Parkman Healthcare Partners LLC Sells 92,915 Shares of Bicycle Therapeutics plc (NASDAQ:BCYC)

Parkman Healthcare Partners LLC lessened its holdings in shares of Bicycle Therapeutics plc (NASDAQ:BCYC) by 20.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 352,481 shares of the company’s stock after selling 92,915 shares during the period. Parkman Healthcare Partners LLC’s holdings in Bicycle Therapeutics were worth $4,935,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Bicycle Therapeutics by 43.3% in the 4th quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 80,236 shares of the company’s stock worth $1,123,000 after buying an additional 24,260 shares during the last quarter. Millennium Management LLC bought a new position in shares of Bicycle Therapeutics during the 4th quarter valued at approximately $2,475,000. Fcpm Iii Services B.V. boosted its stake in Bicycle Therapeutics by 47.5% in the 4th quarter. Fcpm Iii Services B.V. now owns 3,452,330 shares of the company’s stock worth $48,333,000 after purchasing an additional 1,112,369 shares during the period. Caption Management LLC bought a new position in Bicycle Therapeutics in the 4th quarter worth approximately $2,283,000. Finally, Baker BROS. Advisors LP boosted its stake in Bicycle Therapeutics by 15.8% in the 4th quarter. Baker BROS. Advisors LP now owns 10,885,357 shares of the company’s stock worth $152,395,000 after purchasing an additional 1,485,397 shares during the period. Hedge funds and other institutional investors own 86.15% of the company’s stock.

Bicycle Therapeutics Price Performance

NASDAQ BCYC opened at $8.11 on Wednesday. The firm has a market cap of $561.65 million, a P/E ratio of -2.47 and a beta of 1.60. The stock’s 50-day moving average is $8.36 and its two-hundred day moving average is $13.53. Bicycle Therapeutics plc has a fifty-two week low of $6.10 and a fifty-two week high of $28.67.

Bicycle Therapeutics (NASDAQ:BCYC) last released its quarterly earnings data on Thursday, May 1st. The company reported ($0.88) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.86) by ($0.02). Bicycle Therapeutics had a negative net margin of 450.64% and a negative return on equity of 27.35%. The company had revenue of $9.98 million for the quarter, compared to analyst estimates of $8.67 million. On average, equities analysts expect that Bicycle Therapeutics plc will post -3.06 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on BCYC. Barclays cut their price target on Bicycle Therapeutics from $40.00 to $15.00 and set an “overweight” rating on the stock in a research note on Thursday, May 1st. Morgan Stanley set a $17.00 target price on Bicycle Therapeutics and gave the stock an “equal weight” rating in a report on Monday, May 5th. HC Wainwright reiterated a “buy” rating and set a $33.00 price target on shares of Bicycle Therapeutics in a research report on Wednesday, February 26th. Royal Bank of Canada reduced their price target on Bicycle Therapeutics from $35.00 to $32.00 and set an “outperform” rating on the stock in a research report on Friday, May 2nd. Finally, Stephens reissued an “equal weight” rating and set a $15.00 target price on shares of Bicycle Therapeutics in a research report on Wednesday, January 22nd. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $25.00.

About Bicycle Therapeutics

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.