Bicycle Therapeutics (NASDAQ:BCYC) Shares Down 5.2% – What’s Next?

Bicycle Therapeutics plc (NASDAQ:BCYC)’s stock price fell 5.2% on Wednesday . The stock traded as low as $13.06 and last traded at $12.86. 22,224 shares traded hands during 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 several recent analyst reports. B. Riley reduced their target price on shares of Bicycle Therapeutics from $28.00 to $17.00 and set a “neutral” rating for the company in a research note on Friday, December 13th. Stephens reaffirmed an “equal weight” rating and issued a $15.00 price objective on shares of Bicycle Therapeutics in a research report on Wednesday. Needham & Company LLC reiterated a “buy” rating and issued a $32.00 price objective on shares of Bicycle Therapeutics in a research note on Monday, January 13th. HC Wainwright restated a “buy” rating and issued a $33.00 target price on shares of Bicycle Therapeutics in a research note on Monday, January 13th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $35.00 price target on shares of Bicycle Therapeutics in a report on Friday, November 1st. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $33.25.

Bicycle Therapeutics Price Performance

The stock has a market capitalization of $896.27 million, a P/E ratio of -3.95 and a beta of 0.92. The company has a 50 day simple moving average of $16.92 and a 200-day simple moving average of $21.34.

Bicycle Therapeutics (NASDAQ:BCYC) last released its quarterly earnings data on Thursday, October 31st. The company reported ($0.74) 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 net margin of 450.64% and a negative return on equity of 27.35%. The company’s revenue was down 50.0% compared to the same quarter last year. During the same period in the prior year, the firm earned ($1.26) earnings per share. As a group, equities analysts forecast that Bicycle Therapeutics plc will post -3.05 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Santiago Arroyo sold 4,943 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $14.09, for a total transaction of $69,646.87. Following the sale, the insider now directly owns 69,057 shares in the company, valued at $973,013.13. This represents a 6.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Bros. Advisors Lp Baker acquired 985,397 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was purchased at an average price of $13.76 per share, with a total value of $13,559,062.72. Following the completion of the transaction, the director now directly owns 9,537,643 shares of the company’s stock, valued at $131,237,967.68. This trade represents a 11.52 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 33,933 shares of company stock valued at $549,501. Company insiders own 8.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in BCYC. Assetmark Inc. bought a new position in shares of Bicycle Therapeutics in the 3rd quarter worth $34,000. GAMMA Investing LLC increased its stake in Bicycle Therapeutics by 105.1% in the third quarter. GAMMA Investing LLC now owns 2,026 shares of the company’s stock valued at $46,000 after acquiring an additional 1,038 shares during the last quarter. Avior Wealth Management LLC purchased a new stake in Bicycle Therapeutics during the fourth quarter valued at about $57,000. China Universal Asset Management Co. Ltd. lifted its stake in Bicycle Therapeutics by 30.7% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 9,329 shares of the company’s stock worth $131,000 after purchasing an additional 2,191 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings 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 worth $191,000 after purchasing 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.