Principal Financial Group Inc. Lowers Position in Bicycle Therapeutics plc (NASDAQ:BCYC)

Principal Financial Group Inc. decreased its stake in Bicycle Therapeutics plc (NASDAQ:BCYC) by 8.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 406,470 shares of the company’s stock after selling 36,671 shares during the quarter. Principal Financial Group Inc. owned approximately 0.59% of Bicycle Therapeutics worth $5,691,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Assetmark Inc. bought a new position in shares of Bicycle Therapeutics during the 3rd quarter valued at approximately $34,000. Avior Wealth Management LLC bought a new position in shares of Bicycle Therapeutics in the fourth quarter worth approximately $57,000. China Universal Asset Management Co. Ltd. increased its stake in shares of Bicycle Therapeutics by 30.7% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 9,329 shares of the company’s stock worth $131,000 after purchasing an additional 2,191 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Bicycle Therapeutics by 26.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 8,424 shares of the company’s stock valued at $191,000 after purchasing an additional 1,782 shares during the period. Finally, Crossmark Global Holdings Inc. purchased a new position in shares of Bicycle Therapeutics during the 3rd quarter valued at $257,000. Institutional investors own 86.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Needham & Company LLC reissued a “buy” rating and set a $30.00 price target on shares of Bicycle Therapeutics in a report on Wednesday, February 26th. JMP Securities decreased their target price on Bicycle Therapeutics from $32.00 to $26.00 and set a “market outperform” rating on the stock in a research note on Wednesday, December 18th. B. Riley dropped their price target on Bicycle Therapeutics from $28.00 to $17.00 and set a “neutral” rating for the company in a research note on Friday, December 13th. Stephens reiterated an “equal weight” rating and set a $15.00 price objective on shares of Bicycle Therapeutics in a research report on Wednesday, January 22nd. Finally, HC Wainwright restated a “buy” rating and set a $33.00 target price on shares of Bicycle Therapeutics in a research report on Wednesday, February 26th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $29.14.

Insider Activity

In related news, Director Bros. Advisors Lp Baker purchased 985,397 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were bought at an average price of $13.76 per share, for a total transaction of $13,559,062.72. Following the acquisition, the director now owns 9,537,643 shares of the company’s stock, valued at approximately $131,237,967.68. This represents a 11.52 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Alistair Milnes sold 4,578 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $14.09, for a total value of $64,504.02. Following the completion of the sale, the chief operating officer now owns 100,724 shares of the company’s stock, valued at approximately $1,419,201.16. This represents a 4.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,677 shares of company stock worth $392,413. 8.50% of the stock is currently owned by corporate insiders.

Bicycle Therapeutics Stock Performance

NASDAQ BCYC opened at $10.47 on Tuesday. The stock has a 50 day moving average price of $13.19 and a 200-day moving average price of $19.27. Bicycle Therapeutics plc has a one year low of $10.38 and a one year high of $28.67. The company has a market capitalization of $722.91 million, a P/E ratio of -3.18 and a beta of 0.93.

Bicycle Therapeutics (NASDAQ:BCYC) last released its quarterly earnings data on Tuesday, February 25th. The company reported ($0.75) EPS for the quarter, beating the consensus estimate of ($0.85) by $0.10. Bicycle Therapeutics had a negative net margin of 450.64% and a negative return on equity of 27.35%. The business had revenue of $3.70 million during the quarter, compared to analyst estimates of $5.47 million. During the same quarter last year, the business earned ($1.16) earnings per share. Bicycle Therapeutics’s quarterly revenue was down 30.2% compared to the same quarter last year. As a group, equities analysts predict that Bicycle Therapeutics plc will post -3.06 EPS for the current fiscal year.

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.