HighVista Strategies LLC Raises Stake in Bicycle Therapeutics plc (NASDAQ:BCYC)

HighVista Strategies LLC lifted its position in Bicycle Therapeutics plc (NASDAQ:BCYC) by 9.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 139,544 shares of the company’s stock after purchasing an additional 12,289 shares during the period. Bicycle Therapeutics comprises 1.1% of HighVista Strategies LLC’s portfolio, making the stock its 25th largest holding. HighVista Strategies LLC owned approximately 0.29% of Bicycle Therapeutics worth $3,158,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Harbor Capital Advisors Inc. boosted its holdings in Bicycle Therapeutics by 27.2% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 55,289 shares of the company’s stock worth $1,119,000 after buying an additional 11,809 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in shares of Bicycle Therapeutics by 0.6% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 888,081 shares of the company’s stock worth $17,975,000 after acquiring an additional 4,976 shares during the period. Pinnacle Associates Ltd. grew its position in shares of Bicycle Therapeutics by 202.2% during the second quarter. Pinnacle Associates Ltd. now owns 242,001 shares of the company’s stock worth $4,898,000 after purchasing an additional 161,911 shares in the last quarter. Natixis Advisors LLC bought a new stake in Bicycle Therapeutics during the 2nd quarter valued at approximately $261,000. Finally, TD Asset Management Inc raised its stake in Bicycle Therapeutics by 76.7% during the 2nd quarter. TD Asset Management Inc now owns 97,186 shares of the company’s stock valued at $1,967,000 after purchasing an additional 42,200 shares during the period. 86.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on BCYC shares. JMP Securities reaffirmed a “market outperform” rating and set a $32.00 price objective on shares of Bicycle Therapeutics in a report on Monday, September 16th. HC Wainwright reaffirmed a “buy” rating and set a $55.00 target price on shares of Bicycle Therapeutics in a research note on Friday, November 1st. Oppenheimer reiterated an “outperform” rating and issued a $48.00 price target on shares of Bicycle Therapeutics in a report on Wednesday, August 7th. Stephens assumed coverage on shares of Bicycle Therapeutics in a report on Friday, November 8th. They set an “equal weight” rating and a $25.00 price objective for the company. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Bicycle Therapeutics in a report on Monday, September 9th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Bicycle Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.13.

Bicycle Therapeutics Trading Down 1.9 %

Shares of NASDAQ BCYC opened at $20.01 on Tuesday. Bicycle Therapeutics plc has a 12-month low of $14.33 and a 12-month high of $28.67. The firm’s 50-day moving average price is $23.42 and its 200-day moving average price is $22.94. The stock has a market capitalization of $951.48 million, a price-to-earnings ratio of -6.08 and a beta of 0.89.

Bicycle Therapeutics (NASDAQ:BCYC) last issued its quarterly earnings data on Thursday, October 31st. The company reported ($0.74) earnings per share for the quarter, topping the consensus estimate of ($0.78) by $0.04. The company had revenue of $2.68 million for the quarter, compared to analysts’ expectations of $6.82 million. Bicycle Therapeutics had a negative return on equity of 27.35% and a negative net margin of 450.64%. The firm’s revenue for the quarter was down 50.0% on a year-over-year basis. During the same period in the previous year, the firm posted ($1.26) earnings per share. On average, equities analysts predict that Bicycle Therapeutics plc will post -3.07 EPS for the current fiscal year.

Insider Activity at Bicycle Therapeutics

In related news, CAO Travis Alvin Thompson sold 6,256 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $25.11, for a total value of $157,088.16. Following the sale, the chief accounting officer now directly owns 19,241 shares of the company’s stock, valued at $483,141.51. This represents a 24.54 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Kevin Lee sold 3,212 shares of the firm’s stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $22.26, for a total transaction of $71,499.12. Following the completion of the sale, the chief executive officer now directly owns 380,864 shares of the company’s stock, valued at approximately $8,478,032.64. The trade was a 0.84 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,840 shares of company stock worth $259,128. Company insiders own 8.50% of the company’s stock.

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.