Bicycle Therapeutics (NASDAQ:BCYC) Shares Down 3.1%

Bicycle Therapeutics plc (NASDAQ:BCYC)’s stock price dropped 3.1% during trading on Wednesday . The stock traded as low as $23.61 and last traded at $23.76. Approximately 17,381 shares changed hands during trading, a decline of 95% from the average daily volume of 355,356 shares. The stock had previously closed at $24.53.

Analyst Ratings Changes

Several analysts have issued reports on BCYC shares. HC Wainwright decreased their price objective on shares of Bicycle Therapeutics from $57.00 to $55.00 and set a “buy” rating for the company in a research note on Wednesday, February 21st. Canaccord Genuity Group reissued a “buy” rating and set a $60.00 price target on shares of Bicycle Therapeutics in a research note on Wednesday, February 21st. JMP Securities cut their price objective on Bicycle Therapeutics from $44.00 to $32.00 and set a “market outperform” rating on the stock in a research report on Wednesday, December 20th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $43.00 price objective on shares of Bicycle Therapeutics in a research report on Wednesday, February 21st. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $47.88.

Bicycle Therapeutics Price Performance

The firm has a fifty day moving average of $22.00 and a two-hundred day moving average of $19.04. The stock has a market capitalization of $748.00 million, a P/E ratio of -4.85 and a beta of 0.90. The company has a debt-to-equity ratio of 0.08, a current ratio of 8.08 and a quick ratio of 8.08.

Bicycle Therapeutics (NASDAQ:BCYC) last announced its earnings results on Tuesday, February 20th. The company reported ($1.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.23) by $0.07. Bicycle Therapeutics had a negative return on equity of 57.80% and a negative net margin of 669.72%. The business had revenue of $5.33 million for the quarter, compared to analysts’ expectations of $11.68 million. On average, analysts predict that Bicycle Therapeutics plc will post -5.2 EPS for the current year.

Insider Transactions at Bicycle Therapeutics

In other Bicycle Therapeutics news, CEO Kevin Lee sold 8,703 shares of the stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $17.50, for a total value of $152,302.50. Following the completion of the sale, the chief executive officer now directly owns 390,428 shares in the company, valued at $6,832,490. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CEO Kevin Lee sold 8,703 shares of the company’s stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $17.50, for a total transaction of $152,302.50. Following the transaction, the chief executive officer now owns 390,428 shares in the company, valued at $6,832,490. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Nigel Crockett sold 2,643 shares of Bicycle Therapeutics stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $17.50, for a total transaction of $46,252.50. Following the completion of the sale, the insider now owns 48,716 shares of the company’s stock, valued at $852,530. The disclosure for this sale can be found here. Insiders sold 11,950 shares of company stock valued at $209,125 in the last quarter. 10.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Bicycle Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the business. BluePath Capital Management LLC purchased a new stake in shares of Bicycle Therapeutics in the 3rd quarter valued at $31,000. Tower Research Capital LLC TRC boosted its holdings in Bicycle Therapeutics by 109.7% in the third quarter. Tower Research Capital LLC TRC now owns 2,263 shares of the company’s stock valued at $53,000 after purchasing an additional 1,184 shares during the last quarter. Osaic Holdings Inc. grew its position in Bicycle Therapeutics by 118.9% during the 2nd quarter. Osaic Holdings Inc. now owns 2,320 shares of the company’s stock worth $59,000 after purchasing an additional 1,260 shares during the period. Quantbot Technologies LP purchased a new position in shares of Bicycle Therapeutics during the 2nd quarter valued at about $60,000. Finally, China Universal Asset Management Co. Ltd. lifted its holdings in shares of Bicycle Therapeutics by 489.2% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 4,001 shares of the company’s stock valued at $72,000 after buying an additional 3,322 shares during the period. 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 and phase 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.