Bicycle Therapeutics (NASDAQ:BCYC) Shares Down 4.5% – Here’s Why

Shares of Bicycle Therapeutics plc (NASDAQ:BCYC) were down 4.5% on Tuesday . The company traded as low as $13.47 and last traded at $13.49. Approximately 267,183 shares traded hands during trading, a decline of 34% from the average daily volume of 403,047 shares. The stock had previously closed at $14.13.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. B. Riley cut their price objective on Bicycle Therapeutics from $28.00 to $17.00 and set a “neutral” rating for the company in a research report on Friday, December 13th. HC Wainwright reduced their price objective on shares of Bicycle Therapeutics from $55.00 to $33.00 and set a “buy” rating for the company in a research note on Monday, December 16th. Cantor Fitzgerald reissued an “overweight” rating on shares of Bicycle Therapeutics in a report on Monday, September 9th. Stephens began coverage on shares of Bicycle Therapeutics in a report on Friday, November 8th. They issued an “equal weight” rating and a $25.00 target price for the company. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $35.00 price target on shares of Bicycle Therapeutics in a research note on Friday, November 1st. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $35.25.

Bicycle Therapeutics Trading Down 0.9 %

The business has a 50 day moving average of $19.88 and a 200-day moving average of $21.98. The stock has a market cap of $966.64 million, a PE ratio of -4.26 and a beta of 0.86.

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

Insiders Place Their Bets

In other news, CAO Travis Alvin Thompson sold 6,256 shares of the firm’s stock in a transaction 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 owns 19,241 shares in the company, valued at $483,141.51. This trade represents a 24.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Bros. Advisors Lp Baker acquired 500,000 shares of the stock in a transaction dated Monday, December 16th. The stock was acquired at an average cost of $15.34 per share, with a total value of $7,670,000.00. Following the transaction, the director now owns 9,995,274 shares of the company’s stock, valued at approximately $153,327,503.16. This trade represents a 5.27 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 8.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Bicycle Therapeutics

Several hedge funds have recently modified their holdings of BCYC. GAMMA Investing LLC increased its position in Bicycle Therapeutics by 105.1% during the third quarter. GAMMA Investing LLC now owns 2,026 shares of the company’s stock worth $46,000 after purchasing an additional 1,038 shares during the last quarter. L & S Advisors Inc increased its holdings in shares of Bicycle Therapeutics by 2.4% during the 3rd quarter. L & S Advisors Inc now owns 59,735 shares of the company’s stock worth $1,352,000 after buying an additional 1,400 shares during the last quarter. Assetmark Inc. purchased a new position in shares of Bicycle Therapeutics in the 3rd quarter worth $34,000. JPMorgan Chase & Co. boosted its holdings 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 during the last quarter. Finally, China Universal Asset Management Co. Ltd. grew its position in Bicycle Therapeutics by 69.1% during the third quarter. China Universal Asset Management Co. Ltd. now owns 7,138 shares of the company’s stock valued at $162,000 after acquiring an additional 2,918 shares during the period. 86.15% of the stock is owned by institutional investors and hedge funds.

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.