BICYCLE THERAPEUTICS PLC BCYC
SPONSORED ADS · ADR · CUSIP 088786108 · ISIN US0887861088
Company in Cambridge, United Kingdom
- SectorHealth care
- IndustryPharmaceutical Preparations
- HeadquartersCambridge, United Kingdom
- Founded2009
- Websitebicycletherapeutics.com
- FilingsSEC EDGAR
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($800.4k this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $7.74. Options: 5 managers hold calls ($402.0k notional), 3 hold puts ($39.3k).
Trends to Q3 2025
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 80 |
| Q4 2022 | 87 |
| Q1 2023 | 90 |
| Q2 2023 | 86 |
| Q3 2023 | 102 |
| Q4 2023 | 102 |
| Q1 2024 | 96 |
| Q2 2024 | 108 |
| Q3 2024 | 106 |
| Q4 2024 | 98 |
| Q1 2025 | 96 |
| Q2 2025 | 111 |
| Q3 2025 | 99 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q4 2023 | 54 | 51 |
| Q1 2024 | 40 | 49 |
| Q2 2024 | 60 | 39 |
| Q3 2024 | 50 | 51 |
| Q4 2024 | 40 | 59 |
| Q1 2025 | 42 | 46 |
| Q2 2025 | 67 | 34 |
| Q3 2025 | 48 | 44 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q4 2024 | $148.2k | $255.8k | 1.73 |
| Q1 2025 | $83.5k | $268.8k | 3.22 |
| Q2 2025 | $407.0k | $125.5k | 0.31 |
| Q3 2025 | $402.0k | $39.3k | 0.10 |
Biggest buyers
| ACADIAN ASSET MANAGEMENT LLC | Added | +616.1k |
| PRINCIPAL FINANCIAL GROUP INC | Added | +451.1k |
| SILVERCREST ASSET MANAGEMENT GROUP LLC | Added | +211.3k |
| RENAISSANCE TECHNOLOGIES LLC | Added | +200.3k |
| ARMISTICE CAPITAL, LLC | Added | +178.0k |
| WESTFIELD CAPITAL MANAGEMENT CO LP | Added | +172.1k |
| Birchview Capital, LP | New | +154.0k |
| TWO SIGMA INVESTMENTS, LP | Added | +128.3k |
| Long Focus Capital Management, LLC | Added | +101.4k |
| TWO SIGMA ADVISERS, LP | Added | +86.5k |
Biggest sellers
| Point72 Asset Management, L.P. | Reduced | -1.3m |
| Deep Track Capital, LP | Sold out | -1.2m |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. | Sold out | -1.0m |
| TYBOURNE CAPITAL MANAGEMENT (HK) LTD | Sold out | -993.7k |
| MILLENNIUM MANAGEMENT LLC | Reduced | -388.9k |
| Woodline Partners LP | Sold out | -362.3k |
| AXA S.A. | Sold out | -280.2k |
| BANK OF AMERICA CORP /DE/ | Reduced | -239.1k |
| MORGAN STANLEY | Reduced | -214.4k |
| PLATINUM INVESTMENT MANAGEMENT LTD | Reduced | -100.8k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | New | $163.3k21.1k shares |
| GROUP ONE TRADING LLC | Added | $92.9k12.0k shares |
| SIMPLEX TRADING, LLC | Added | $79.0k10.3k shares |
| Walleye Trading LLC | Reduced | $65.8k8.5k shares |
| FNY Investment Advisers, LLC | New | $1.0k140 shares |
Biggest puts
| Walleye Trading LLC | Added | $28.6k3.7k shares |
| SIMPLEX TRADING, LLC | Reduced | $6.0k900 shares |
| GROUP ONE TRADING LLC | Unchanged | $4.6k600 shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| Forbion Growth Opportunities Fund II Cooperatief U.A. 13G · passive investor new · filed 2024-12-19 | 7.3% |
| ARMISTICE CAPITAL, LLC 13G · institution no change · filed 2026-08-14 | 6.7% |
| Long Focus Capital Management, LLC 13G · institution new · filed 2026-05-15 | 6.6% |
Fell to 5% or below in the last year: Invus Global Management, LLC (3.1%, 2026-05-04), WESTFIELD CAPITAL MANAGEMENT CO LP (0.0%, 2026-03-04)
Insider purchases and sales in Q3 2025
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q4 2023 | 0 | — | 6 | $44.8k | — |
| Q1 2024 | 0 | — | 6 | $255.3k | — |
| Q2 2024 | 0 | — | 7 | $126.1k | — |
| Q3 2024 | 0 | — | 7 | $104.8k | — |
| Q4 2024 | 1 | $21.2m | 6 | $259.2k | $157.1k |
| Q1 2025 | 0 | — | 8 | $520.6k | $67.3k |
| Q2 2025 | 0 | — | 6 | $77.0k | — |
| Q3 2025 | 0 | — | 6 | $69.9k | — |
| Date | Insider | Trade | Value |
|---|---|---|---|
| 2025-07-03 | Lee Kevin CHIEF EXECUTIVE OFFICER, director | Sold | $23.8k3.2k shares |
| 2025-07-03 | Milnes Alistair CHIEF OPERATING OFFICER | Sold | $7.2k966 shares |
| 2025-07-03 | Skynner Michael CHIEF TECHNOLOGY OFFICER | Sold | $7.2k966 shares |
| 2025-07-03 | Hannay Michael Charles Ferguson CHIEF PROD & SUPPLY CHAIN OFF | Sold | $1.8k248 shares |
| 2025-07-03 | Thompson Travis Alvin CHIEF ACCOUNTING OFFICER | Sold | $744100 shares |
| 2025-07-02 | Lee Kevin CHIEF EXECUTIVE OFFICER, director | Sold | $16.1k2.3k shares |
| 2025-07-02 | Milnes Alistair CHIEF OPERATING OFFICER | Sold | $8.1k1.1k shares |
| 2025-07-02 | Skynner Michael CHIEF TECHNOLOGY OFFICER | Sold | $5.8k825 shares |
| 2025-07-02 | Hannay Michael Charles Ferguson CHIEF PROD & SUPPLY CHAIN OFF | Sold | $3.4k474 shares |
| 2025-07-02 | Thompson Travis Alvin CHIEF ACCOUNTING OFFICER | Sold | $1.5k206 shares |
| 2025-07-02 | Young Alethia Chief Financial Officer | Sold | $1.4k204 shares |
Their holding: how much the trade added to or took from the insider's holding (direct, or the trust or fund named). The same trade is sometimes reported by more than one insider, such as a fund and the director who represents it; totals count it once. A value is left blank where the reported price is far from the market price (usually a typo).
Holders, Q3 2025
| Manager | Shares | Change |
|---|---|---|
| BAKER BROS. ADVISORS LP 0.61% of their portfolio | 10.9m $84.3m | Unchanged |
| FCPM III SERVICES B.V. 5.34% of their portfolio | 3.5m $26.7m | Unchanged |
| ARMISTICE CAPITAL, LLC 0.72% of their portfolio | 3.0m $23.0m | Added +178.0k |
| WESTFIELD CAPITAL MANAGEMENT CO LP 0.10% of their portfolio | 3.0m $22.9m | Added +172.1k |
| Siren, L.L.C. 0.61% of their portfolio | 2.0m $15.6m | Unchanged |
| Long Focus Capital Management, LLC 0.63% of their portfolio | 1.4m $11.0m | Added +101.4k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 1.4m $10.7m | Reduced -83.6k |
| ACADIAN ASSET MANAGEMENT LLC 0.02% of their portfolio | 1.3m $10.2m | Added +616.1k |
| Candriam S.C.A. 0.05% of their portfolio | 1.2m $9.1m | Unchanged |
| PRINCIPAL FINANCIAL GROUP INC 0.00% of their portfolio | 1.1m $8.9m | Added +451.1k |
| MILLENNIUM MANAGEMENT LLC 0.01% of their portfolio | 1.1m $8.2m | Reduced -388.9k |
| MORGAN STANLEY 0.00% of their portfolio | 822.7k $6.4m | Reduced -214.4k |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 591.5k $4.6m | Reduced -239.1k |
| RENAISSANCE TECHNOLOGIES LLC 0.01% of their portfolio | 518.7k $4.0m | Added +200.3k |
| SILVERCREST ASSET MANAGEMENT GROUP LLC 0.02% of their portfolio | 477.0k $3.7m | Added +211.3k |
| Point72 Asset Management, L.P. 0.01% of their portfolio | 430.9k $3.3m | Reduced -1.3m |
| Jefferies Financial Group Inc. 0.03% of their portfolio | 401.9k $3.1m | Reduced -59.2k |
| BlackRock, Inc. 0.00% of their portfolio | 282.4k $2.2m | Added +18.1k |
| Palo Alto Investors LP 0.32% of their portfolio | 221.1k $1.7m | Reduced -27.9k |
| Legal & General Group Plc 0.00% of their portfolio | 197.9k $1.5m | Added +23.0k |
| PINNACLE ASSOCIATES LTD 0.02% of their portfolio | 196.6k $1.5m | Added +24.7k |
| Eversept Partners, LP 0.12% of their portfolio | 194.4k $1.5m | Reduced -17.0k |
| CITADEL ADVISORS LLC 0.00% of their portfolio | 189.0k $1.5m | Added +49.6k |
| PLATINUM INVESTMENT MANAGEMENT LTD 0.09% of their portfolio | 184.6k $1.4m | Reduced -100.8k |
| TWO SIGMA INVESTMENTS, LP 0.00% of their portfolio | 184.5k $1.4m | Added +128.3k |
| TD Asset Management Inc 0.00% of their portfolio | 178.1k $1.4m | Reduced -15.0k |
| TWO SIGMA ADVISERS, LP 0.00% of their portfolio | 156.7k $1.2m | Added +86.5k |
| Birchview Capital, LP 0.90% of their portfolio | 154.0k $1.2m | New |
| Handelsbanken Fonder AB 0.00% of their portfolio | 150.0k $1.2m | Reduced -50.0k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.00% of their portfolio | 140.5k $1.1m | Unchanged |
| Rangeley Capital, LLC 0.94% of their portfolio | 130.0k $1.0m | Added +55.0k |
| MOORE CAPITAL MANAGEMENT, LP 0.02% of their portfolio | 125.0k $967.5k | Added +50.0k |
| Cubist Systematic Strategies, LLC 0.01% of their portfolio | 103.4k $800.4k | Added +15.7k |
| JANE STREET GROUP, LLC 0.00% of their portfolio | 102.5k $793.0k | Added +79.9k |
| MONIMUS CAPITAL MANAGEMENT, LP 0.49% of their portfolio | 85.2k $659.6k | Unchanged |
| STATE STREET CORP 0.00% of their portfolio | 74.4k $575.9k | Added +8.4k |
| Nan Fung Group Holdings Ltd 0.90% of their portfolio | 68.9k $533.6k | Unchanged |
| DAFNA Capital Management LLC 0.12% of their portfolio | 64.5k $499.2k | Unchanged |
| SEI INVESTMENTS CO 0.00% of their portfolio | 49.1k $379.7k | Added +38.4k |
| State of Tennessee, Department of Treasury 0.00% of their portfolio | 44.8k $347.1k | Added +30.5k |
| HARBOR CAPITAL ADVISORS, INC. 0.02% of their portfolio | 41.4k $320.0k | Reduced -97.3k |
| Man Group plc 0.00% of their portfolio | 40.9k $316.5k | Added +12.2k |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 39.9k $309.0k | Reduced -487 |
| DekaBank Deutsche Girozentrale 0.00% of their portfolio | 30.0k $220.0k | Unchanged |
| Dynamic Technology Lab Private Ltd 0.04% of their portfolio | 28.0k $216.0k | Reduced -18.0k |
| Quadrature Capital Ltd 0.00% of their portfolio | 27.9k $215.6k | Added +10.2k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio | 26.6k $206.1k | Added +62 |
| ALPS ADVISORS INC 0.00% of their portfolio | 24.1k $186.7k | Reduced -1.6k |
| WOODSTOCK CORP 0.02% of their portfolio | 23.9k $185.2k | Unchanged |
| Jump Financial, LLC 0.00% of their portfolio | 21.4k $165.8k | Added +4.7k |
| State of New Jersey Common Pension Fund D 0.00% of their portfolio | 20.1k $155.6k | New |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 16.3k $125.8k | Added +8.6k |
| PORTLAND INVESTMENT COUNSEL INC. 0.03% of their portfolio | 15.0k $116.1k | Unchanged |
| AMERIPRISE FINANCIAL INC 0.00% of their portfolio | 15.0k $115.9k | Added +2.7k |
| HORIZON KINETICS ASSET MANAGEMENT LLC 0.00% of their portfolio | 14.4k $111.4k | Added +604 |
| Cerity Partners LLC 0.00% of their portfolio | 14.3k $111.1k | Unchanged |
| Federation des caisses Desjardins du Quebec 0.00% of their portfolio | 14.3k $110.7k | Added +4.7k |
| Erste Asset Management GmbH 0.00% of their portfolio | 14.0k $106.5k | Unchanged |
| Engineers Gate Manager LP 0.00% of their portfolio | 13.4k $103.9k | Reduced -2.0k |
| Squarepoint Ops LLC 0.00% of their portfolio | 13.3k $102.6k | Added +1.4k |
| Virtus Investment Advisers, LLC 0.03% of their portfolio | 13.1k $101.3k | Added +2.3k |
| PNC Financial Services Group, Inc. 0.00% of their portfolio | 13.1k $101.2k | Unchanged |
| Vanguard Personalized Indexing Management, LLC 0.00% of their portfolio | 13.0k $100.3k | New |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 12.7k $99.0k | Reduced -8.0k |
| Graham Capital Management, L.P. 0.00% of their portfolio | 12.4k $95.8k | Reduced -727 |
| TOCQUEVILLE ASSET MANAGEMENT L.P. 0.00% of their portfolio | 12.3k $95.2k | Reduced -10.6k |
| XTX Topco Ltd 0.00% of their portfolio | 11.6k $90.2k | New |
| Crossmark Global Holdings, Inc. 0.00% of their portfolio | 11.4k $88.2k | Added +1 |
| UBS Group AG 0.00% of their portfolio | 11.4k $88.0k | Reduced -22.0k |
| FNY Investment Advisers, LLC 0.03% of their portfolio | 10.5k $81.0k | New |
| COMMONWEALTH OF PENNSYLVANIA PUBLIC SCHOOL EMPLS RETRMT SYS 0.00% of their portfolio | 10.1k $78.3k | New |
| China Universal Asset Management Co., Ltd. 0.01% of their portfolio | 8.1k $62.7k | Reduced -762 |
| ASSETMARK, INC 0.00% of their portfolio | 3.6k $28.1k | Added +1.6k |
| RHUMBLINE ADVISERS 0.00% of their portfolio | 3.3k $25.3k | Added +270 |
| CITIGROUP INC 0.00% of their portfolio | 2.6k $20.1k | Added +1.7k |
| BARCLAYS PLC 0.00% of their portfolio | 2.3k $17.6k | Reduced -1.2k |
| GAMMA Investing LLC 0.00% of their portfolio | 2.1k $16.4k | Added +628 |
| NATIXIS 0.00% of their portfolio | 1.9k $14.6k | Unchanged |
| Mirae Asset Global Investments Co., Ltd. 0.00% of their portfolio | 1.8k $13.8k | Added +82 |
| Tower Research Capital LLC (TRC) 0.00% of their portfolio | 1.7k $12.9k | Reduced -2.5k |
| Clearstead Advisors, LLC 0.00% of their portfolio | 1.4k $10.8k | Unchanged |
| GF FUND MANAGEMENT CO. LTD. 0.00% of their portfolio | 995 $7.7k | Reduced -131 |
| BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio | 811 $6.3k | Added +281 |
| Walleye Trading LLC 0.00% of their portfolio | 630 $4.9k | New |
| Manchester Capital Management LLC 0.00% of their portfolio | 590 $4.6k | Unchanged |
| HighMark Wealth Management LLC 0.00% of their portfolio | 435 $3.4k | Unchanged |
| FMR LLC 0.00% of their portfolio | 316 $2.4k | Unchanged |
| JONES FINANCIAL COMPANIES LLLP 0.00% of their portfolio | 250 $1.9k | Unchanged |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 200 $1.5k | Unchanged |
| Winch Advisory Services, LLC 0.00% of their portfolio | 172 $1.3k | Unchanged |
| TOTH FINANCIAL ADVISORY CORP 0.00% of their portfolio | 150 $1.2k | Unchanged |
| Daiwa Securities Group Inc. 0.00% of their portfolio | 103 $1.0k | Unchanged |
| PRINCIPAL SECURITIES, INC. 0.00% of their portfolio | 18 $139 | Unchanged |
| OSAIC HOLDINGS, INC. 0.00% of their portfolio | 18 $132 | Unchanged |
| Blue Trust, Inc. 0.00% of their portfolio | 11 $85 | Unchanged |
| SBI Securities Co., Ltd. 0.00% of their portfolio | 7 $54 | Added +1 |
| EverSource Wealth Advisors, LLC 0.00% of their portfolio | 6 $46 | New |
| Rockefeller Capital Management L.P. 0.00% of their portfolio | 5 $39 | New |
| Caitlin John, LLC 0.00% of their portfolio | 2 $15 | New |