Bicycle Therapeutics (NASDAQ:BCYC) Shares Down 3.9% – Here’s What Happened

Bicycle Therapeutics plc (NASDAQ:BCYC) shares were down 3.9% during trading on Thursday . The stock traded as low as $13.98 and last traded at $13.98. Approximately 12,438 shares traded hands during mid-day trading, a decline of 96% from the average daily volume of 352,924 shares. The stock had previously closed at $14.55.

Analyst Ratings Changes

BCYC has been the topic of several recent analyst reports. HC Wainwright reiterated a “buy” rating and set a $33.00 price objective on shares of Bicycle Therapeutics in a report on Monday, January 13th. Needham & Company LLC reaffirmed a “buy” rating and set a $32.00 price target on shares of Bicycle Therapeutics in a research note on Monday, January 13th. Royal Bank of Canada reissued an “outperform” rating and set a $35.00 price objective on shares of Bicycle Therapeutics in a research note on Friday, November 1st. Stephens started coverage on Bicycle Therapeutics in a research report on Friday, November 8th. They issued an “equal weight” rating and a $25.00 target price on the stock. Finally, JMP Securities reduced their target price on Bicycle Therapeutics from $32.00 to $26.00 and set a “market outperform” rating on the stock in a report on Wednesday, December 18th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $34.50.

Bicycle Therapeutics Stock Down 1.8 %

The stock has a 50 day simple moving average of $17.54 and a 200 day simple moving average of $21.46. The company has a market cap of $921.13 million, a price-to-earnings ratio of -4.05 and a beta of 0.92.

Bicycle Therapeutics (NASDAQ:BCYC) last released its quarterly earnings results on Thursday, October 31st. The company reported ($0.74) EPS for the quarter, topping the consensus estimate of ($0.78) by $0.04. The firm had revenue of $2.68 million for the quarter, compared to analyst estimates 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 revenue for the quarter was down 50.0% on a year-over-year basis. During the same period in the previous year, the company posted ($1.26) EPS. As a group, equities research analysts expect that Bicycle Therapeutics plc will post -3.05 EPS for the current fiscal year.

Insider Activity

In other Bicycle Therapeutics news, Director Bros. Advisors Lp Baker purchased 985,397 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The shares were acquired at an average price of $13.76 per share, for a total transaction of $13,559,062.72. Following the completion of the purchase, the director now owns 9,537,643 shares in the company, valued at $131,237,967.68. The trade was a 11.52 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Travis Alvin Thompson sold 2,686 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $15.00, for a total value of $40,290.00. Following the sale, the chief accounting officer now owns 32,146 shares of the company’s stock, valued at approximately $482,190. This trade represents a 7.71 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 33,933 shares of company stock worth $549,501. 8.50% of the stock is currently owned by company insiders.

Institutional Trading of Bicycle Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Renaissance Technologies LLC grew its holdings in Bicycle Therapeutics by 97.2% during the 2nd quarter. Renaissance Technologies LLC now owns 326,800 shares of the company’s stock worth $6,614,000 after acquiring an additional 161,100 shares in the last quarter. XTX Topco Ltd acquired a new position in Bicycle Therapeutics in the second quarter worth about $206,000. Avoro Capital Advisors LLC acquired a new position in Bicycle Therapeutics in the second quarter worth about $14,168,000. Marshall Wace LLP bought a new stake in Bicycle Therapeutics in the second quarter valued at about $1,801,000. Finally, First Light Asset Management LLC raised its stake in Bicycle Therapeutics by 16.1% during the second quarter. First Light Asset Management LLC now owns 1,384,768 shares of the company’s stock valued at $28,028,000 after buying an additional 191,717 shares in the last quarter. Institutional investors 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/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.