572,000 Shares in Bicycle Therapeutics plc (NASDAQ:BCYC) Bought by Perceptive Advisors LLC

Perceptive Advisors LLC purchased a new stake in shares of Bicycle Therapeutics plc (NASDAQ:BCYC) in the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 572,000 shares of the company’s stock, valued at approximately $11,577,000.

Several other hedge funds have also recently bought and sold shares of the company. The Manufacturers Life Insurance Company increased its position in Bicycle Therapeutics by 275.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 97,392 shares of the company’s stock valued at $1,971,000 after acquiring an additional 71,434 shares during the period. Armistice Capital LLC increased its stake in Bicycle Therapeutics by 17.9% during the 2nd quarter. Armistice Capital LLC now owns 1,972,000 shares of the company’s stock valued at $39,913,000 after buying an additional 300,000 shares during the period. Cubist Systematic Strategies LLC raised its position in shares of Bicycle Therapeutics by 923.5% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 96,409 shares of the company’s stock worth $1,951,000 after buying an additional 86,989 shares in the last quarter. First Light Asset Management LLC lifted its stake in shares of Bicycle Therapeutics by 16.1% in the 2nd quarter. First Light Asset Management LLC now owns 1,384,768 shares of the company’s stock worth $28,028,000 after acquiring an additional 191,717 shares during the period. Finally, Marshall Wace LLP bought a new position in shares of Bicycle Therapeutics in the second quarter valued at approximately $1,801,000. 86.15% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Bicycle Therapeutics news, CEO Kevin Lee sold 3,194 shares of the company’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $19.64, for a total value of $62,730.16. Following the transaction, the chief executive officer now directly owns 384,076 shares of the company’s stock, valued at approximately $7,543,252.64. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Over the last three months, insiders sold 4,555 shares of company stock worth $89,460. 8.50% of the stock is owned by company insiders.

Bicycle Therapeutics Price Performance

BCYC opened at $23.21 on Monday. The firm has a market capitalization of $992.90 million, a P/E ratio of -5.22 and a beta of 0.90. The stock has a fifty day moving average of $23.49 and a 200-day moving average of $22.95. The company has a quick ratio of 14.77, a current ratio of 14.77 and a debt-to-equity ratio of 0.01. Bicycle Therapeutics plc has a 12-month low of $12.54 and a 12-month high of $28.20.

Bicycle Therapeutics (NASDAQ:BCYC) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.77) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.10) by $0.33. Bicycle Therapeutics had a negative return on equity of 32.80% and a negative net margin of 417.88%. The firm had revenue of $9.36 million during the quarter, compared to the consensus estimate of $6.13 million. The firm’s quarterly revenue was down 17.9% on a year-over-year basis. Equities analysts forecast that Bicycle Therapeutics plc will post -3.17 EPS for the current fiscal year.

Analysts Set New Price Targets

BCYC has been the topic of several recent analyst reports. HC Wainwright reissued a “buy” rating and set a $55.00 target price on shares of Bicycle Therapeutics in a report on Monday, September 16th. JMP Securities reaffirmed a “market outperform” rating and set a $32.00 target price on shares of Bicycle Therapeutics in a research note on Monday, September 16th. Needham & Company LLC reiterated a “buy” rating and issued a $38.00 price target on shares of Bicycle Therapeutics in a research report on Monday, September 16th. Cantor Fitzgerald restated an “overweight” rating on shares of Bicycle Therapeutics in a research report on Monday, September 9th. Finally, B. Riley lowered shares of Bicycle Therapeutics from a “buy” rating to a “neutral” rating and cut their target price for the company from $33.00 to $28.00 in a research note on Wednesday, August 7th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $44.56.

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.