Bicycle Therapeutics plc (NASDAQ:BCYC) Position Cut by Parkman Healthcare Partners LLC

Parkman Healthcare Partners LLC lowered its holdings in shares of Bicycle Therapeutics plc (NASDAQ:BCYC) by 16.8% during the 3rd quarter, Holdings Channel reports. The fund owned 445,396 shares of the company’s stock after selling 89,667 shares during the period. Bicycle Therapeutics makes up approximately 1.3% of Parkman Healthcare Partners LLC’s portfolio, making the stock its 26th largest holding. Parkman Healthcare Partners LLC’s holdings in Bicycle Therapeutics were worth $10,079,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of BCYC. Assetmark Inc. acquired a new position in shares of Bicycle Therapeutics during the third quarter valued at approximately $34,000. GAMMA Investing LLC boosted its stake in Bicycle Therapeutics by 105.1% during 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 in the last quarter. China Universal Asset Management Co. Ltd. grew its holdings 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 acquiring an additional 2,918 shares during the period. XTX Topco Ltd acquired a new stake in Bicycle Therapeutics in the 2nd quarter valued at about $206,000. Finally, Crossmark Global Holdings Inc. bought a new position in shares of Bicycle Therapeutics during the 3rd quarter valued at about $257,000. Institutional investors own 86.15% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on BCYC. Royal Bank of Canada reiterated an “outperform” rating and issued a $35.00 target price on shares of Bicycle Therapeutics in a report on Friday, November 1st. B. Riley lowered Bicycle Therapeutics from a “buy” rating to a “neutral” rating and cut their target price for the stock from $33.00 to $28.00 in a research report on Wednesday, August 7th. JMP Securities reiterated a “market outperform” rating and issued a $32.00 price target on shares of Bicycle Therapeutics in a research report on Monday, September 16th. Oppenheimer reaffirmed an “outperform” rating and set a $48.00 price objective on shares of Bicycle Therapeutics in a research note on Wednesday, August 7th. Finally, HC Wainwright reissued a “buy” rating and issued a $55.00 target price on shares of Bicycle Therapeutics in a research report on Friday, November 1st. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, Bicycle Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $40.13.

Bicycle Therapeutics Price Performance

Bicycle Therapeutics stock opened at $19.45 on Wednesday. Bicycle Therapeutics plc has a one year low of $14.33 and a one year high of $28.67. The company’s fifty day moving average price is $23.34 and its two-hundred day moving average price is $22.92. The company has a market capitalization of $924.85 million, a price-to-earnings ratio of -5.91 and a beta of 0.86.

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

Insiders Place Their Bets

In related news, CEO Kevin Lee sold 3,212 shares of the business’s 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 approximately $8,478,032.64. The trade was a 0.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Travis Alvin Thompson sold 6,256 shares of Bicycle Therapeutics stock in a transaction on Monday, November 11th. The stock was sold at an average price of $25.11, for a total transaction of $157,088.16. Following the transaction, the chief accounting officer now directly owns 19,241 shares in the company, valued at approximately $483,141.51. This represents a 24.54 % 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 worth $259,128 over the last 90 days. Corporate insiders own 8.50% of the company’s stock.

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.