State Street Corp Buys 60,399 Shares of Bicycle Therapeutics plc (NASDAQ:BCYC)

State Street Corp boosted its position in Bicycle Therapeutics plc (NASDAQ:BCYC) by 233.5% during the third quarter, Holdings Channel reports. The fund owned 86,271 shares of the company’s stock after acquiring an additional 60,399 shares during the period. State Street Corp’s holdings in Bicycle Therapeutics were worth $1,952,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in BCYC. Natixis Advisors LLC purchased a new position in shares of Bicycle Therapeutics in the 2nd quarter worth about $261,000. TD Asset Management Inc boosted its stake in Bicycle Therapeutics by 76.7% in the second quarter. TD Asset Management Inc now owns 97,186 shares of the company’s stock worth $1,967,000 after buying an additional 42,200 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Bicycle Therapeutics by 97.2% in the second quarter. Renaissance Technologies LLC now owns 326,800 shares of the company’s stock worth $6,614,000 after buying an additional 161,100 shares in the last quarter. L & S Advisors Inc grew its position in Bicycle Therapeutics by 16.1% during the second quarter. L & S Advisors Inc now owns 58,335 shares of the company’s stock valued at $1,181,000 after acquiring an additional 8,075 shares during the last quarter. Finally, XTX Topco Ltd purchased a new position in shares of Bicycle Therapeutics during the second quarter worth approximately $206,000. Hedge funds and other institutional investors own 86.15% of the company’s stock.

Insider Activity at Bicycle Therapeutics

In related news, Director Bros. Advisors Lp Baker purchased 500,000 shares of Bicycle Therapeutics stock in a transaction that occurred on Monday, December 16th. The shares were bought at an average price of $15.34 per share, for a total transaction of $7,670,000.00. Following the completion of the transaction, the director now directly owns 9,995,274 shares of the company’s stock, valued at $153,327,503.16. This represents a 5.27 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Travis Alvin Thompson sold 6,256 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $25.11, for a total transaction of $157,088.16. Following the completion of the sale, the chief accounting officer now owns 19,241 shares of the company’s stock, valued at $483,141.51. This trade represents a 24.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.50% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on BCYC. B. Riley cut their price objective on shares of Bicycle Therapeutics from $28.00 to $17.00 and set a “neutral” rating for the company in a research note on Friday, December 13th. JMP Securities cut their price target on shares of Bicycle Therapeutics from $32.00 to $26.00 and set a “market outperform” rating for the company in a research report on Wednesday, December 18th. Royal Bank of Canada reiterated an “outperform” rating and issued a $35.00 price objective on shares of Bicycle Therapeutics in a report on Friday, November 1st. HC Wainwright lowered their target price 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. Finally, Needham & Company LLC restated a “buy” rating and set a $38.00 price target on shares of Bicycle Therapeutics in a research report on Thursday, October 31st. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $35.25.

Bicycle Therapeutics Price Performance

NASDAQ BCYC opened at $14.00 on Thursday. Bicycle Therapeutics plc has a 1 year low of $12.17 and a 1 year high of $28.67. The stock has a market capitalization of $966.64 million, a PE ratio of -4.26 and a beta of 0.86. The business’s 50-day moving average is $19.88 and its 200 day moving average is $21.98.

Bicycle Therapeutics (NASDAQ:BCYC) last released 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. Bicycle Therapeutics had a negative return on equity of 27.35% and a negative net margin of 450.64%. The business had revenue of $2.68 million during the quarter, compared to analysts’ expectations of $6.82 million. During the same quarter last year, the business posted ($1.26) EPS. The business’s revenue was down 50.0% on a year-over-year basis. As a group, equities research analysts anticipate that Bicycle Therapeutics plc will post -3.05 earnings per share for the current year.

About Bicycle Therapeutics

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.