Bicycle Therapeutics plc (NASDAQ:BCYC) CTO Michael Skynner Sells 3,287 Shares

Bicycle Therapeutics plc (NASDAQ:BCYC) CTO Michael Skynner sold 3,287 shares of the 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 $46,313.83. Following the completion of the sale, the chief technology officer now owns 124,658 shares in the company, valued at $1,756,431.22. This represents a 2.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Bicycle Therapeutics Price Performance

Shares of BCYC stock opened at $14.17 on Thursday. The firm’s 50-day simple moving average is $19.09 and its 200-day simple moving average is $21.82. Bicycle Therapeutics plc has a 1-year low of $12.17 and a 1-year high of $28.67. The firm has a market cap of $978.38 million, a P/E ratio of -4.31 and a beta of 0.92.

Bicycle Therapeutics (NASDAQ:BCYC) last posted its quarterly earnings results on Thursday, October 31st. The company reported ($0.74) earnings per share 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 company had revenue of $2.68 million for the quarter, compared to the consensus estimate of $6.82 million. During the same quarter last year, the firm posted ($1.26) earnings per share. Bicycle Therapeutics’s revenue was down 50.0% on a year-over-year basis. Analysts expect that Bicycle Therapeutics plc will post -3.05 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Assetmark Inc. purchased a new stake in Bicycle Therapeutics during the third quarter valued at about $34,000. GAMMA Investing LLC lifted its stake in shares of Bicycle Therapeutics by 105.1% in the 3rd quarter. GAMMA Investing LLC now owns 2,026 shares of the company’s stock valued at $46,000 after purchasing an additional 1,038 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in shares of Bicycle Therapeutics by 69.1% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 7,138 shares of the company’s stock worth $162,000 after purchasing an additional 2,918 shares during the period. JPMorgan Chase & Co. increased its position in Bicycle Therapeutics by 26.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 8,424 shares of the company’s stock worth $191,000 after purchasing an additional 1,782 shares in the last quarter. Finally, XTX Topco Ltd purchased a new position in Bicycle Therapeutics in the second quarter valued at approximately $206,000. 86.15% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on BCYC. B. Riley dropped their price target 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 dropped their price objective on Bicycle Therapeutics from $55.00 to $33.00 and set a “buy” rating for the company in a research report on Monday, December 16th. Royal Bank of Canada reissued an “outperform” rating and issued a $35.00 target price on shares of Bicycle Therapeutics in a research note on Friday, November 1st. Needham & Company LLC reaffirmed a “buy” rating and set a $38.00 price target on shares of Bicycle Therapeutics in a research note on Thursday, October 31st. Finally, JMP Securities cut their price objective 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. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus 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.