Bicycle Therapeutics plc (NASDAQ:BCYC) Shares Sold by AlphaCentric Advisors LLC

AlphaCentric Advisors LLC lessened its position in Bicycle Therapeutics plc (NASDAQ:BCYC) by 37.5% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 37,500 shares of the company’s stock after selling 22,500 shares during the period. AlphaCentric Advisors LLC owned approximately 0.09% of Bicycle Therapeutics worth $849,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BCYC. Baker BROS. Advisors LP grew its position in Bicycle Therapeutics by 176.1% during the first quarter. Baker BROS. Advisors LP now owns 4,942,823 shares of the company’s stock valued at $123,076,000 after acquiring an additional 3,152,433 shares during the period. Avoro Capital Advisors LLC acquired a new stake in Bicycle Therapeutics during the second quarter valued at approximately $14,168,000. Perceptive Advisors LLC purchased a new stake in Bicycle Therapeutics during the second quarter valued at about $11,577,000. Armistice Capital LLC increased its stake in Bicycle Therapeutics by 17.9% in 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. Finally, First Light Asset Management LLC raised its position in Bicycle Therapeutics by 16.1% during the second quarter. First Light Asset Management LLC now owns 1,384,768 shares of the company’s stock valued at $28,028,000 after acquiring an additional 191,717 shares in the last quarter. Institutional investors and hedge funds own 86.15% of the company’s stock.

Insider Activity at Bicycle Therapeutics

In other Bicycle Therapeutics news, CEO Kevin Lee sold 3,212 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at approximately $8,478,032.64. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 4,584 shares of company stock valued at $102,040 in the last three months. Corporate insiders own 8.50% of the company’s stock.

Bicycle Therapeutics Price Performance

Bicycle Therapeutics stock opened at $23.46 on Tuesday. Bicycle Therapeutics plc has a twelve month low of $12.54 and a twelve month high of $28.67. The company’s 50-day moving average price is $24.21 and its two-hundred day moving average price is $23.12.

Bicycle Therapeutics (NASDAQ:BCYC) last announced its quarterly earnings results on Thursday, October 31st. The company reported ($0.74) EPS for the quarter, beating analysts’ consensus estimates of ($0.78) by $0.04. The company had revenue of $2.68 million during the quarter, compared to analysts’ expectations of $6.82 million. Bicycle Therapeutics had a negative return on equity of 27.35% and a negative net margin of 450.64%. Bicycle Therapeutics’s revenue was down 50.0% compared to the same quarter last year. During the same period in the prior year, the company earned ($1.26) EPS. On average, analysts forecast that Bicycle Therapeutics plc will post -3.17 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have commented on BCYC shares. Oppenheimer reaffirmed an “outperform” rating and issued a $48.00 price target on shares of Bicycle Therapeutics in a research report on Wednesday, August 7th. JMP Securities reissued a “market outperform” rating and set a $32.00 price target on shares of Bicycle Therapeutics in a research note on Monday, September 16th. HC Wainwright reissued a “buy” rating and set a $55.00 price target on shares of Bicycle Therapeutics in a research note on Friday. Needham & Company LLC reaffirmed a “buy” rating and issued a $38.00 price target on shares of Bicycle Therapeutics in a research note on Thursday, October 31st. Finally, B. Riley lowered Bicycle Therapeutics from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $33.00 to $28.00 in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Bicycle Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $45.13.

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.