Bicycle Therapeutics jumps as Baker Bros boosts stake

Bicycle Therapeutics

13/02/2024 14:07

** Shares of Bicycle Therapeutics plc  BCYC.O  up 9.8%
premarket to $19.12, about 1-mth high, as prominent health care
investor Baker Bros increases its holdings
    ** Hedge fund manager Baker Bros Advisors disclosed owning
~4.8 mln shares, including call options, for 12.8% stake in the
UK-based oncology-focused biotech firm as of Jan 31, per SEC
filing late Mon
    ** At end-Sept, Baker held about 840k shares for 2.2% stake,
according to LSEG data
    ** Baker also has stakes in a plethora of other pharma
firms, including China's Beigene, Incyte Corp, Acadia
Pharmaceuticals, Madrigal Pharmaceuticals, BioMarin
Pharmaceutical and Roivant Sciences
    ** Through Mon close, BCYC has lost ~37% over the past year
    ** Avg rating among 12 analysts is "buy" and median PT is
$41.50 - LSEG

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))