Handelsbanken Fonder AB Boosts Stake in Bicycle Therapeutics plc (NASDAQ:BCYC)

Handelsbanken Fonder AB raised its position in Bicycle Therapeutics plc (NASDAQ:BCYC) by 3.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 139,800 shares of the company’s stock after purchasing an additional 5,300 shares during the period. Handelsbanken Fonder AB’s holdings in Bicycle Therapeutics were worth $2,528,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Braidwell LP purchased a new stake in Bicycle Therapeutics in the 3rd quarter worth about $25,914,000. Polar Capital Holdings Plc raised its position in Bicycle Therapeutics by 33.2% in the 3rd quarter. Polar Capital Holdings Plc now owns 1,011,500 shares of the company’s stock worth $20,321,000 after purchasing an additional 252,000 shares during the period. Armistice Capital LLC raised its position in Bicycle Therapeutics by 14.2% in the 3rd quarter. Armistice Capital LLC now owns 1,000,000 shares of the company’s stock worth $20,090,000 after purchasing an additional 124,000 shares during the period. RA Capital Management L.P. purchased a new stake in Bicycle Therapeutics in the 3rd quarter worth about $16,072,000. Finally, Deerfield Management Company L.P. Series C bought a new position in Bicycle Therapeutics in the 3rd quarter worth about $9,015,000. 86.15% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Kevin Lee sold 3,158 shares of the firm’s stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $23.81, for a total transaction of $75,191.98. Following the completion of the transaction, the chief executive officer now owns 387,270 shares of the company’s stock, valued at $9,220,898.70. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Over the last quarter, insiders sold 5,312 shares of company stock valued at $126,139. Insiders own 10.20% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on BCYC shares. Needham & Company LLC restated a “buy” rating and issued a $43.00 target price on shares of Bicycle Therapeutics in a research note on Wednesday, April 10th. Canaccord Genuity Group restated a “buy” rating and issued a $60.00 target price on shares of Bicycle Therapeutics in a research note on Wednesday, February 21st. Finally, HC Wainwright dropped their target price on shares of Bicycle Therapeutics from $57.00 to $55.00 and set a “buy” rating on the stock in a research note on Wednesday, February 21st. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $46.86.

Bicycle Therapeutics Price Performance

NASDAQ BCYC opened at $22.73 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 8.08 and a current ratio of 8.08. The firm’s 50 day moving average price is $23.95 and its 200-day moving average price is $19.34. Bicycle Therapeutics plc has a 52-week low of $12.54 and a 52-week high of $28.91. The company has a market cap of $682.81 million, a PE ratio of -4.43 and a beta of 0.89.

Bicycle Therapeutics (NASDAQ:BCYC) last released its quarterly earnings data on Tuesday, February 20th. The company reported ($1.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.23) by $0.07. The firm had revenue of $5.33 million for the quarter, compared to the consensus estimate of $11.68 million. Bicycle Therapeutics had a negative net margin of 669.72% and a negative return on equity of 57.80%. Sell-side analysts forecast that Bicycle Therapeutics plc will post -5.2 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.