Bicycle Therapeutics (NASDAQ:BCYC) Trading Down 5.2% – Here’s Why

Bicycle Therapeutics plc (NASDAQ:BCYC)’s stock price fell 5.2% on Wednesday . The stock traded as low as $13.06 and last traded at $12.86. 22,224 shares changed hands during mid-day trading, a decline of 93% from the average session volume of 324,163 shares. The stock had previously closed at $13.56.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Stephens reiterated an “equal weight” rating and set a $15.00 price target on shares of Bicycle Therapeutics in a research report on Wednesday. HC Wainwright restated a “buy” rating and set a $33.00 price target on shares of Bicycle Therapeutics in a research note on Monday, January 13th. JMP Securities dropped their price objective on Bicycle Therapeutics from $32.00 to $26.00 and set a “market outperform” rating for the company in a research note on Wednesday, December 18th. B. Riley decreased their target price on Bicycle Therapeutics from $28.00 to $17.00 and set a “neutral” rating on the stock in a research note on Friday, December 13th. Finally, Needham & Company LLC reissued a “buy” rating and set a $32.00 target price on shares of Bicycle Therapeutics in a research note on Monday, January 13th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $33.25.

Bicycle Therapeutics Stock Down 3.8 %

The company has a market capitalization of $901.10 million, a PE ratio of -3.96 and a beta of 0.92. The stock’s fifty day simple moving average is $17.32 and its 200-day simple moving average is $21.44.

Bicycle Therapeutics (NASDAQ:BCYC) last issued its quarterly earnings data on Thursday, October 31st. The company reported ($0.74) EPS for the quarter, beating analysts’ consensus estimates of ($0.78) by $0.04. Bicycle Therapeutics had a negative net margin of 450.64% and a negative return on equity of 27.35%. The firm had revenue of $2.68 million for the quarter, compared to analysts’ expectations of $6.82 million. During the same period in the prior year, the company earned ($1.26) EPS. The firm’s revenue was down 50.0% on a year-over-year basis. Analysts expect that Bicycle Therapeutics plc will post -3.05 EPS for the current year.

Insiders Place Their Bets

In other Bicycle Therapeutics news, CAO Travis Alvin Thompson sold 6,256 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $25.11, for a total value of $157,088.16. Following the sale, the chief accounting officer now directly owns 19,241 shares of the company’s stock, valued at approximately $483,141.51. This trade represents a 24.54 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Alistair Milnes sold 4,578 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $14.09, for a total transaction of $64,504.02. Following the transaction, the chief operating officer now owns 100,724 shares in the company, valued at approximately $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 have sold 33,933 shares of company stock valued at $549,501 in the last ninety days. Insiders own 8.50% of the company’s stock.

Hedge Funds Weigh In On Bicycle Therapeutics

A number of large investors have recently modified their holdings of BCYC. Assetmark Inc. acquired a new stake in Bicycle Therapeutics in the 3rd quarter valued at $34,000. GAMMA Investing LLC grew its stake in shares of Bicycle Therapeutics by 105.1% in the third 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 in the last quarter. Avior Wealth Management LLC purchased a new stake in shares of Bicycle Therapeutics during the 4th quarter valued at about $57,000. China Universal Asset Management Co. Ltd. boosted its holdings in Bicycle Therapeutics by 69.1% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 7,138 shares of the company’s stock worth $162,000 after acquiring an additional 2,918 shares during the period. Finally, JPMorgan Chase & Co. grew its position in 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 acquiring an additional 1,782 shares in the last quarter. 86.15% of the stock is currently 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.