Principal Financial Group Inc. Raises Stake in Bicycle Therapeutics PLC Sponsored ADR (NASDAQ:BCYC)

Principal Financial Group Inc. lifted its holdings in Bicycle Therapeutics PLC Sponsored ADR (NASDAQ:BCYC) by 55.3% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 631,260 shares of the company’s stock after acquiring an additional 224,790 shares during the quarter. Principal Financial Group Inc. owned 0.91% of Bicycle Therapeutics worth $5,359,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Baker BROS. Advisors LP grew its holdings in shares of Bicycle Therapeutics by 15.8% in the fourth 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 last quarter. Exchange Traded Concepts LLC increased its holdings in Bicycle Therapeutics by 90.3% during the 1st quarter. Exchange Traded Concepts LLC now owns 12,764 shares of the company’s stock valued at $108,000 after purchasing an additional 6,057 shares during the period. EntryPoint Capital LLC bought a new position in Bicycle Therapeutics during the 4th quarter valued at approximately $614,000. Fcpm Iii Services B.V. raised its holdings in shares of Bicycle Therapeutics by 47.5% during the fourth quarter. Fcpm Iii Services B.V. now owns 3,452,330 shares of the company’s stock valued at $48,333,000 after acquiring an additional 1,112,369 shares in the last quarter. Finally, Nan Fung Group Holdings Ltd increased its position in Bicycle Therapeutics by 118.3% during the 4th quarter. Nan Fung Group Holdings Ltd now owns 68,943 shares of the company’s stock valued at $965,000 after purchasing an additional 37,358 shares during the period. Institutional investors own 86.15% of the company’s stock.

Bicycle Therapeutics Trading Up 1.3%

NASDAQ BCYC opened at $7.78 on Thursday. Bicycle Therapeutics PLC Sponsored ADR has a 12 month low of $6.10 and a 12 month high of $28.67. The stock has a market cap of $538.77 million, a PE ratio of -2.48 and a beta of 1.41. The stock’s 50 day moving average is $7.96 and its 200 day moving average is $9.73.

Bicycle Therapeutics (NASDAQ:BCYC) last posted its earnings results on Thursday, May 1st. The company reported ($0.88) EPS for the quarter, missing analysts’ consensus estimates of ($0.86) by ($0.02). Bicycle Therapeutics had a negative return on equity of 25.54% and a negative net margin of 790.07%. The firm had revenue of $9.98 million during the quarter, compared to analysts’ expectations of $8.67 million. On average, analysts forecast that Bicycle Therapeutics PLC Sponsored ADR will post -3.06 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on BCYC. Royal Bank Of Canada decreased their target price on Bicycle Therapeutics from $35.00 to $32.00 and set an “outperform” rating for the company in a research report on Friday, May 2nd. B. Riley cut their price target on Bicycle Therapeutics from $17.00 to $14.00 and set a “neutral” rating on the stock in a research note on Friday, May 2nd. JMP Securities cut their target price on Bicycle Therapeutics from $26.00 to $22.00 and set a “market outperform” rating on the stock in a research note on Friday, May 2nd. Barclays reduced their price objective on shares of Bicycle Therapeutics from $40.00 to $15.00 and set an “overweight” rating for the company in a research note on Thursday, May 1st. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $29.00 price objective on shares of Bicycle Therapeutics in a research report on Friday, May 2nd. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $25.00.

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.