EntryPoint Capital LLC Takes Position in Bicycle Therapeutics plc (NASDAQ:BCYC)

EntryPoint Capital LLC acquired a new position in shares of Bicycle Therapeutics plc (NASDAQ:BCYC) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 43,873 shares of the company’s stock, valued at approximately $614,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BCYC. FMR LLC purchased a new stake in shares of Bicycle Therapeutics during the 3rd quarter worth approximately $3,406,000. The Manufacturers Life Insurance Company boosted its position in Bicycle Therapeutics by 33.2% during the third quarter. The Manufacturers Life Insurance Company now owns 129,705 shares of the company’s stock worth $2,935,000 after purchasing an additional 32,313 shares in the last quarter. Principal Financial Group Inc. purchased a new position in shares of Bicycle Therapeutics in the third quarter valued at $10,028,000. State Street Corp increased its position in shares of Bicycle Therapeutics by 233.5% in the third quarter. State Street Corp now owns 86,271 shares of the company’s stock valued at $1,952,000 after buying an additional 60,399 shares in the last quarter. Finally, Jane Street Group LLC raised its stake in shares of Bicycle Therapeutics by 35.7% during the 3rd quarter. Jane Street Group LLC now owns 20,180 shares of the company’s stock worth $457,000 after buying an additional 5,310 shares during the last quarter. 86.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Bicycle Therapeutics

In other news, insider Santiago Arroyo sold 4,943 shares of Bicycle Therapeutics stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $14.09, for a total value of $69,646.87. Following the transaction, the insider now directly owns 69,057 shares of the company’s stock, valued at $973,013.13. The trade was a 6.68 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CTO Michael Skynner sold 3,287 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $14.09, for a total transaction of $46,313.83. Following the completion of the transaction, the chief technology officer now owns 124,658 shares in the company, valued at $1,756,431.22. The trade was a 2.57 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 27,677 shares of company stock worth $392,413. 8.50% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Needham & Company LLC restated a “buy” rating and set a $30.00 target price on shares of Bicycle Therapeutics in a report on Tuesday, March 11th. JMP Securities cut their price objective on 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. Stephens reiterated an “equal weight” rating and set a $15.00 target price on shares of Bicycle Therapeutics in a report on Wednesday, January 22nd. B. Riley cut their price target on Bicycle Therapeutics from $28.00 to $17.00 and set a “neutral” rating for the company in a report on Friday, December 13th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $33.00 price objective on shares of Bicycle Therapeutics in a research note on Wednesday, February 26th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.14.

Bicycle Therapeutics Price Performance

NASDAQ BCYC opened at $9.20 on Tuesday. The company has a market cap of $636.66 million, a P/E ratio of -2.80 and a beta of 1.12. Bicycle Therapeutics plc has a 12 month low of $8.88 and a 12 month high of $28.67. The company has a 50-day moving average of $11.74 and a 200-day moving average of $17.91.

Bicycle Therapeutics (NASDAQ:BCYC) last posted its quarterly earnings results on Tuesday, February 25th. The company reported ($0.75) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.85) by $0.10. Bicycle Therapeutics had a negative net margin of 450.64% and a negative return on equity of 27.35%. The company had revenue of $3.70 million for the quarter, compared to the consensus estimate of $5.47 million. During the same quarter last year, the firm posted ($1.16) earnings per share. Bicycle Therapeutics’s revenue was down 30.2% on a year-over-year basis. As a group, equities research analysts anticipate that Bicycle Therapeutics plc will post -3.06 EPS 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.