The Manufacturers Life Insurance Company Sells 5,208 Shares of Bicycle Therapeutics plc (NASDAQ:BCYC)

The Manufacturers Life Insurance Company reduced its position in Bicycle Therapeutics plc (NASDAQ:BCYC) by 4.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 124,497 shares of the company’s stock after selling 5,208 shares during the period. The Manufacturers Life Insurance Company’s holdings in Bicycle Therapeutics were worth $1,743,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in BCYC. Principal Financial Group Inc. purchased a new position in Bicycle Therapeutics in the 3rd quarter worth approximately $10,028,000. JPMorgan Chase & Co. raised its holdings in Bicycle Therapeutics by 26.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 8,424 shares of the company’s stock worth $191,000 after acquiring an additional 1,782 shares during the last quarter. Avior Wealth Management LLC purchased a new position in Bicycle Therapeutics in the 4th quarter worth approximately $57,000. China Universal Asset Management Co. Ltd. raised its holdings in Bicycle Therapeutics by 30.7% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 9,329 shares of the company’s stock worth $131,000 after acquiring an additional 2,191 shares during the last quarter. Finally, Candriam S.C.A. raised its holdings in Bicycle Therapeutics by 3.5% in the 4th 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 during the last quarter. 86.15% of the stock is currently owned by hedge funds and other institutional investors.

Bicycle Therapeutics Price Performance

NASDAQ:BCYC opened at $8.34 on Monday. The firm has a market capitalization of $577.14 million, a price-to-earnings ratio of -2.53 and a beta of 1.60. Bicycle Therapeutics plc has a one year low of $6.10 and a one year high of $28.67. The business has a fifty day moving average price of $8.44 and a 200-day moving average price of $13.68.

Bicycle Therapeutics (NASDAQ:BCYC) last posted its quarterly earnings data on Thursday, May 1st. The company reported ($0.88) EPS for the quarter, missing the consensus estimate of ($0.86) by ($0.02). The company had revenue of $9.98 million during the quarter, compared to analysts’ expectations of $8.67 million. Bicycle Therapeutics had a negative return on equity of 27.35% and a negative net margin of 450.64%. On average, equities research analysts expect that Bicycle Therapeutics plc will post -3.06 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on BCYC. Needham & Company LLC restated a “buy” rating and issued a $29.00 price objective on shares of Bicycle Therapeutics in a report on Friday, May 2nd. Barclays decreased their target price on shares of Bicycle Therapeutics from $40.00 to $15.00 and set an “overweight” rating for the company in a research note on Thursday, May 1st. Stephens reiterated an “equal weight” rating and set a $15.00 target price on shares of Bicycle Therapeutics in a research note on Wednesday, January 22nd. HC Wainwright reiterated a “buy” rating and set a $33.00 target price on shares of Bicycle Therapeutics in a research note on Wednesday, February 26th. Finally, JMP Securities decreased their target price on shares of Bicycle Therapeutics from $26.00 to $22.00 and set a “market outperform” rating for the company in a research note on Friday, May 2nd. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Bicycle Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $25.00.

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.