PNC Financial Services Group Inc. Purchases New Position in Bicycle Therapeutics plc (NASDAQ:BCYC)

PNC Financial Services Group Inc. acquired a new stake in Bicycle Therapeutics plc (NASDAQ:BCYC) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 7,560 shares of the company’s stock, valued at approximately $137,000.

Several other institutional investors have also added to or reduced their stakes in BCYC. Kennedy Capital Management LLC boosted its position in shares of Bicycle Therapeutics by 27.2% during the third quarter. Kennedy Capital Management LLC now owns 156,705 shares of the company’s stock valued at $3,148,000 after buying an additional 33,517 shares during the last quarter. Polar Capital Holdings Plc grew its stake in shares of Bicycle Therapeutics by 33.2% in the third quarter. Polar Capital Holdings Plc now owns 1,011,500 shares of the company’s stock worth $20,321,000 after acquiring an additional 252,000 shares during the period. Exchange Traded Concepts LLC lifted its position in Bicycle Therapeutics by 34.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 6,727 shares of the company’s stock valued at $122,000 after purchasing an additional 1,706 shares during the period. Woodstock Corp boosted its holdings in Bicycle Therapeutics by 4.5% in the fourth quarter. Woodstock Corp now owns 21,479 shares of the company’s stock worth $388,000 after purchasing an additional 926 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. grew its position in Bicycle Therapeutics by 489.2% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 4,001 shares of the company’s stock worth $72,000 after purchasing an additional 3,322 shares during the period. 86.15% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BCYC has been the topic of a number of research reports. Needham & Company LLC restated a “buy” rating and issued a $43.00 price target on shares of Bicycle Therapeutics in a research note on Wednesday, April 10th. HC Wainwright restated a “buy” rating and set a $55.00 price target on shares of Bicycle Therapeutics in a research note on Friday, May 3rd. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Bicycle Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $46.86.

Bicycle Therapeutics Price Performance

NASDAQ BCYC opened at $19.58 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 10.42 and a current ratio of 10.42. The business’s fifty day moving average is $22.24 and its 200 day moving average is $21.59. The company has a market capitalization of $837.63 million, a PE ratio of -4.40 and a beta of 0.93. Bicycle Therapeutics plc has a fifty-two week low of $12.54 and a fifty-two week high of $27.50.

Bicycle Therapeutics (NASDAQ:BCYC) last posted its quarterly earnings data on Thursday, May 2nd. The company reported ($0.62) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.25) by $0.63. The firm had revenue of $19.53 million for the quarter, compared to analysts’ expectations of $6.06 million. Bicycle Therapeutics had a negative return on equity of 49.35% and a negative net margin of 404.14%. The firm’s revenue was up 298.9% on a year-over-year basis. Sell-side analysts predict that Bicycle Therapeutics plc will post -4.44 earnings per share for the current year.

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.