Geode Capital Management LLC Grows Stock Position in Bicycle Therapeutics plc (NASDAQ:BCYC)

Geode Capital Management LLC raised its stake in shares of Bicycle Therapeutics plc (NASDAQ:BCYC) by 79.3% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 38,335 shares of the company’s stock after buying an additional 16,958 shares during the period. Geode Capital Management LLC’s holdings in Bicycle Therapeutics were worth $868,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. GAMMA Investing LLC increased its stake in shares of Bicycle Therapeutics by 105.1% in the 3rd 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 in the last quarter. L & S Advisors Inc increased its stake in shares of Bicycle Therapeutics by 2.4% in the 3rd quarter. L & S Advisors Inc now owns 59,735 shares of the company’s stock valued at $1,352,000 after purchasing an additional 1,400 shares in the last quarter. Assetmark Inc. purchased a new position in shares of Bicycle Therapeutics in the 3rd quarter valued at about $34,000. China Universal Asset Management Co. Ltd. increased its stake in shares of Bicycle Therapeutics by 69.1% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 7,138 shares of the company’s stock valued at $162,000 after purchasing an additional 2,918 shares in the last quarter. Finally, Handelsbanken Fonder AB increased its stake in shares of Bicycle Therapeutics by 2.4% in the 3rd quarter. Handelsbanken Fonder AB now owns 218,700 shares of the company’s stock valued at $4,949,000 after purchasing an additional 5,200 shares in the last quarter. Hedge funds and other institutional investors own 86.15% of the company’s stock.

Insider Activity

In related news, insider Santiago Arroyo sold 4,943 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $14.09, for a total value of $69,646.87. Following the transaction, the insider now directly owns 69,057 shares in the company, valued at approximately $973,013.13. This represents a 6.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Travis Alvin Thompson sold 6,256 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $25.11, for a total value of $157,088.16. Following the completion of the transaction, the chief accounting officer now owns 19,241 shares in the company, valued at $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 33,933 shares of company stock worth $549,501 over the last ninety days. Corporate insiders own 8.50% of the company’s stock.

Wall Street Analysts Forecast Growth

BCYC has been the subject of several recent analyst reports. JMP Securities cut their price target on Bicycle Therapeutics from $32.00 to $26.00 and set a “market outperform” rating for the company in a research note on Wednesday, December 18th. HC Wainwright cut their price target on Bicycle Therapeutics from $55.00 to $33.00 and set a “buy” rating for the company in a research note on Monday, December 16th. B. Riley cut 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 assumed coverage on Bicycle Therapeutics in a research note on Friday, November 8th. They set an “equal weight” rating and a $25.00 price objective for the company. Finally, Needham & Company LLC reiterated a “buy” rating and set a $38.00 price objective on shares of Bicycle Therapeutics in a research note on Thursday, October 31st. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $35.25.

Bicycle Therapeutics Trading Down 6.1 %

NASDAQ:BCYC opened at $13.31 on Friday. The stock has a 50 day moving average of $18.70 and a two-hundred day moving average of $21.72. The firm has a market cap of $919.00 million, a P/E ratio of -4.05 and a beta of 0.92. Bicycle Therapeutics plc has a 12 month low of $12.17 and a 12 month high of $28.67.

Bicycle Therapeutics (NASDAQ:BCYC) last posted its quarterly earnings results 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 business had revenue of $2.68 million during the quarter, compared to analyst estimates of $6.82 million. Bicycle Therapeutics had a negative return on equity of 27.35% and a negative net margin of 450.64%. The business’s revenue was down 50.0% compared to the same quarter last year. During the same period in the prior year, the business earned ($1.26) earnings per share. On average, research analysts forecast that Bicycle Therapeutics plc will post -3.05 earnings per share for the current 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.