Handelsbanken Fonder AB Purchases 5,200 Shares of Bicycle Therapeutics plc (NASDAQ:BCYC)

Handelsbanken Fonder AB raised its position in shares of Bicycle Therapeutics plc (NASDAQ:BCYC) by 2.4% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 218,700 shares of the company’s stock after purchasing an additional 5,200 shares during the quarter. Handelsbanken Fonder AB owned 0.51% of Bicycle Therapeutics worth $4,949,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of BCYC. Perceptive Advisors LLC bought a new stake in Bicycle Therapeutics in the 2nd quarter worth about $11,577,000. The Manufacturers Life Insurance Company lifted its position in Bicycle Therapeutics by 275.2% during the second quarter. The Manufacturers Life Insurance Company now owns 97,392 shares of the company’s stock valued at $1,971,000 after purchasing an additional 71,434 shares during the period. Armistice Capital LLC boosted its holdings in Bicycle Therapeutics by 17.9% in the second quarter. Armistice Capital LLC now owns 1,972,000 shares of the company’s stock worth $39,913,000 after purchasing an additional 300,000 shares during the last quarter. Cubist Systematic Strategies LLC grew its position in Bicycle Therapeutics by 923.5% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 96,409 shares of the company’s stock worth $1,951,000 after purchasing an additional 86,989 shares during the period. Finally, First Light Asset Management LLC grew its position in Bicycle Therapeutics by 16.1% in the 2nd quarter. First Light Asset Management LLC now owns 1,384,768 shares of the company’s stock worth $28,028,000 after purchasing an additional 191,717 shares during the period. 86.15% of the stock is owned by hedge funds and other institutional investors.

Bicycle Therapeutics Trading Up 0.6 %

Shares of BCYC stock opened at $23.53 on Wednesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 14.77 and a current ratio of 14.77. The stock has a fifty day simple moving average of $23.34 and a two-hundred day simple moving average of $22.87. The firm has a market capitalization of $1.01 billion, a PE ratio of -5.29 and a beta of 0.89. Bicycle Therapeutics plc has a 52-week low of $12.54 and a 52-week high of $28.20.

Bicycle Therapeutics (NASDAQ:BCYC) last released its earnings results on Tuesday, August 6th. The company reported ($0.77) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.10) by $0.33. Bicycle Therapeutics had a negative return on equity of 32.80% and a negative net margin of 417.88%. The firm had revenue of $9.36 million during the quarter, compared to analysts’ expectations of $6.13 million. The business’s quarterly revenue was down 17.9% compared to the same quarter last year. On average, analysts predict that Bicycle Therapeutics plc will post -3.17 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently commented on BCYC shares. HC Wainwright reaffirmed a “buy” rating and issued a $55.00 price objective on shares of Bicycle Therapeutics in a report on Monday, September 16th. Oppenheimer restated an “outperform” rating and set a $48.00 price target on shares of Bicycle Therapeutics in a research note on Wednesday, August 7th. Royal Bank of Canada started coverage on shares of Bicycle Therapeutics in a research note on Friday, September 6th. They issued an “outperform” rating and a $35.00 price objective on the stock. B. Riley cut shares of Bicycle Therapeutics from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $33.00 to $28.00 in a research note on Wednesday, August 7th. Finally, JMP Securities reiterated a “market outperform” rating and set a $32.00 target price on shares of Bicycle Therapeutics in a research report on Monday, September 16th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $44.56.

Insider Buying and Selling at Bicycle Therapeutics

In other news, CEO Kevin Lee sold 3,212 shares of the business’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $22.26, for a total value of $71,499.12. Following the transaction, 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 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 4,584 shares of company stock valued at $102,040 in the last three months. 8.50% of the stock is currently owned by corporate insiders.

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.