Bicycle Therapeutics plc (NASDAQ:BCYC) CTO Sells $46,313.83 in Stock

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 sale, the chief technology officer now directly owns 124,658 shares of the company’s stock, valued at $1,756,431.22. The trade was a 2.57 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Bicycle Therapeutics Trading Down 0.1 %

NASDAQ BCYC traded down $0.01 on Monday, hitting $14.88. 289,310 shares of the company’s stock traded hands, compared to its average volume of 435,603. The firm’s 50-day moving average price is $19.27 and its two-hundred day moving average price is $21.86. The firm 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 1-year low of $12.17 and a 1-year high of $28.67.

Bicycle Therapeutics (NASDAQ:BCYC) last posted its earnings results on Thursday, October 31st. The company reported ($0.74) earnings per share (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 net margin of 450.64% and a negative return on equity of 27.35%. The firm’s quarterly revenue was down 50.0% on a year-over-year basis. During the same period in the previous year, the firm posted ($1.26) earnings per share. On average, research analysts anticipate that Bicycle Therapeutics plc will post -3.05 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Stephens began coverage on Bicycle Therapeutics in a research report on Friday, November 8th. They issued an “equal weight” rating and a $25.00 price objective for the company. Royal Bank of Canada reissued an “outperform” rating and issued a $35.00 price target on shares of Bicycle Therapeutics in a report on Friday, November 1st. HC Wainwright cut their price objective on shares of Bicycle Therapeutics from $55.00 to $33.00 and set a “buy” rating on the stock in a report on Monday, December 16th. B. Riley lowered 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. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Bicycle Therapeutics in a research note on Monday, September 9th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $35.25.

Institutional Trading of Bicycle Therapeutics

Hedge funds have recently modified their holdings of the stock. FMR LLC purchased a new stake in Bicycle Therapeutics in the 3rd quarter worth approximately $3,406,000. TD Asset Management Inc lifted its stake in shares of Bicycle Therapeutics by 76.7% in the 2nd quarter. TD Asset Management Inc now owns 97,186 shares of the company’s stock valued at $1,967,000 after purchasing an additional 42,200 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in Bicycle Therapeutics by 33.2% during the third quarter. The Manufacturers Life Insurance Company now owns 129,705 shares of the company’s stock worth $2,935,000 after buying an additional 32,313 shares in the last quarter. Principal Financial Group Inc. acquired a new stake in Bicycle Therapeutics during the third quarter valued at $10,028,000. Finally, State Street Corp increased its holdings in Bicycle Therapeutics by 233.5% in the third quarter. State Street Corp now owns 86,271 shares of the company’s stock valued at $1,952,000 after buying an additional 60,399 shares in the last quarter. Hedge funds and other 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.