Bicycle Therapeutics plc (NASDAQ:BCYC) Shares Purchased by Westfield Capital Management Co. LP

Westfield Capital Management Co. LP raised its position in Bicycle Therapeutics plc (NASDAQ:BCYC) by 21.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,850,945 shares of the company’s stock after purchasing an additional 327,089 shares during the quarter. Westfield Capital Management Co. LP’s holdings in Bicycle Therapeutics were worth $41,887,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Assetmark Inc. acquired a new position in Bicycle Therapeutics in the third quarter valued at approximately $34,000. GAMMA Investing LLC lifted its position in 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 buying an additional 1,038 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its stake in Bicycle Therapeutics by 69.1% during the third quarter. China Universal Asset Management Co. Ltd. now owns 7,138 shares of the company’s stock worth $162,000 after buying an additional 2,918 shares during the period. XTX Topco Ltd acquired a new stake in shares of Bicycle Therapeutics during the second quarter valued at about $206,000. Finally, Crossmark Global Holdings Inc. purchased a new stake in shares of Bicycle Therapeutics in the 3rd quarter valued at approximately $257,000. Hedge funds and other institutional investors own 86.15% of the company’s stock.

Bicycle Therapeutics Price Performance

BCYC stock opened at $20.54 on Monday. The business’s 50-day moving average is $23.97 and its two-hundred day moving average is $23.04. The firm has a market capitalization of $976.68 million, a P/E ratio of -6.24 and a beta of 0.89. Bicycle Therapeutics plc has a 1 year low of $13.31 and a 1 year high of $28.67.

Bicycle Therapeutics (NASDAQ:BCYC) last issued its earnings results on Thursday, October 31st. The company reported ($0.74) earnings per share for the quarter, beating the consensus estimate of ($0.78) by $0.04. Bicycle Therapeutics had a negative net margin of 450.64% and a negative return on equity of 27.35%. The firm had revenue of $2.68 million for the quarter, compared to analysts’ expectations of $6.82 million. During the same quarter last year, the company earned ($1.26) earnings per share. The firm’s revenue was down 50.0% compared to the same quarter last year. On average, analysts expect that Bicycle Therapeutics plc will post -3.07 EPS for the current year.

Analyst Ratings Changes

BCYC has been the subject of a number of research analyst reports. JMP Securities reaffirmed a “market outperform” rating and set a $32.00 price objective on shares of Bicycle Therapeutics in a research report on Monday, September 16th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $35.00 price objective on shares of Bicycle Therapeutics in a research note on Friday, November 1st. Needham & Company LLC reissued a “buy” rating and set a $38.00 target price on shares of Bicycle Therapeutics in a research note on Thursday, October 31st. B. Riley downgraded Bicycle Therapeutics from a “buy” rating to a “neutral” rating and dropped their target price for the company from $33.00 to $28.00 in a research report on Wednesday, August 7th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Bicycle Therapeutics in a research note on Monday, September 9th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $40.13.

Insider Activity at Bicycle Therapeutics

In related news, CAO Travis Alvin Thompson sold 6,256 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $25.11, for a total value of $157,088.16. Following the completion of the transaction, the chief accounting officer now directly owns 19,241 shares of the company’s stock, valued at $483,141.51. This represents a 24.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Kevin Lee sold 3,212 shares of the stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $22.26, for a total transaction of $71,499.12. Following the completion of the transaction, the chief executive officer now owns 380,864 shares in the company, valued at $8,478,032.64. This represents a 0.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 10,840 shares of company stock valued at $259,128 over the last quarter. 8.50% of the stock is owned by insiders.

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.