Renaissance Technologies LLC Sells 3,100 Shares of Bicycle Therapeutics plc (NASDAQ:BCYC)

Renaissance Technologies LLC reduced its stake in Bicycle Therapeutics plc (NASDAQ:BCYC) by 1.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 269,500 shares of the company’s stock after selling 3,100 shares during the period. Renaissance Technologies LLC owned approximately 0.39% of Bicycle Therapeutics worth $3,773,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. Candriam S.C.A. grew its position in Bicycle Therapeutics by 3.5% in the fourth quarter. Candriam S.C.A. now owns 1,087,876 shares of the company’s stock worth $15,230,000 after acquiring an additional 37,278 shares in the last quarter. Principal Financial Group Inc. purchased a new stake in shares of Bicycle Therapeutics in the third quarter valued at approximately $10,028,000. Platinum Investment Management Ltd. grew its position in shares of Bicycle Therapeutics by 13.6% during the 4th quarter. Platinum Investment Management Ltd. now owns 309,059 shares of the company’s stock worth $4,327,000 after buying an additional 36,910 shares in the last quarter. Springhill Fund Asset Management HK Co Ltd purchased a new position in Bicycle Therapeutics during the 4th quarter valued at about $1,630,000. Finally, State Street Corp increased its holdings in Bicycle Therapeutics by 233.5% during the third quarter. State Street Corp now owns 86,271 shares of the company’s stock valued at $1,952,000 after buying an additional 60,399 shares during the period. 86.15% of the stock is currently owned by hedge funds and other institutional investors.

Bicycle Therapeutics Stock Up 16.2 %

Shares of BCYC opened at $8.73 on Wednesday. The stock has a market cap of $604.13 million, a PE ratio of -2.65 and a beta of 1.40. Bicycle Therapeutics plc has a 52-week low of $6.10 and a 52-week high of $28.67. The firm’s fifty day moving average is $9.31 and its two-hundred day moving average is $15.37.

Bicycle Therapeutics (NASDAQ:BCYC) last released its quarterly earnings results on Tuesday, February 25th. The company reported ($0.75) EPS for the quarter, beating the consensus estimate of ($0.85) by $0.10. The firm had revenue of $3.70 million for the quarter, compared to analyst estimates of $5.47 million. Bicycle Therapeutics had a negative net margin of 450.64% and a negative return on equity of 27.35%. The business’s revenue for the quarter was down 30.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($1.16) EPS. As a group, research analysts anticipate that Bicycle Therapeutics plc will post -3.06 earnings per share for the current year.

Wall Street Analysts Forecast Growth

BCYC has been the subject of a number of recent research reports. HC Wainwright reiterated a “buy” rating and issued a $33.00 target price on shares of Bicycle Therapeutics in a report on Wednesday, February 26th. Stephens reaffirmed an “equal weight” rating and set a $15.00 target price on shares of Bicycle Therapeutics in a report on Wednesday, January 22nd. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $30.00 target price on shares of Bicycle Therapeutics in a report on Wednesday, April 9th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $29.14.

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.