “overweight” rating on shares of Bicycle Therapeutics in a research report on Monday, September 9th. JMP Securities reaffirmed a “market outperform” rating and set a $32.00 price objective on shares of Bicycle Therapeutics in a research report on Monday, September 16th. Finally, Stephens assumed coverage on Bicycle Therapeutics in a report on Friday, November 8th. They issued an “equal weight” rating and a $25.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Bicycle Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $40.13.

Insider Activity

In other Bicycle Therapeutics news, CAO Travis Alvin Thompson sold 6,256 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $25.11, for a total value 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 approximately $483,141.51. This trade represents a 24.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Kevin Lee sold 3,212 shares of Bicycle Therapeutics stock in a transaction that occurred on Thursday, October 3rd. The shares were 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 of the company’s stock, valued at approximately $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. In the last three months, insiders sold 10,840 shares of company stock valued at $259,128. Insiders own 8.50% of the company’s stock.

Bicycle Therapeutics 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.