Bicycle Therapeutics plc (NASDAQ:BCYC) Shares Sold by Horizon Kinetics Asset Management LLC

Horizon Kinetics Asset Management LLC lessened its stake in Bicycle Therapeutics plc (NASDAQ:BCYC) by 4.2% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,792 shares of the company’s stock after selling 604 shares during the period. Horizon Kinetics Asset Management LLC’s holdings in Bicycle Therapeutics were worth $312,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD increased its position in Bicycle Therapeutics by 45.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 401,646 shares of the company’s stock valued at $10,001,000 after acquiring an additional 124,809 shares during the period. TD Asset Management Inc increased its position in Bicycle Therapeutics by 76.7% in the 2nd quarter. TD Asset Management Inc now owns 97,186 shares of the company’s stock valued at $1,967,000 after acquiring an additional 42,200 shares during the period. Perceptive Advisors LLC acquired a new position in Bicycle Therapeutics in the 2nd quarter valued at about $11,577,000. 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. Finally, Renaissance Technologies LLC increased its position in Bicycle Therapeutics by 97.2% in the 2nd quarter. Renaissance Technologies LLC now owns 326,800 shares of the company’s stock valued at $6,614,000 after acquiring an additional 161,100 shares during the period. Institutional investors and hedge funds own 86.15% of the company’s stock.

Bicycle Therapeutics Price Performance

Shares of NASDAQ:BCYC opened at $20.40 on Wednesday. The business’s 50 day simple moving average is $23.87 and its 200-day simple moving average is $23.01. The firm has a market capitalization of $970.02 million, a price-to-earnings ratio of -6.18 and a beta of 0.89. Bicycle Therapeutics plc has a 12 month low of $13.31 and a 12 month high of $28.67.

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

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on BCYC shares. JMP Securities restated a “market outperform” rating and issued a $32.00 price target on shares of Bicycle Therapeutics in a research report on Monday, September 16th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Bicycle Therapeutics in a report on Monday, September 9th. B. Riley lowered Bicycle Therapeutics from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $33.00 to $28.00 in a report on Wednesday, August 7th. Stephens started coverage on Bicycle Therapeutics in a report on Friday, November 8th. They issued an “equal weight” rating and a $25.00 price objective on the stock. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $55.00 price objective on shares of Bicycle Therapeutics in a report on Friday, November 1st. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $40.13.

Insider Transactions at Bicycle Therapeutics

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

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.