Harbor Capital Advisors Inc. Cuts Position in Bicycle Therapeutics plc (NASDAQ:BCYC)

Harbor Capital Advisors Inc. lessened its stake in Bicycle Therapeutics plc (NASDAQ:BCYC) by 1.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 131,505 shares of the company’s stock after selling 2,202 shares during the quarter. Harbor Capital Advisors Inc. owned 0.19% of Bicycle Therapeutics worth $1,841,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Point72 Asset Management L.P. grew its holdings in shares of Bicycle Therapeutics by 1,438.1% in the 3rd quarter. Point72 Asset Management L.P. now owns 899,799 shares of the company’s stock worth $20,362,000 after acquiring an additional 841,299 shares during the period. Avoro Capital Advisors LLC purchased a new stake in Bicycle Therapeutics during the second quarter worth $14,168,000. Perceptive Advisors LLC acquired a new stake in Bicycle Therapeutics in the second quarter valued at $11,577,000. Principal Financial Group Inc. purchased a new position in shares of Bicycle Therapeutics in the third quarter valued at $10,028,000. Finally, Westfield Capital Management Co. LP raised its stake in shares of Bicycle Therapeutics by 21.5% during the 3rd quarter. Westfield Capital Management Co. LP now owns 1,850,945 shares of the company’s stock worth $41,887,000 after buying an additional 327,089 shares during the last quarter. Institutional investors and hedge funds own 86.15% of the company’s stock.

Bicycle Therapeutics Trading Down 6.1 %

Bicycle Therapeutics stock opened at $13.31 on Friday. The stock has a fifty day moving average price of $18.52 and a 200 day moving average price of $21.67. Bicycle Therapeutics plc has a 52 week low of $12.17 and a 52 week high of $28.67. The firm has a market capitalization of $919.00 million, a P/E ratio of -4.05 and a beta of 0.92.

Bicycle Therapeutics (NASDAQ:BCYC) last announced its quarterly earnings results on Thursday, October 31st. The company reported ($0.74) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.78) by $0.04. The company had revenue of $2.68 million for the quarter, compared to analyst estimates of $6.82 million. Bicycle Therapeutics had a negative net margin of 450.64% and a negative return on equity of 27.35%. Bicycle Therapeutics’s revenue for the quarter was down 50.0% on a year-over-year basis. During the same quarter last year, the business earned ($1.26) EPS. As a group, equities analysts predict that Bicycle Therapeutics plc will post -3.05 EPS for the current year.

Insider Buying and Selling

In other news, COO Alistair Milnes sold 4,578 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $14.09, for a total transaction of $64,504.02. Following the transaction, the chief operating officer now directly owns 100,724 shares of the company’s stock, valued at approximately $1,419,201.16. The trade was a 4.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Santiago Arroyo sold 4,943 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $14.09, for a total transaction of $69,646.87. Following the completion of the transaction, the insider now owns 69,057 shares in the company, valued at $973,013.13. This represents a 6.68 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 33,933 shares of company stock valued at $549,501. Company insiders own 8.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on BCYC. HC Wainwright dropped their target price on shares of Bicycle Therapeutics from $55.00 to $33.00 and set a “buy” rating for the company in a report on Monday, December 16th. Royal Bank of Canada restated an “outperform” rating and set a $35.00 price objective on shares of Bicycle Therapeutics in a research report on Friday, November 1st. JMP Securities lowered their target price on Bicycle Therapeutics from $32.00 to $26.00 and set a “market outperform” rating on the stock in a report on Wednesday, December 18th. Needham & Company LLC reissued a “buy” rating and set a $38.00 price target on shares of Bicycle Therapeutics in a research report on Thursday, October 31st. Finally, Stephens assumed coverage on Bicycle Therapeutics in a research report on Friday, November 8th. They issued an “equal weight” rating and a $25.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $35.25.

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.