Bicycle Therapeutics (NASDAQ:BCYC) Shares Down 5.2% – What’s Next?

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

Wall Street Analyst Weigh In

Several brokerages have commented on BCYC. JMP Securities lowered their target price 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. Royal Bank of Canada reissued an “outperform” rating and issued a $35.00 price objective on shares of Bicycle Therapeutics in a research note on Friday, November 1st. B. Riley decreased their target price on shares of Bicycle Therapeutics from $28.00 to $17.00 and set a “neutral” rating on the stock in a research note on Friday, December 13th. Needham & Company LLC reiterated a “buy” rating and issued a $32.00 price target on shares of Bicycle Therapeutics in a research note on Monday, January 13th. Finally, HC Wainwright reissued a “buy” rating and set a $33.00 price objective on shares of Bicycle Therapeutics in a report on Monday, January 13th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $33.25.

Bicycle Therapeutics Price Performance

The stock has a 50-day moving average price of $16.92 and a 200-day moving average price of $21.34. The company has a market capitalization of $896.27 million, a P/E ratio of -3.95 and a beta of 0.92.

Bicycle Therapeutics (NASDAQ:BCYC) last issued its quarterly earnings results on Thursday, October 31st. The company reported ($0.74) earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $6.82 million. During the same quarter in the previous year, the company earned ($1.26) EPS. The company’s revenue for the quarter was down 50.0% on a year-over-year basis. Sell-side analysts anticipate that Bicycle Therapeutics plc will post -3.05 EPS for the current fiscal year.

Insider Buying and Selling at Bicycle Therapeutics

In other Bicycle Therapeutics news, COO Alistair Milnes sold 4,578 shares of the business’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 value of $64,504.02. Following the transaction, the chief operating officer now directly owns 100,724 shares of the company’s stock, valued at approximately $1,419,201.16. The trade was a 4.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Travis Alvin Thompson sold 6,256 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $25.11, for a total transaction 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,933 shares of company stock valued at $549,501. 8.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Bicycle Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of BCYC. Point72 Asset Management L.P. grew its stake in shares of Bicycle Therapeutics by 1,438.1% in the 3rd quarter. Point72 Asset Management L.P. now owns 899,799 shares of the company’s stock valued at $20,362,000 after buying an additional 841,299 shares during the period. Perceptive Advisors LLC bought a new position in Bicycle Therapeutics in the second quarter worth approximately $11,577,000. Principal Financial Group Inc. acquired a new stake in Bicycle Therapeutics in the third quarter valued at approximately $10,028,000. Westfield Capital Management Co. LP increased its holdings in shares of Bicycle Therapeutics by 21.5% during the third quarter. Westfield Capital Management Co. LP now owns 1,850,945 shares of the company’s stock valued at $41,887,000 after acquiring an additional 327,089 shares in the last quarter. Finally, Armistice Capital LLC raised its position in shares of Bicycle Therapeutics by 17.9% during the second quarter. Armistice Capital LLC now owns 1,972,000 shares of the company’s stock worth $39,913,000 after purchasing an additional 300,000 shares during the period. 86.15% of the stock is owned by 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.