China Universal Asset Management Co. Ltd. Grows Stock Holdings in Bicycle Therapeutics plc (NASDAQ:BCYC)

China Universal Asset Management Co. Ltd. increased its stake in Bicycle Therapeutics plc (NASDAQ:BCYC) by 69.1% during the 3rd quarter, Holdings Channel reports. The fund owned 7,138 shares of the company’s stock after purchasing an additional 2,918 shares during the quarter. China Universal Asset Management Co. Ltd.’s holdings in Bicycle Therapeutics were worth $162,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. GAMMA Investing LLC raised its stake in shares of Bicycle Therapeutics by 105.1% in the third quarter. GAMMA Investing LLC now owns 2,026 shares of the company’s stock valued at $46,000 after acquiring an additional 1,038 shares in the last quarter. Handelsbanken Fonder AB raised its stake in shares of Bicycle Therapeutics by 2.4% in the third quarter. Handelsbanken Fonder AB now owns 218,700 shares of the company’s stock valued at $4,949,000 after acquiring an additional 5,200 shares in the last quarter. Perceptive Advisors LLC acquired a new stake in shares of Bicycle Therapeutics in the second quarter valued at $11,577,000. The Manufacturers Life Insurance Company raised its stake in shares of Bicycle Therapeutics by 275.2% in the second 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 in the last quarter. Finally, Armistice Capital LLC raised its stake in shares of Bicycle Therapeutics by 17.9% in the second quarter. Armistice Capital LLC now owns 1,972,000 shares of the company’s stock valued at $39,913,000 after acquiring an additional 300,000 shares in the last quarter. 86.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on BCYC. B. Riley cut Bicycle Therapeutics from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $33.00 to $28.00 in a research note on Wednesday, August 7th. Oppenheimer restated an “outperform” rating and issued a $48.00 price target on shares of Bicycle Therapeutics in a research note on Wednesday, August 7th. Needham & Company LLC restated a “buy” rating and issued a $38.00 price target on shares of Bicycle Therapeutics in a research note on Thursday, October 24th. Royal Bank of Canada began coverage on Bicycle Therapeutics in a research note on Friday, September 6th. They issued an “outperform” rating and a $35.00 price target on the stock. Finally, HC Wainwright restated a “buy” rating and issued a $55.00 price target on shares of Bicycle Therapeutics in a research note on Thursday, October 24th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $44.56.

Insider Activity at Bicycle Therapeutics

In related news, CEO Kevin Lee sold 3,212 shares of the business’s stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $22.26, for a total value of $71,499.12. Following the transaction, the chief executive officer now owns 380,864 shares in the company, valued at $8,478,032.64. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders have sold 4,584 shares of company stock worth $102,040 in the last quarter. Company insiders own 8.50% of the company’s stock.

Bicycle Therapeutics Stock Performance

Shares of BCYC stock opened at $24.03 on Thursday. The stock’s 50-day moving average is $24.13 and its two-hundred day moving average is $23.10. The firm has a market cap of $1.03 billion, a price-to-earnings ratio of -5.40 and a beta of 0.89. Bicycle Therapeutics plc has a 1 year low of $12.54 and a 1 year high of $28.67. The company has a debt-to-equity ratio of 0.01, a quick ratio of 14.77 and a current ratio of 14.77.

Bicycle Therapeutics (NASDAQ:BCYC) last issued 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. The company had revenue of $9.36 million for the quarter, compared to analyst estimates of $6.13 million. Bicycle Therapeutics had a negative return on equity of 32.80% and a negative net margin of 417.88%. The business’s revenue was down 17.9% on a year-over-year basis. Analysts predict that Bicycle Therapeutics plc will post -3.17 earnings per share for the current year.

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.