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. Holder counts are more reliable. Implied quarter-end price ≈ $4.63. Options: 4 managers hold calls ($347.1k notional), 5 hold puts ($2.5m).
Trends to Q1 2026
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 |
| Q4 2025 | 109 |
| Q1 2026 | 98 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q2 2024 | 60 | 39 |
| Q3 2024 | 50 | 51 |
| Q4 2024 | 40 | 59 |
| Q1 2025 | 42 | 46 |
| Q2 2025 | 67 | 34 |
| Q3 2025 | 48 | 44 |
| Q4 2025 | 53 | 40 |
| Q1 2026 | 58 | 42 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q2 2025 | $407.0k | $125.5k | 0.31 |
| Q3 2025 | $402.0k | $39.3k | 0.10 |
| Q4 2025 | $2.3m | $946.6k | 0.41 |
| Q1 2026 | $347.1k | $2.5m | 7.15 |
Biggest buyers
| Long Focus Capital Management, LLC | Added | +1.7m |
| DIADEMA PARTNERS LP | New | +476.4k |
| RENAISSANCE TECHNOLOGIES LLC | Added | +412.7k |
| MARSHALL WACE, LLP | Added | +338.5k |
| Qube Research & Technologies Ltd | New | +308.6k |
| ACADIAN ASSET MANAGEMENT LLC | Added | +296.8k |
| ARMISTICE CAPITAL, LLC | Added | +162.0k |
| JANE STREET GROUP, LLC | Added | +154.9k |
| MORGAN STANLEY | Added | +153.1k |
| Peapod Lane Capital LLC | New | +121.1k |
Biggest sellers
| WESTFIELD CAPITAL MANAGEMENT CO LP | Sold out | -3.0m |
| Candriam S.C.A. | Sold out | -1.2m |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. | Sold out | -568.2k |
| Siren, L.L.C. | Reduced | -451.9k |
| Jefferies Financial Group Inc. | Sold out | -297.2k |
| TWO SIGMA ADVISERS, LP | Sold out | -146.1k |
| PRICE T ROWE ASSOCIATES INC /MD/ | Reduced | -143.5k |
| FIDEURAM - INTESA SANPAOLO PRIVATE BANKING S.P.A. | Reduced | -134.7k |
| Walleye Capital LLC | Sold out | -111.7k |
| BANK OF AMERICA CORP /DE/ | Sold out | -96.4k |
Biggest calls
| SIMPLEX TRADING, LLC | Added | $137.3k29.6k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | New | $75.6k16.3k shares |
| GROUP ONE TRADING LLC | New | $67.7k14.6k shares |
| CITADEL ADVISORS LLC | Reduced | $66.4k14.3k shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $1.1m242.6k shares |
| SIMPLEX TRADING, LLC | Added | $853.8k184.0k shares |
| JANE STREET GROUP, LLC | Added | $393.9k84.9k shares |
| CITADEL ADVISORS LLC | Added | $89.6k19.3k shares |
| GROUP ONE TRADING LLC | Added | $18.6k4.0k 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 Q1 2026
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 |
|---|---|---|---|---|---|
| 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 | — |
| Q4 2025 | 0 | — | 7 | $84.7k | $5.0k |
| Q1 2026 | 0 | — | 6 | $328.3k | $50.5k |
| Date | Insider | Trade | Value |
|---|---|---|---|
| 2026-01-05 | Lee Kevin CHIEF EXECUTIVE OFFICER, director | Sold | $71.0k11.0k shares |
| 2026-01-05 | Young Alethia Chief Financial Officer | Sold plan | $28.1k4.3k shares |
| 2026-01-05 | Milnes Alistair CHIEF OPERATING OFFICER | Sold | $22.1k3.4k shares |
| 2026-01-05 | Skynner Michael CHIEF TECHNOLOGY OFFICER | Sold | $21.1k3.3k shares |
| 2026-01-05 | Hannay Michael Charles Ferguson CHIEF PROD & SUPPLY CHAIN OFF | Sold | $15.3k2.4k shares |
| 2026-01-05 | Thompson Travis Alvin CHIEF ACCOUNTING OFFICER | Sold | $7.2k1.1k shares |
| 2026-01-02 | Lee Kevin CHIEF EXECUTIVE OFFICER, director | Sold | $70.2k10.3k shares |
| 2026-01-02 | Young Alethia Chief Financial Officer | Sold plan | $22.4k3.3k shares |
| 2026-01-02 | Milnes Alistair CHIEF OPERATING OFFICER | Sold | $22.1k3.2k shares |
| 2026-01-02 | Skynner Michael CHIEF TECHNOLOGY OFFICER | Sold | $20.7k3.0k shares |
| 2026-01-02 | Hannay Michael Charles Ferguson CHIEF PROD & SUPPLY CHAIN OFF | Sold | $19.2k2.8k shares |
| 2026-01-02 | Thompson Travis Alvin CHIEF ACCOUNTING OFFICER | Sold | $9.0k1.3k 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, Q1 2026
| Manager | Shares | Change |
|---|---|---|
| BAKER BROS. ADVISORS LP 0.29% of their portfolio | 10.9m $50.5m | Unchanged |
| FCPM III SERVICES B.V. 2.23% of their portfolio | 3.5m $16.1m | Unchanged |
| ARMISTICE CAPITAL, LLC 0.52% of their portfolio | 3.4m $15.8m | Added +162.0k |
| Long Focus Capital Management, LLC 0.67% of their portfolio | 3.3m $15.4m | Added +1.7m |
| ACADIAN ASSET MANAGEMENT LLC 0.01% of their portfolio | 2.0m $9.1m | Added +296.8k |
| Siren, L.L.C. 0.20% of their portfolio | 1.6m $7.2m | Reduced -451.9k |
| GSK plc 1.18% of their portfolio | 1.5m $7.1m | Unchanged |
| PRINCIPAL FINANCIAL GROUP INC 0.00% of their portfolio | 1.2m $5.5m | Added +26.4k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 1.0m $4.8m | Reduced -143.5k |
| RENAISSANCE TECHNOLOGIES LLC 0.01% of their portfolio | 979.3k $4.5m | Added +412.7k |
| MORGAN STANLEY 0.00% of their portfolio | 618.3k $2.9m | Added +153.1k |
| SCHRODER INVESTMENT MANAGEMENT GROUP 0.00% of their portfolio | 615.8k $2.7m | Added +31.1k |
| DIADEMA PARTNERS LP 0.91% of their portfolio | 476.4k $2.2m | New |
| Birchview Capital, LP 1.22% of their portfolio | 463.6k $2.2m | Added +899 |
| SILVERCREST ASSET MANAGEMENT GROUP LLC 0.01% of their portfolio | 428.7k $2.0m | Reduced -48.3k |
| MARSHALL WACE, LLP 0.00% of their portfolio | 377.3k $1.8m | Added +338.5k |
| CITADEL ADVISORS LLC 0.00% of their portfolio | 377.1k $1.7m | Added +105.7k |
| Qube Research & Technologies Ltd 0.00% of their portfolio | 308.6k $1.4m | New |
| MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio | 284.0k $1.3m | Reduced -42.6k |
| BlackRock, Inc. 0.00% of their portfolio | 279.0k $1.3m | Reduced -53.9k |
| MOORE CAPITAL MANAGEMENT, LP 0.05% of their portfolio | 275.0k $1.3m | Unchanged |
| Rangeley Capital, LLC 1.16% of their portfolio | 232.3k $1.1m | Added +100.3k |
| JANE STREET GROUP, LLC 0.00% of their portfolio | 218.1k $1.0m | Added +154.9k |
| Palo Alto Investors LP 0.14% of their portfolio | 201.9k $936.8k | Reduced -19.2k |
| Eversept Partners, LP 0.06% of their portfolio | 190.7k $884.9k | Added +11.8k |
| PINNACLE ASSOCIATES LTD 0.01% of their portfolio | 185.4k $860.3k | Reduced -5.1k |
| PLATINUM INVESTMENT MANAGEMENT LTD 0.22% of their portfolio | 184.6k $856.6k | Unchanged |
| FLAX POND CAPITAL, LLC 0.66% of their portfolio | 176.1k $817.3k | Added +2.5k |
| TWO SIGMA INVESTMENTS, LP 0.00% of their portfolio | 164.8k $764.7k | Added +32.8k |
| Point72 Asset Management, L.P. 0.00% of their portfolio | 130.4k $605.2k | Added +53.6k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.00% of their portfolio | 127.9k $593.3k | Unchanged |
| Peapod Lane Capital LLC 0.45% of their portfolio | 121.1k $550.2k | New |
| Persistent Asset Partners Ltd 0.22% of their portfolio | 120.4k $558.8k | New |
| Marex Group Ltd 0.01% of their portfolio | 115.0k $533.6k | Added +36.6k |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 110.1k $511.1k | Added +85.4k |
| XTX Topco Ltd 0.01% of their portfolio | 106.4k $493.7k | Added +58.7k |
| TD Asset Management Inc 0.00% of their portfolio | 92.0k $426.8k | Reduced -56.0k |
| ADAR1 Capital Management, LLC 0.02% of their portfolio | 71.3k $330.8k | New |
| DAFNA Capital Management LLC 0.07% of their portfolio | 64.5k $299.2k | Unchanged |
| EntryPoint Capital, LLC 0.09% of their portfolio | 63.9k $296.5k | New |
| Man Group plc 0.00% of their portfolio | 63.3k $293.7k | Added +20.4k |
| AXQ CAPITAL, LP 0.04% of their portfolio | 63.1k $292.9k | New |
| State of Tennessee, Department of Treasury 0.00% of their portfolio | 61.2k $283.8k | Unchanged |
| SEI INVESTMENTS CO 0.00% of their portfolio | 52.8k $244.9k | Added +3.7k |
| Jump Financial, LLC 0.00% of their portfolio | 52.5k $243.8k | Added +21.5k |
| HRT FINANCIAL LP 0.00% of their portfolio | 45.9k $213.0k | New |
| ALPS ADVISORS INC 0.00% of their portfolio | 40.7k $188.6k | Reduced -344 |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio | 37.9k $175.8k | Reduced -70.5k |
| Virtus Investment Advisers, LLC 0.05% of their portfolio | 36.6k $169.8k | Added +892 |
| Engineers Gate Manager LP 0.00% of their portfolio | 35.4k $164.3k | Added +11.4k |
| UBS Group AG 0.00% of their portfolio | 32.2k $149.2k | Added +6.5k |
| STATE STREET CORP 0.00% of their portfolio | 30.5k $141.6k | Reduced -39.7k |
| WOODSTOCK CORP 0.01% of their portfolio | 29.1k $135.2k | Unchanged |
| GSA CAPITAL PARTNERS LLP 0.01% of their portfolio | 26.8k $125.0k | New |
| Aquatic Capital Management LLC 0.00% of their portfolio | 26.2k $121.4k | Added +7.3k |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 25.1k $116.6k | Unchanged |
| R Squared Ltd 0.05% of their portfolio | 21.1k $97.7k | New |
| State of New Jersey Common Pension Fund D 0.00% of their portfolio | 20.1k $93.3k | Unchanged |
| Vontobel Holding Ltd. 0.00% of their portfolio | 20.0k $92.8k | Added +10.0k |
| Invesco Ltd. 0.00% of their portfolio | 15.1k $69.9k | Added +5.0k |
| PORTLAND INVESTMENT COUNSEL INC. 0.02% of their portfolio | 15.0k $69.6k | Unchanged |
| STIFEL FINANCIAL CORP 0.00% of their portfolio | 14.7k $68.1k | New |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 14.5k $67.0k | Added +3.8k |
| Forefront Analytics, LLC 0.06% of their portfolio | 14.4k $66.8k | Added +1.0k |
| 49 WEALTH MANAGEMENT, LLC 0.00% of their portfolio | 14.3k $66.4k | New |
| Federation des caisses Desjardins du Quebec 0.00% of their portfolio | 14.3k $66.5k | Unchanged |
| Erste Asset Management GmbH 0.00% of their portfolio | 14.0k $60.8k | Unchanged |
| Cerity Partners LLC 0.00% of their portfolio | 13.6k $63.0k | Added +220 |
| HORIZON KINETICS ASSET MANAGEMENT LLC 0.00% of their portfolio | 13.2k $61.2k | Reduced -604 |
| RHUMBLINE ADVISERS 0.00% of their portfolio | 12.6k $58.3k | Added +1.4k |
| Crossmark Global Holdings, Inc. 0.00% of their portfolio | 11.4k $52.9k | Added +9 |
| Pinnacle Wealth Management Advisory Group, LLC 0.00% of their portfolio | 11.0k $51.0k | Added +985 |
| TWO SIGMA SECURITIES, LLC 0.01% of their portfolio | 10.9k $50.5k | New |
| COMMONWEALTH OF PENNSYLVANIA PUBLIC SCHOOL EMPLS RETRMT SYS 0.00% of their portfolio | 10.1k $46.9k | Unchanged |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 9.9k $42.8k | Reduced -8.5k |
| Legal & General Group Plc 0.00% of their portfolio | 9.1k $39.2k | Unchanged |
| China Universal Asset Management Co., Ltd. 0.00% of their portfolio | 8.2k $38.1k | Added +682 |
| FNY Investment Advisers, LLC 0.02% of their portfolio | 7.6k $35.0k | Added +71 |
| NATIXIS 0.00% of their portfolio | 4.6k $21.2k | Unchanged |
| ASSETMARK, INC 0.00% of their portfolio | 4.2k $19.6k | Added +590 |
| Mirae Asset Global Investments Co., Ltd. 0.00% of their portfolio | 2.4k $11.2k | Added +169 |
| BARCLAYS PLC 0.00% of their portfolio | 2.4k $10.9k | Added +1.8k |
| Tower Research Capital LLC (TRC) 0.00% of their portfolio | 2.0k $9.1k | Added +298 |
| CITIGROUP INC 0.00% of their portfolio | 1.3k $6.0k | Added +4 |
| GAMMA Investing LLC 0.00% of their portfolio | 1.3k $5.8k | Reduced -129 |
| GF FUND MANAGEMENT CO. LTD. 0.00% of their portfolio | 1.0k $4.8k | Added +123 |
| BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio | 1.0k $4.7k | Reduced -100 |
| JONES FINANCIAL COMPANIES LLLP 0.00% of their portfolio | 500 $2.2k | Added +250 |
| HighMark Wealth Management LLC 0.00% of their portfolio | 435 $2.0k | Unchanged |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 200 $928 | Unchanged |
| Winch Advisory Services, LLC 0.00% of their portfolio | 172 $798 | Unchanged |
| Basecamp Wealth Advisors LLC 0.00% of their portfolio | 167 $775 | Unchanged |
| OSAIC HOLDINGS, INC. 0.00% of their portfolio | 10 $46 | New |
| FIDEURAM - INTESA SANPAOLO PRIVATE BANKING S.P.A. 0.00% of their portfolio | 9 $42 | Reduced -134.7k |
| SBI Securities Co., Ltd. 0.00% of their portfolio | 6 $28 | Unchanged |
| Rockefeller Capital Management L.P. 0.00% of their portfolio | 5 $23 | Unchanged |
| Caitlin John, LLC 0.00% of their portfolio | 2 $9 | Unchanged |
| Caitong International Asset Management Co., Ltd 0.00% of their portfolio | 1 $5 | New |