Bicycle Therapeutics (NASDAQ:BCYC) Shares Down 5.2% – Here’s What Happened

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

Analyst Upgrades and Downgrades

BCYC has been the subject of a number of recent analyst reports. B. Riley lowered their price objective 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. HC Wainwright reaffirmed a “buy” rating and issued a $33.00 price target on shares of Bicycle Therapeutics in a report on Monday, January 13th. Needham & Company LLC reiterated a “buy” rating and set a $32.00 price objective on shares of Bicycle Therapeutics in a research note on Monday, January 13th. JMP Securities dropped their target price on shares of Bicycle Therapeutics from $32.00 to $26.00 and set a “market outperform” rating for the company in a research report on Wednesday, December 18th. Finally, Stephens reaffirmed an “equal weight” rating and set a $15.00 price target on shares of Bicycle Therapeutics in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Bicycle Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $33.25.

Bicycle Therapeutics Stock Performance

The firm has a market capitalization of $901.10 million, a price-to-earnings ratio of -3.96 and a beta of 0.92. The company’s fifty day moving average price is $17.32 and its 200 day moving average price is $21.44.

Bicycle Therapeutics (NASDAQ:BCYC) last issued its earnings results on Thursday, October 31st. The company reported ($0.74) EPS for the quarter, beating analysts’ consensus estimates of ($0.78) by $0.04. The company had revenue of $2.68 million during 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%. Bicycle Therapeutics’s quarterly revenue was down 50.0% compared to the same quarter last year. During the same period in the previous year, the firm posted ($1.26) earnings per share. As a group, sell-side analysts expect that Bicycle Therapeutics plc will post -3.05 earnings per share for the current year.

Insider Activity at Bicycle Therapeutics

In related news, CEO Kevin Lee sold 9,038 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $14.09, for a total transaction of $127,345.42. Following the transaction, the chief executive officer now owns 495,026 shares in the company, valued at $6,974,916.34. This trade represents a 1.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Travis Alvin Thompson sold 2,686 shares of the business’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $15.00, for a total value of $40,290.00. Following the completion of the sale, the chief accounting officer now directly owns 32,146 shares in the company, valued at $482,190. This represents a 7.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 33,933 shares of company stock worth $549,501 in the last ninety days. 8.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Bicycle Therapeutics

Several large investors have recently made changes to their positions in the business. Assetmark Inc. purchased a new position in Bicycle Therapeutics in the 3rd quarter worth about $34,000. GAMMA Investing LLC boosted its holdings in shares of Bicycle Therapeutics by 105.1% in the third quarter. GAMMA Investing LLC now owns 2,026 shares of the company’s stock worth $46,000 after buying an additional 1,038 shares during the period. Avior Wealth Management LLC purchased a new position in shares of Bicycle Therapeutics in the fourth quarter worth approximately $57,000. China Universal Asset Management Co. Ltd. raised its holdings in shares of 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. Finally, JPMorgan Chase & Co. lifted its position 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 valued at $191,000 after acquiring an additional 1,782 shares in the last quarter. Institutional investors own 86.15% of the company’s stock.

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.