What is the 13F Pro Quality Score for BCYC?

13F Pro ranks BICYCLE THERAPEUTICS PLC (BCYC) on the 13F Pro Quality Score, a 0–100 composite of 32 fundamental signals including return on invested capital, free cash flow consistency, balance-sheet strength, earnings quality, growth durability, and valuation discipline. The score refreshes after each 10-K and 10-Q filing on SEC EDGAR. View BCYC's current score at https://13fpro.ai/research/BCYC (free sign-up required for the full ranking).

Which hedge funds own the most BCYC stock?

Based on the most recent Form 13F-HR filings on SEC EDGAR, the largest reported institutional holders of BCYC include BAKER BROS. ADVISORS, FCPM III SERVICES B.V., ARMISTICE CAPITAL,. Holdings are reported quarterly within 45 days of quarter-end and updated on https://13fpro.ai/research/BCYC as soon as new 13F filings post.

Where does 13F Pro source BCYC data?

All BICYCLE THERAPEUTICS PLC fundamentals and ownership data come directly from SEC EDGAR. BICYCLE THERAPEUTICS PLC files with the SEC under CIK 1761612. 13F Pro ingests XBRL financial facts from 10-K and 10-Q filings, Form 13F-HR institutional holdings, and Form 4 insider transactions, with no third-party rewrites or estimates.

What sector is BCYC in?

BICYCLE THERAPEUTICS PLC (BCYC) is classified in the Healthcare sector. 13F Pro publishes sector-level fund flow analysis and quality leaders at https://13fpro.ai/research/sector/healthcare.

How often is BCYC research updated on 13F Pro?

BCYC's fundamentals refresh within hours of each new 10-K or 10-Q filing on SEC EDGAR. Institutional ownership updates after each quarterly 13F filing window. Insider transactions update after each Form 4 filing. The 13F Pro Quality Score recalculates after every fundamentals refresh.

BICYCLE THERAPEUTICS PLC(BCYC)Stock Analysis

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13F Pro Quality Score

Not in ranked universe

Pending next ranking run

This company passes all size and coverage filters but hasn't been included in the latest quarterly ranking run. Rankings refresh on Jan 1, Apr 1, Jul 1, Oct 1.

Financial data, filings, and institutional holdings below are still tracked in full — only the proprietary quality composite is unavailable for this name.

BCYC Stock Analysis & AI Quality Score

AI stock analysis and institutional research for BICYCLE THERAPEUTICS PLC (BCYC), a Healthcare sector company. BCYC is not currently included in 13F Pro's AI-ranked quality universe — this company passes all size and coverage filters but hasn't been included in the latest quarterly ranking run. rankings refresh on jan 1, apr 1, jul 1, oct 1. Based on the latest XBRL financial filings (Q1 2026), BICYCLE THERAPEUTICS PLC reports quarterly revenue of $887.0K, net income of $-60.8M, free cash flow of $-66.6M. Top institutional holders of BCYC by reported 13-F value include BAKER BROS. ADVISORS, FCPM III SERVICES B.V., ARMISTICE CAPITAL,, based on the most recent SEC filings. BCYC trades on the Nasdaq exchange and files with the SEC under CIK 1761612. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate BCYC daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for BICYCLE THERAPEUTICS PLC directly from SEC EDGAR.

Revenue

Q1 2026

$887.0K

Net Income

Q1 2026

$-60.8M

Free Cash Flow

Q1 2026

$-66.6M

Revenue & Net Income

Earnings Per Share

Key Financials Over Time

Export Financial Table · Pro+

Revenue

+86.5% YoY

$27.0MFY 2023

FY19 $13.8MFY20 $10.4MFY22 $14.5MFY23 $27.0M

Net Income

-60.3% YoY

$-180.7MFY 2023

FY19 $-30.6MFY20 $-51.0MFY22 $-112.7MFY23 $-180.7M

Operating Income

-62.8% YoY

$-189.9MFY 2023

FY19 $-26.3MFY20 $-52.0MFY22 $-116.7MFY23 $-189.9M

EPS (Diluted)

-33.7% YoY

$-5.08FY 2023

FY19 $-2.77FY20 $-2.66FY22 $-3.80FY23 $-5.08

Total Assets

+45.0% YoY

$595.3MFY 2023

FY19 $110.2MFY20 $161.2MFY22 $410.6MFY23 $595.3M

Total Debt

+1.3% YoY

$30.7MFY 2023

FY19 —FY20 $14.5MFY22 $30.3MFY23 $30.7M

Op. Cash Flow

+29.6% YoY

$-60.6MFY 2023

FY19 $-28.6MFY20 $-17.8MFY22 $-86.1MFY23 $-60.6M

Metric	FY 2023	FY 2022	FY 2020	FY 2019	FY 2018	FY 2017
Revenue	$27.0M +86.5%	$14.5M +39.2%	$10.4M -24.7%	$13.8M +93.4%	$7.1M +246.4%	$2.1M
Net Income	$-180.7M -60.3%	$-112.7M -121.0%	$-51.0M -66.7%	$-30.6M -40.1%	$-21.8M -34.4%	$-16.3M
Operating Income	$-189.9M -62.8%	$-116.7M -124.5%	$-52.0M -97.6%	$-26.3M -20.9%	$-21.7M -34.1%	$-16.2M
EPS (Diluted)	$-5.08 -33.7%	$-3.80 -42.9%	$-2.66 +4.0%	$-2.77	—	—
Total Assets	$595.3M +45.0%	$410.6M +154.8%	$161.2M +46.2%	$110.2M +35.0%	$81.6M	—
Total Debt	$30.7M +1.3%	$30.3M +109.0%	$14.5M	—	—	—
Operating Cash Flow	$-60.6M +29.6%	$-86.1M -384.1%	$-17.8M +37.8%	$-28.6M -9.7%	$-26.1M -1743.0%	$-1.4M

AI Insight: BCYC Financial Trends

A $48M revenue spike in Q4 2025 collapsed to $1M in Q1 2026, masking sustained cash burn and equity erosion now below $554M.

• Revenue is highly lumpy: ranged $1M–$48M over eight quarters, signaling milestone/collaboration payments rather than recurring product revenue.

• Operating losses deepened from -$47M in Q2 2024 to -$87M in Q2 2025, with Q1 2026 at -$65M still near peak-loss territory.

• Equity has declined every quarter from $874M in Q2 2024 to $554M in Q1 2026 — a $320M erosion over eight quarters.

• Total debt fell from $53M in Q2 2024 to $31M by Q4 2024 and is unreported thereafter, reducing visible leverage.

⚠ Q1 2026 operating cash outflow of -$66M after a lighter -$19M in Q4 2025 signals accelerating burn; runway trajectory warrants close scrutiny.

⚠ With equity at $554M and quarterly cash burn averaging ~$50M, the next capital raise or partnership milestone is a critical inflection.

⚠ Q4 2025's $48M revenue surge — whether a milestone or deal payment — has not recurred; sustainability of any revenue is unproven.

AI Insight: BCYC Ratio Trends

Return metrics have deteriorated sharply since Q2 2024, with ROIC worsening from -20.1% to -47.2% in Q1 2026 — no clear inflection yet.

• ROIC has deteriorated steadily from -20.1% in Q2 2024 to -47.2% in Q1 2026, reflecting deepening capital inefficiency.

• ROE swung from -18.2% in Q2 2024 to -47.2% in Q2 2025, though Q4 2025 showed a temporary improvement to -13.2%.

• Q4 2025 operating margin of -51.5% and NPM of -42.0% are the only periods with margin data available — no trend comparison possible.

• Debt-to-equity ratio was minimal at 0.06 in Q2 2024, declining to 0.04 by Q4 2024, suggesting low financial leverage.

⚠ ROIC deteriorated 27pp from Q2 2024 to Q1 2026 with no sustained recovery quarter — burn trajectory warrants close monitoring.

⚠ Q4 2025 ROE/ROA improved sharply vs. adjacent quarters; assess whether a one-off item drove this or reflects genuine operational progress.

⚠ Persistent gaps in OpMargin and NPM data limit visibility; full income statement disclosure would clarify true loss trajectory.

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Available Research

13F Pro tracks comprehensive data for BICYCLE THERAPEUTICS PLC including:

SEC EDGAR filings (10-K, 10-Q, 8-K)

XBRL financial facts (revenue, EPS, margins)

Insider transactions (Form 4)

Institutional 13F holdings

Quality rankings (32 signals)

AI analyst debates & daily meetings

Historical financial trends

Peer comparison & sector analysis

Top Institutional Holders of BCYC

BAKER BROS. ADVISORS LP
$50.5M10,885,357 sh
FCPM III SERVICES B.V.
$16.1M3,468,430 sh
ARMISTICE CAPITAL, LLC
$15.8M3,398,000 sh
Long Focus Capital Management, LLC
$15.4M3,310,687 sh
Siren, L.L.C.
$7.2M1,560,882 sh
GSK plc
$7.1M1,529,561 sh
PRINCIPAL FINANCIAL GROUP INC
$5.5M1,174,625 sh
RENAISSANCE TECHNOLOGIES LLC
$4.5M979,300 sh
MORGAN STANLEY
$2.9M618,327 sh
SCHRODER INVESTMENT MANAGEMENT GROUP
$2.7M615,833 sh

Fund	Value	Shares
BAKER BROS. ADVISORS LP	$50.5M	10,885,357
FCPM III SERVICES B.V.	$16.1M	3,468,430
ARMISTICE CAPITAL, LLC	$15.8M	3,398,000
Long Focus Capital Management, LLC	$15.4M	3,310,687
Siren, L.L.C.	$7.2M	1,560,882
GSK plc	$7.1M	1,529,561
PRINCIPAL FINANCIAL GROUP INC	$5.5M	1,174,625
RENAISSANCE TECHNOLOGIES LLC	$4.5M	979,300
MORGAN STANLEY	$2.9M	618,327
SCHRODER INVESTMENT MANAGEMENT GROUP	$2.7M	615,833

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Is BCYC a good stock to buy?

13F Pro's AI-powered analysis of BICYCLE THERAPEUTICS PLC (BCYC) draws on SEC EDGAR-sourced fundamentals, institutional 13F holdings, and insider Form 4 transactions in the Healthcare sector (listed on Nasdaq). The 32-signal AI Quality Score, current rank, and full bull/bear verdict for BCYC are available on the BCYC stock profile dashboard — with the same data, AI insights, ratios, and institutional activity refreshed after every 10-K, 10-Q, 13F, and Form 4 filing.

Which hedge funds own BCYC?

Institutional investors are required to disclose their holdings quarterly via SEC Form 13F. 13F Pro aggregates these filings to show which hedge funds, mutual funds, and asset managers are buying or selling BCYC. Combined with insider transaction data from Form 4 filings and AI-powered analysis from 10 specialized research agents, 13F Pro provides a comprehensive view of BICYCLE THERAPEUTICS PLC's investment landscape.