Principal Financial Group Inc. Grows Position in Bicycle Therapeutics PLC Sponsored ADR $BCYC

Principal Financial Group Inc. lifted its holdings in shares of Bicycle Therapeutics PLC Sponsored ADR (NASDAQ:BCYC) by 64.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,148,402 shares of the company’s stock after purchasing an additional 451,135 shares during the quarter. Principal Financial Group Inc. owned 1.66% of Bicycle Therapeutics worth $8,889,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. The Manufacturers Life Insurance Company lifted its position in Bicycle Therapeutics by 1.6% during the second quarter. The Manufacturers Life Insurance Company now owns 140,492 shares of the company’s stock valued at $976,000 after purchasing an additional 2,243 shares during the last quarter. Virtus Investment Advisers LLC increased its holdings in shares of Bicycle Therapeutics by 32.6% in the 2nd quarter. Virtus Investment Advisers LLC now owns 10,821 shares of the company’s stock worth $75,000 after buying an additional 2,659 shares during the last quarter. Ausdal Financial Partners Inc. purchased a new stake in shares of Bicycle Therapeutics during the 2nd quarter valued at $70,000. Sei Investments Co. bought a new stake in shares of Bicycle Therapeutics during the 2nd quarter worth $74,000. Finally, Ameriprise Financial Inc. purchased a new position in Bicycle Therapeutics in the second quarter worth $86,000. 86.15% of the stock is currently owned by institutional investors.

Bicycle Therapeutics Stock Performance

Shares of Bicycle Therapeutics stock opened at $5.36 on Friday. Bicycle Therapeutics PLC Sponsored ADR has a 52-week low of $5.18 and a 52-week high of $13.11. The company’s 50 day moving average price is $6.68 and its 200-day moving average price is $7.17. The stock has a market capitalization of $371.82 million, a price-to-earnings ratio of -1.48 and a beta of 1.63.

Analyst Upgrades and Downgrades

BCYC has been the topic of a number of research reports. Royal Bank Of Canada restated a “sector perform” rating and set a $11.00 price target (down previously from $27.00) on shares of Bicycle Therapeutics in a research report on Friday, October 31st. Citigroup reiterated an “outperform” rating on shares of Bicycle Therapeutics in a research report on Friday, October 31st. JMP Securities set a $12.00 target price on Bicycle Therapeutics in a research report on Friday, October 31st. Truist Financial started coverage on Bicycle Therapeutics in a research note on Monday, November 24th. They issued a “hold” rating and a $10.00 target price for the company. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Bicycle Therapeutics in a research note on Monday, December 22nd. Seven analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $20.20.

Insider Buying and Selling at Bicycle Therapeutics

In other Bicycle Therapeutics news, CEO Kevin Lee sold 10,989 shares of the firm’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $6.46, for a total value of $70,988.94. Following the sale, the chief executive officer owned 618,996 shares of the company’s stock, valued at $3,998,714.16. This trade represents a 1.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Alethia Young sold 4,334 shares of the stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $6.49, for a total transaction of $28,127.66. Following the sale, the chief financial officer owned 87,081 shares of the company’s stock, valued at approximately $565,155.69. This represents a 4.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 38,029 shares of company stock valued at $251,966 in the last three months. 22.90% of the stock is currently owned by corporate insiders.

Bicycle Therapeutics Company Profile

Bicycle Therapeutics plc is a clinical-stage biotechnology company specializing in the discovery and development of novel peptide therapeutics based on its proprietary bicyclic peptide platform. The company’s core technology leverages constrained peptide structures that combine the binding specificity of biologics with the favorable tissue-penetration properties of small molecules. This approach is designed to generate highly selective drug candidates with potential applications across a range of therapeutic areas, including oncology, neuroscience and immunology.

Bicycle Therapeutics maintains a diversified pipeline of internally developed programs as well as collaborations with leading pharmaceutical partners.