Pinnacle Associates Ltd. Sells 42,325 Shares of Bicycle Therapeutics PLC Sponsored ADR $BCYC

Pinnacle Associates Ltd. lowered its holdings in shares of Bicycle Therapeutics PLC Sponsored ADR (NASDAQ:BCYC) by 19.8% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 171,953 shares of the company’s stock after selling 42,325 shares during the period. Pinnacle Associates Ltd.’s holdings in Bicycle Therapeutics were worth $1,195,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Tybourne Capital Management HK Ltd. grew its holdings in Bicycle Therapeutics by 72.4% during the second quarter. Tybourne Capital Management HK Ltd. now owns 993,743 shares of the company’s stock worth $6,907,000 after purchasing an additional 417,400 shares during the period. Janney Montgomery Scott LLC bought a new position in Bicycle Therapeutics during the second quarter worth about $697,000. Goldman Sachs Group Inc. bought a new position in Bicycle Therapeutics during the first quarter worth about $214,000. Acadian Asset Management LLC bought a new position in Bicycle Therapeutics during the first quarter worth about $1,065,000. Finally, Woodline Partners LP bought a new position in Bicycle Therapeutics during the first quarter worth about $3,088,000. Institutional investors own 86.15% of the company’s stock.

Bicycle Therapeutics Trading Down 7.9%

NASDAQ BCYC opened at $8.07 on Monday. Bicycle Therapeutics PLC Sponsored ADR has a 1-year low of $6.10 and a 1-year high of $25.39. The company has a 50 day moving average of $7.66 and a 200-day moving average of $7.88. The company has a market cap of $559.33 million, a price-to-earnings ratio of -2.23 and a beta of 1.48.

Bicycle Therapeutics (NASDAQ:BCYC) last released its quarterly earnings results on Friday, August 8th. The company reported ($1.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.95) by ($0.19). Bicycle Therapeutics had a negative net margin of 884.51% and a negative return on equity of 36.05%. The business had revenue of $2.90 million during the quarter, compared to analyst estimates of $9.43 million. On average, equities research analysts forecast that Bicycle Therapeutics PLC Sponsored ADR will post -3.06 earnings per share for the current year.

Insider Buying and Selling at Bicycle Therapeutics

In other news, CEO Kevin Lee sold 3,231 shares of Bicycle Therapeutics stock in a transaction that occurred on Friday, October 3rd. The shares were sold at an average price of $8.41, for a total value of $27,172.71. Following the completion of the sale, the chief executive officer directly owned 475,310 shares in the company, valued at approximately $3,997,357.10. The trade was a 0.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 8,527 shares of company stock valued at $71,738 in the last three months. 8.50% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

BCYC has been the subject of a number of research analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Bicycle Therapeutics in a report on Tuesday, October 14th. Citizens Jmp raised their price objective on shares of Bicycle Therapeutics from $10.00 to $12.00 and gave the stock a “market outperform” rating in a research report on Friday. Royal Bank Of Canada restated a “sector perform” rating and set a $11.00 price objective (down from $27.00) on shares of Bicycle Therapeutics in a research report on Friday. JMP Securities set a $12.00 price objective on shares of Bicycle Therapeutics in a research report on Friday. Finally, Morgan Stanley cut their price objective on shares of Bicycle Therapeutics from $17.00 to $13.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 12th. Seven equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.80.

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.