Insider Selling: Bicycle Therapeutics plc (NASDAQ:BCYC) Insider Sells 4,943 Shares of Stock

Bicycle Therapeutics plc (NASDAQ:BCYC) insider Santiago Arroyo sold 4,943 shares of Bicycle Therapeutics stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $14.09, for a total value of $69,646.87. Following the completion of the transaction, the insider now owns 69,057 shares in the company, valued at approximately $973,013.13. This represents a 6.68 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Bicycle Therapeutics Stock Down 0.1 %

Shares of NASDAQ:BCYC traded down $0.01 during trading on Monday, hitting $14.88. The stock had a trading volume of 289,310 shares, compared to its average volume of 435,603. The firm’s fifty day moving average is $19.27 and its 200 day moving average is $21.86. The company has a market capitalization of $1.03 billion, a PE ratio of -4.52 and a beta of 0.92. Bicycle Therapeutics plc has a 12 month low of $12.17 and a 12 month high of $28.67.

Bicycle Therapeutics (NASDAQ:BCYC) last posted its earnings results on Thursday, October 31st. The company reported ($0.74) EPS for the quarter, topping analysts’ consensus estimates of ($0.78) by $0.04. Bicycle Therapeutics had a negative return on equity of 27.35% and a negative net margin of 450.64%. The business had revenue of $2.68 million during the quarter, compared to analyst estimates of $6.82 million. During the same quarter last year, the company earned ($1.26) EPS. The company’s quarterly revenue was down 50.0% compared to the same quarter last year. Equities research analysts expect that Bicycle Therapeutics plc will post -3.05 EPS for the current fiscal year.

Institutional Investors Weigh In On Bicycle Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Armistice Capital LLC grew 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 in the last quarter. Westfield Capital Management Co. LP lifted its holdings in shares of Bicycle Therapeutics by 21.5% in the 3rd 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 during the last quarter. First Light Asset Management LLC boosted its holdings in shares of Bicycle Therapeutics by 16.1% in the 2nd quarter. First Light Asset Management LLC now owns 1,384,768 shares of the company’s stock worth $28,028,000 after purchasing an additional 191,717 shares during the period. Point72 Asset Management L.P. raised its stake in shares of Bicycle Therapeutics by 1,438.1% in the third quarter. Point72 Asset Management L.P. now owns 899,799 shares of the company’s stock valued at $20,362,000 after acquiring an additional 841,299 shares during the period. Finally, Avoro Capital Advisors LLC bought a new stake in Bicycle Therapeutics in the second quarter worth about $14,168,000. 86.15% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on BCYC shares. JMP Securities dropped their price target on shares of 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. Cantor Fitzgerald reiterated an “overweight” rating on shares of Bicycle Therapeutics in a research report on Monday, September 9th. Royal Bank of Canada restated an “outperform” rating and set a $35.00 price objective on shares of Bicycle Therapeutics in a report on Friday, November 1st. B. Riley cut their price target on Bicycle Therapeutics from $28.00 to $17.00 and set a “neutral” rating for the company in a research note on Friday, December 13th. Finally, Needham & Company LLC restated a “buy” rating and set a $38.00 price target on shares of Bicycle Therapeutics in a report on Thursday, October 31st. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $35.25.

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.