Bicycle Therapeutics (NASDAQ:BCYC) Shares Down 5.8% – Here’s Why

Bicycle Therapeutics plc (NASDAQ:BCYC)’s stock price was down 5.8% during trading on Wednesday . The company traded as low as $24.70 and last traded at $24.70. Approximately 156,082 shares were traded during trading, a decline of 55% from the average daily volume of 350,107 shares. The stock had previously closed at $26.21.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on BCYC shares. Oppenheimer restated an “outperform” rating and set a $48.00 target price on shares of Bicycle Therapeutics in a research report on Wednesday, August 7th. Royal Bank of Canada started coverage on Bicycle Therapeutics in a research report on Friday, September 6th. They set an “outperform” rating and a $35.00 target price on the stock. Needham & Company LLC restated a “buy” rating and set a $38.00 target price on shares of Bicycle Therapeutics in a research report on Thursday. Cantor Fitzgerald restated an “overweight” rating on shares of Bicycle Therapeutics in a research report on Monday, September 9th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $32.00 price objective on shares of Bicycle Therapeutics in a report on Monday, September 16th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $44.56.

Bicycle Therapeutics Trading Down 0.2 %

The company has a current ratio of 14.77, a quick ratio of 14.77 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $1.06 billion, a price-to-earnings ratio of -5.57 and a beta of 0.89. The company has a fifty day moving average of $24.02 and a 200-day moving average of $23.05.

Bicycle Therapeutics (NASDAQ:BCYC) last released its earnings results on Tuesday, August 6th. The company reported ($0.77) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.10) by $0.33. Bicycle Therapeutics had a negative net margin of 417.88% and a negative return on equity of 32.80%. The business had revenue of $9.36 million for the quarter, compared to analyst estimates of $6.13 million. The firm’s revenue for the quarter was down 17.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Bicycle Therapeutics plc will post -3.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Bicycle Therapeutics news, CEO Kevin Lee sold 3,212 shares of the firm’s stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $22.26, for a total value of $71,499.12. Following the transaction, the chief executive officer now directly owns 380,864 shares of the company’s stock, valued at $8,478,032.64. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold 4,584 shares of company stock valued at $102,040 in the last ninety days. 8.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Bicycle Therapeutics

Institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC raised its position in shares of Bicycle Therapeutics by 105.1% during the 3rd quarter. GAMMA Investing LLC now owns 2,026 shares of the company’s stock valued at $46,000 after buying an additional 1,038 shares during the period. China Universal Asset Management Co. Ltd. raised its position in shares of Bicycle Therapeutics by 69.1% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 7,138 shares of the company’s stock valued at $162,000 after buying an additional 2,918 shares during the period. PNC Financial Services Group Inc. purchased a new stake in shares of Bicycle Therapeutics during the 4th quarter valued at approximately $137,000. PDS Planning Inc purchased a new stake in shares of Bicycle Therapeutics during the 1st quarter valued at approximately $210,000. Finally, XTX Topco Ltd purchased a new stake in shares of Bicycle Therapeutics during the 2nd quarter valued at approximately $206,000. Hedge funds and other institutional investors own 86.15% of the company’s stock.

About Bicycle Therapeutics

Bicycle Therapeutics plc, a clinical-stage biopharmaceutical company, develops a class of medicines for diseases that are underserved by existing therapeutics in the United States and the United Kingdom. Its product pipeline comprising BT8009, a bicycle toxin conjugate (BTC) which is in phase I/II/III clinical trial for the treatment of high nectin-4 expressing tumors; BT5528, a BTC which is in phase I/II clinical trial for the treatment of Ephrin type A receptor 2 expressing tumor; BT7480, a Bicycle TICA molecule which is in phase I/II targeting Nectin-4 and agonizing CD137; and BT7455, a Bicycle TICA molecule targeting Ephrin type A receptor 2 and CD137 and is in preclinical trial.