Principal Financial Group Inc. Takes $10.03 Million Position in Bicycle Therapeutics plc (NASDAQ:BCYC)

Principal Financial Group Inc. purchased a new position in shares of Bicycle Therapeutics plc (NASDAQ:BCYC) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 443,141 shares of the company’s stock, valued at approximately $10,028,000. Principal Financial Group Inc. owned about 1.04% of Bicycle Therapeutics at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC increased its holdings 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 buying an additional 1,038 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its holdings in Bicycle Therapeutics by 69.1% during the third quarter. China Universal Asset Management Co. Ltd. now owns 7,138 shares of the company’s stock worth $162,000 after purchasing an additional 2,918 shares during the last quarter. XTX Topco Ltd purchased a new stake in Bicycle Therapeutics during the second quarter worth $206,000. Natixis Advisors LLC acquired a new stake in Bicycle Therapeutics in the second quarter valued at $261,000. Finally, Harbor Capital Advisors Inc. increased its position in shares of Bicycle Therapeutics by 27.2% in the second quarter. Harbor Capital Advisors Inc. now owns 55,289 shares of the company’s stock valued at $1,119,000 after buying an additional 11,809 shares in the last quarter. 86.15% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Bicycle Therapeutics news, CEO Kevin Lee sold 3,212 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 380,864 shares of the company’s stock, valued at approximately $8,478,032.64. This represents a 0.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Travis Alvin Thompson sold 6,256 shares of Bicycle Therapeutics stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $25.11, for a total value of $157,088.16. Following the transaction, the chief accounting officer now owns 19,241 shares in the company, valued at approximately $483,141.51. This represents a 24.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 10,840 shares of company stock worth $259,128 over the last three months. 8.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on BCYC shares. HC Wainwright reissued a “buy” rating and set a $55.00 price objective on shares of Bicycle Therapeutics in a research note on Friday, November 1st. Stephens assumed coverage on Bicycle Therapeutics in a report on Friday, November 8th. They set an “equal weight” rating and a $25.00 price objective on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $35.00 target price on shares of Bicycle Therapeutics in a research report on Friday, November 1st. Cantor Fitzgerald restated an “overweight” rating on shares of Bicycle Therapeutics in a report on Monday, September 9th. Finally, Oppenheimer reissued an “outperform” rating and issued a $48.00 target price on shares of Bicycle Therapeutics in a research report on Wednesday, August 7th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $40.13.

Bicycle Therapeutics Trading Down 6.1 %

Shares of Bicycle Therapeutics stock opened at $20.46 on Tuesday. Bicycle Therapeutics plc has a 1 year low of $13.07 and a 1 year high of $28.67. The company’s fifty day simple moving average is $24.62 and its 200-day simple moving average is $23.15. The company has a market cap of $972.95 million, a price-to-earnings ratio of -6.35 and a beta of 0.89.

Bicycle Therapeutics (NASDAQ:BCYC) last announced its quarterly earnings data on Thursday, October 31st. The company reported ($0.74) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.78) by $0.04. The company had revenue of $2.68 million during the quarter, compared to analysts’ expectations of $6.82 million. Bicycle Therapeutics had a negative net margin of 450.64% and a negative return on equity of 27.35%. The business’s revenue was down 50.0% on a year-over-year basis. During the same quarter in the prior year, the company posted ($1.26) EPS. As a group, research analysts forecast that Bicycle Therapeutics plc will post -3.01 earnings per share for the current fiscal year.

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.