Acadian Asset Management LLC Buys 572,439 Shares of Bicycle Therapeutics PLC Sponsored ADR $BCYC

Acadian Asset Management LLC grew its stake in Bicycle Therapeutics PLC Sponsored ADR (NASDAQ:BCYC) by 454.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 698,501 shares of the company’s stock after purchasing an additional 572,439 shares during the period. Acadian Asset Management LLC owned approximately 1.01% of Bicycle Therapeutics worth $4,840,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Cerity Partners LLC acquired a new stake in shares of Bicycle Therapeutics during the first quarter worth $113,000. Portland Investment Counsel Inc. acquired a new position in Bicycle Therapeutics during the 1st quarter worth approximately $127,000. Tocqueville Asset Management L.P. increased its holdings in Bicycle Therapeutics by 24.5% in the first quarter. Tocqueville Asset Management L.P. now owns 18,300 shares of the company’s stock valued at $155,000 after purchasing an additional 3,600 shares during the period. Goldman Sachs Group Inc. bought a new stake in Bicycle Therapeutics in the first quarter worth approximately $214,000. Finally, Janney Montgomery Scott LLC acquired a new stake in Bicycle Therapeutics in the 2nd quarter valued at $697,000. Institutional investors and hedge funds own 86.15% of the company’s stock.

Bicycle Therapeutics Price Performance

NASDAQ:BCYC opened at $6.60 on Friday. The firm has a market cap of $457.45 million, a price-to-earnings ratio of -1.82 and a beta of 1.48. Bicycle Therapeutics PLC Sponsored ADR has a 1-year low of $6.10 and a 1-year high of $23.50. The company has a 50 day moving average price of $7.57 and a 200-day moving average price of $7.79.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on BCYC shares. Citigroup reissued an “outperform” rating on shares of Bicycle Therapeutics in a report on Friday, October 31st. Weiss Ratings reissued a “sell (e+)” rating on shares of Bicycle Therapeutics in a research note on Tuesday. Royal Bank Of Canada reiterated a “sector perform” rating and set a $11.00 price objective (down previously from $27.00) on shares of Bicycle Therapeutics in a research note on Friday, October 31st. Oppenheimer reissued an “outperform” rating and issued a $44.00 target price (down from $48.00) on shares of Bicycle Therapeutics in a research report on Monday, August 11th. Finally, Morgan Stanley dropped their price objective on Bicycle Therapeutics from $17.00 to $13.00 and set an “equal weight” rating for the company in a research note on Tuesday, August 12th. Seven 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. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $19.80.

Insider Activity

In other news, CEO Kevin Lee sold 3,231 shares of the business’s 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 sale, the chief executive officer directly owned 475,310 shares of the company’s stock, valued at approximately $3,997,357.10. The trade was a 0.68% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders sold 8,527 shares of company stock worth $71,738. 22.90% of the stock is currently owned by company insiders.

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.