Bicycle Therapeutics (NASDAQ:BCYC) Reaches New 52-Week Low – Here’s What Happened

Bicycle Therapeutics plc (NASDAQ:BCYC)’s stock price reached a new 52-week low during trading on Monday . The company traded as low as $9.41 and last traded at $9.89, with a volume of 629111 shares trading hands. The stock had previously closed at $9.63.

Analysts Set New Price Targets

A number of research firms have commented on BCYC. Needham & Company LLC restated a “buy” rating and issued a $30.00 price target on shares of Bicycle Therapeutics in a research report on Tuesday, March 11th. HC Wainwright restated a “buy” rating and issued a $33.00 price target on shares of Bicycle Therapeutics in a research report on Wednesday, February 26th. JMP Securities reduced their price target on shares of Bicycle Therapeutics from $32.00 to $26.00 and set a “market outperform” rating on the stock in a research report on Wednesday, December 18th. B. Riley reduced 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. Finally, Stephens reaffirmed an “equal weight” rating and issued a $15.00 target price on shares of Bicycle Therapeutics in a research note 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. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $29.14.

Bicycle Therapeutics Price Performance

The company has a market capitalization of $660.77 million, a P/E ratio of -2.91 and a beta of 1.12. The stock’s 50 day simple moving average is $12.12 and its two-hundred day simple moving average is $18.24.

Bicycle Therapeutics (NASDAQ:BCYC) last posted its quarterly earnings results on Tuesday, February 25th. The company reported ($0.75) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.85) by $0.10. The business had revenue of $3.70 million during the quarter, compared to the consensus estimate of $5.47 million. Bicycle Therapeutics had a negative net margin of 450.64% and a negative return on equity of 27.35%. Bicycle Therapeutics’s revenue for the quarter was down 30.2% compared to the same quarter last year. During the same period in the previous year, the firm posted ($1.16) earnings per share. As a group, equities research analysts expect that Bicycle Therapeutics plc will post -3.06 earnings per share for the current year.

Insider Buying and Selling

In other Bicycle Therapeutics news, CEO Kevin Lee sold 9,038 shares of the company’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 value of $127,345.42. Following the completion of the sale, the chief executive officer now owns 495,026 shares of the company’s stock, valued at approximately $6,974,916.34. This represents a 1.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Travis Alvin Thompson sold 2,686 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $15.00, for a total transaction of $40,290.00. Following the completion of the sale, the chief accounting officer now directly owns 32,146 shares of the company’s stock, valued at $482,190. The trade was a 7.71 % decrease in their position. 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 Investors Weigh In On Bicycle Therapeutics

Large investors have recently bought and sold shares of the company. Assetmark Inc. bought a new stake in Bicycle Therapeutics in the third quarter valued at approximately $34,000. Barclays PLC boosted its holdings in shares of Bicycle Therapeutics by 878.3% in the fourth quarter. Barclays PLC now owns 2,612 shares of the company’s stock valued at $37,000 after buying an additional 2,345 shares during the period. Avior Wealth Management LLC acquired a new position in shares of Bicycle Therapeutics in the fourth quarter valued at approximately $57,000. China Universal Asset Management Co. Ltd. boosted its holdings in shares of Bicycle Therapeutics by 30.7% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 9,329 shares of the company’s stock valued at $131,000 after buying an additional 2,191 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Bicycle Therapeutics by 26.8% in the third quarter. JPMorgan Chase & Co. now owns 8,424 shares of the company’s stock valued at $191,000 after buying an additional 1,782 shares during the period. 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.