Principal Financial Group Inc. Buys Shares of 443,141 Bicycle Therapeutics plc (NASDAQ:BCYC)

Principal Financial Group Inc. purchased a new position in shares of Bicycle Therapeutics plc (NASDAQ:BCYC) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 443,141 shares of the company’s stock, valued at approximately $10,028,000.

Several other hedge funds also recently modified their holdings of BCYC. GAMMA Investing LLC increased its stake in shares of 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 period. China Universal Asset Management Co. Ltd. increased its position in Bicycle Therapeutics by 69.1% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 7,138 shares of the company’s stock valued at $162,000 after purchasing an additional 2,918 shares during the period. XTX Topco Ltd bought a new position in Bicycle Therapeutics during the 2nd quarter worth approximately $206,000. Natixis Advisors LLC acquired a new position in shares of Bicycle Therapeutics in the 2nd quarter worth approximately $261,000. Finally, Harbor Capital Advisors Inc. boosted its stake in shares of Bicycle Therapeutics by 27.2% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 55,289 shares of the company’s stock valued at $1,119,000 after purchasing an additional 11,809 shares during the last quarter. Institutional investors and hedge funds own 86.15% of the company’s stock.

Bicycle Therapeutics Price Performance

NASDAQ:BCYC opened at $20.46 on Tuesday. The company has a market capitalization of $972.95 million, a price-to-earnings ratio of -6.35 and a beta of 0.89. The business has a 50 day moving average of $24.62 and a 200 day moving average of $23.15. Bicycle Therapeutics plc has a 1-year low of $13.07 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. 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 quarterly revenue was down 50.0% compared to the same quarter last year. During the same period in the prior year, the business posted ($1.26) EPS. As a group, sell-side analysts anticipate that Bicycle Therapeutics plc will post -3.01 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. B. Riley cut shares of Bicycle Therapeutics from a “buy” rating to a “neutral” rating and cut their price target for the company from $33.00 to $28.00 in a research report on Wednesday, August 7th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $35.00 target price on shares of Bicycle Therapeutics in a research note on Friday, November 1st. JMP Securities reissued a “market outperform” rating and issued a $32.00 price target on shares of Bicycle Therapeutics in a research note on Monday, September 16th. Needham & Company LLC reaffirmed a “buy” rating and set a $38.00 price objective on shares of Bicycle Therapeutics in a research report on Thursday, October 31st. Finally, Oppenheimer reiterated an “outperform” rating and issued a $48.00 price objective on shares of Bicycle Therapeutics in a research note on Wednesday, August 7th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Bicycle Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.13.

Insider Transactions at Bicycle Therapeutics

In other news, CEO Kevin Lee sold 3,212 shares of the business’s stock in a transaction 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 sale, the chief executive officer now owns 380,864 shares of the company’s stock, valued at $8,478,032.64. The trade was a 0.84 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Travis Alvin Thompson sold 6,256 shares of Bicycle Therapeutics stock in a transaction on Monday, November 11th. The shares were sold at an average price of $25.11, for a total transaction of $157,088.16. Following the transaction, the chief accounting officer now owns 19,241 shares in the company, valued at approximately $483,141.51. This trade represents a 24.54 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,840 shares of company stock valued at $259,128. Company insiders own 8.50% of the company’s stock.

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.