Bicycle Therapeutics (NASDAQ:BCYC) Hits New 12-Month Low – Here’s What Happened

Bicycle Therapeutics plc (NASDAQ:BCYC) hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $9.89 and last traded at $10.13, with a volume of 3986 shares trading hands. The stock had previously closed at $10.23.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. B. Riley lowered their price target on shares of Bicycle Therapeutics from $28.00 to $17.00 and set a “neutral” rating on the stock in a research report on Friday, December 13th. JMP Securities reduced their price objective on shares of Bicycle Therapeutics from $32.00 to $26.00 and set a “market outperform” rating on the stock in a report on Wednesday, December 18th. HC Wainwright reaffirmed a “buy” rating and issued a $33.00 target price on shares of Bicycle Therapeutics in a research report on Wednesday, February 26th. Needham & Company LLC reissued a “buy” rating and issued a $30.00 price target on shares of Bicycle Therapeutics in a research note on Tuesday. Finally, Stephens reaffirmed an “equal weight” rating and set a $15.00 price objective on shares of Bicycle Therapeutics in a research report on Wednesday, January 22nd. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $29.14.

Bicycle Therapeutics Trading Up 4.2 %

The company has a fifty day simple moving average of $12.68 and a two-hundred day simple moving average of $18.75. The company has a market cap of $704.27 million, a PE ratio of -3.10 and a beta of 1.12.

Bicycle Therapeutics (NASDAQ:BCYC) last released its quarterly earnings data on Tuesday, February 25th. The company reported ($0.75) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.85) by $0.10. The business had revenue of $3.70 million during the quarter, compared to analysts’ expectations of $5.47 million. Bicycle Therapeutics had a negative net margin of 450.64% and a negative return on equity of 27.35%. The company’s revenue for the quarter was down 30.2% on a year-over-year basis. During the same period in the previous year, the company earned ($1.16) EPS. On average, research analysts anticipate that Bicycle Therapeutics plc will post -3.06 EPS for the current fiscal year.

Insider Activity at Bicycle Therapeutics

In other news, insider Santiago Arroyo sold 4,943 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $14.09, for a total transaction of $69,646.87. Following the transaction, the insider now directly owns 69,057 shares in the company, valued at approximately $973,013.13. This trade represents a 6.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Alistair Milnes sold 4,578 shares of Bicycle Therapeutics stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $14.09, for a total transaction of $64,504.02. Following the completion of the transaction, the chief operating officer now directly owns 100,724 shares in the company, valued at $1,419,201.16. The trade was a 4.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 27,677 shares of company stock valued at $392,413 over the last ninety days. Insiders own 8.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of BCYC. Point72 Asset Management L.P. boosted its stake in shares of Bicycle Therapeutics by 406.2% during the fourth quarter. Point72 Asset Management L.P. now owns 4,554,900 shares of the company’s stock worth $63,769,000 after buying an additional 3,655,101 shares during the period. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Bicycle Therapeutics by 43.3% during the 4th quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 80,236 shares of the company’s stock worth $1,123,000 after acquiring an additional 24,260 shares during the period. Millennium Management LLC acquired a new stake in Bicycle Therapeutics during the 4th quarter worth approximately $2,475,000. Fcpm Iii Services B.V. grew its position in Bicycle Therapeutics by 47.5% in the 4th quarter. Fcpm Iii Services B.V. now owns 3,452,330 shares of the company’s stock valued at $48,333,000 after buying an additional 1,112,369 shares during the last quarter. Finally, Caption Management LLC purchased a new position in Bicycle Therapeutics during the fourth quarter worth about $2,283,000. 86.15% of the stock is owned by hedge funds and other institutional investors.

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.