Insider Selling: Bicycle Therapeutics plc (NASDAQ:BCYC) CTO Sells $46,313.83 in Stock

Bicycle Therapeutics plc (NASDAQ:BCYC) CTO Michael Skynner sold 3,287 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $14.09, for a total transaction of $46,313.83. Following the transaction, the chief technology officer now owns 124,658 shares in the company, valued at approximately $1,756,431.22. This trade represents a 2.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Bicycle Therapeutics Trading Down 6.4 %

Shares of BCYC stock opened at $14.17 on Thursday. The company has a market cap of $978.38 million, a price-to-earnings ratio of -4.31 and a beta of 0.92. The stock has a 50 day simple moving average of $19.09 and a 200-day simple moving average of $21.82. Bicycle Therapeutics plc has a 12-month low of $12.17 and a 12-month high of $28.67.

Bicycle Therapeutics (NASDAQ:BCYC) last announced its quarterly earnings data on Thursday, October 31st. The company reported ($0.74) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.78) by $0.04. The firm had revenue of $2.68 million for the quarter, compared to analyst estimates of $6.82 million. Bicycle Therapeutics had a negative return on equity of 27.35% and a negative net margin of 450.64%. Bicycle Therapeutics’s quarterly revenue was down 50.0% on a year-over-year basis. During the same quarter in the prior year, the company posted ($1.26) earnings per share. On average, equities analysts forecast that Bicycle Therapeutics plc will post -3.05 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Needham & Company LLC reiterated a “buy” rating and set a $38.00 price target on shares of Bicycle Therapeutics in a research note on Thursday, October 31st. Stephens initiated coverage on shares of Bicycle Therapeutics in a research note on Friday, November 8th. They set an “equal weight” rating and a $25.00 target price for the company. JMP Securities dropped their price target on 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. Royal Bank of Canada reaffirmed an “outperform” rating and set a $35.00 price objective on shares of Bicycle Therapeutics in a research report on Friday, November 1st. Finally, HC Wainwright dropped their target price on Bicycle Therapeutics from $55.00 to $33.00 and set a “buy” rating on the stock in a report on Monday, December 16th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $35.25.

Institutional Trading of Bicycle Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Assetmark Inc. purchased a new stake in Bicycle Therapeutics during the third quarter worth about $34,000. GAMMA Investing LLC lifted 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 acquiring an additional 1,038 shares during the period. China Universal Asset Management Co. Ltd. boosted its stake 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 worth $162,000 after acquiring an additional 2,918 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Bicycle Therapeutics by 26.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 8,424 shares of the company’s stock worth $191,000 after acquiring an additional 1,782 shares during the period. Finally, XTX Topco Ltd purchased a new position in Bicycle Therapeutics in the 2nd quarter valued at approximately $206,000. Institutional investors and hedge funds own 86.15% of the company’s stock.

Bicycle Therapeutics Company Profile

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.