Platinum Investment Management Ltd. Reduces Holdings in Bicycle Therapeutics PLC Sponsored ADR $BCYC

Platinum Investment Management Ltd. trimmed its position in shares of Bicycle Therapeutics PLC Sponsored ADR (NASDAQ:BCYC) by 0.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 285,381 shares of the company’s stock after selling 2,218 shares during the quarter. Platinum Investment Management Ltd.’s holdings in Bicycle Therapeutics were worth $1,983,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in BCYC. Tocqueville Asset Management L.P. grew its holdings in Bicycle Therapeutics by 24.5% in the 1st quarter. Tocqueville Asset Management L.P. now owns 18,300 shares of the company’s stock valued at $155,000 after buying an additional 3,600 shares in the last quarter. Exchange Traded Concepts LLC grew its holdings in Bicycle Therapeutics by 90.3% in the 1st quarter. Exchange Traded Concepts LLC now owns 12,764 shares of the company’s stock valued at $108,000 after buying an additional 6,057 shares in the last quarter. GAMMA Investing LLC grew its holdings in Bicycle Therapeutics by 879.5% in the 1st quarter. GAMMA Investing LLC now owns 8,982 shares of the company’s stock valued at $76,000 after buying an additional 8,065 shares in the last quarter. Cerity Partners LLC purchased a new stake in Bicycle Therapeutics in the 1st quarter valued at $113,000. Finally, Portland Investment Counsel Inc. purchased a new stake in Bicycle Therapeutics in the 1st quarter valued at $127,000. 86.15% of the stock is currently owned by hedge funds and other institutional investors.

Bicycle Therapeutics Trading Up 7.6%

BCYC opened at $8.33 on Thursday. The stock’s 50-day moving average price is $7.45 and its 200 day moving average price is $7.84. Bicycle Therapeutics PLC Sponsored ADR has a 12-month low of $6.10 and a 12-month high of $28.67. The firm has a market cap of $577.35 million, a price-to-earnings ratio of -2.37 and a beta of 1.47.

Bicycle Therapeutics (NASDAQ:BCYC) last posted its earnings results on Friday, August 8th. The company reported ($1.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.95) by ($0.19). Bicycle Therapeutics had a negative return on equity of 32.43% and a negative net margin of 1,257.00%.The firm had revenue of $2.90 million for the quarter, compared to analyst estimates of $9.43 million. On average, research analysts forecast that Bicycle Therapeutics PLC Sponsored ADR will post -3.06 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on BCYC. Morgan Stanley dropped their target price on Bicycle Therapeutics from $17.00 to $13.00 and set an “equal weight” rating for the company in a report on Tuesday, August 12th. Royal Bank Of Canada set a $27.00 price target on Bicycle Therapeutics and gave the company an “outperform” rating in a research note on Monday, August 11th. Oppenheimer reaffirmed an “outperform” rating and issued a $44.00 price target (down previously from $48.00) on shares of Bicycle Therapeutics in a research note on Monday, August 11th. Finally, JMP Securities decreased their price target on Bicycle Therapeutics from $22.00 to $10.00 and set a “market outperform” rating on the stock in a research note on Tuesday, August 12th. Six equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.22.

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.