Bicycle Therapeutics (NASDAQ:BCYC) Sets New 12-Month Low – What’s Next?

Shares of Bicycle Therapeutics plc (NASDAQ:BCYC) hit a new 52-week low on Monday . The stock traded as low as $9.89 and last traded at $10.13, with a volume of 3986 shares trading hands. The stock had previously closed at $10.23.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. JMP Securities decreased 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. Stephens restated an “equal weight” rating and set a $15.00 price target on shares of Bicycle Therapeutics in a research note on Wednesday, January 22nd. Needham & Company LLC restated a “buy” rating and set a $30.00 price objective on shares of Bicycle Therapeutics in a research note on Wednesday, February 26th. B. Riley cut their target price on Bicycle Therapeutics from $28.00 to $17.00 and set a “neutral” rating on the stock in a research note on Friday, December 13th. Finally, HC Wainwright restated a “buy” rating and set a $33.00 price target on shares of Bicycle Therapeutics in a research report on Wednesday, February 26th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Bicycle Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $29.14.

Bicycle Therapeutics Trading Down 2.6 %

The stock has a market cap of $688.04 million, a P/E ratio of -3.02 and a beta of 1.12. The company has a 50-day moving average price of $12.77 and a two-hundred day moving average price of $18.87.

Bicycle Therapeutics (NASDAQ:BCYC) last posted its quarterly earnings results on Tuesday, February 25th. The company reported ($0.75) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.85) by $0.10. The business had revenue of $3.70 million for the quarter, compared to the consensus estimate of $5.47 million. Bicycle Therapeutics had a negative return on equity of 27.35% and a negative net margin of 450.64%. The business’s revenue was down 30.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($1.16) EPS. As a group, equities analysts forecast that Bicycle Therapeutics plc will post -3.06 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Santiago Arroyo sold 4,943 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $14.09, for a total transaction of $69,646.87. Following the completion of the transaction, the insider now directly owns 69,057 shares in the company, valued at approximately $973,013.13. This represents a 6.68 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Bros. Advisors Lp Baker acquired 500,000 shares of the stock in a transaction dated Monday, December 16th. The stock was acquired at an average cost of $15.34 per share, with a total value of $7,670,000.00. Following the purchase, the director now owns 9,995,274 shares of the company’s stock, valued at approximately $153,327,503.16. This trade represents a 5.27 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 27,677 shares of company stock worth $392,413. Company insiders own 8.50% of the company’s stock.

Institutional Trading of Bicycle Therapeutics

A number of institutional investors have recently modified their holdings of the business. Baker BROS. Advisors LP lifted its stake in Bicycle Therapeutics by 15.8% in the 4th quarter. Baker BROS. Advisors LP now owns 10,885,357 shares of the company’s stock valued at $152,395,000 after buying an additional 1,485,397 shares in the last quarter. Point72 Asset Management L.P. raised its stake in shares of Bicycle Therapeutics by 406.2% during the fourth quarter. Point72 Asset Management L.P. now owns 4,554,900 shares of the company’s stock valued at $63,769,000 after purchasing an additional 3,655,101 shares during the period. Fcpm Iii Services B.V. boosted its position in Bicycle Therapeutics by 47.5% in the 4th quarter. Fcpm Iii Services B.V. now owns 3,452,330 shares of the company’s stock valued at $48,333,000 after buying an additional 1,112,369 shares during the last quarter. Westfield Capital Management Co. LP grew its position in shares of Bicycle Therapeutics by 21.5% during the third quarter. Westfield Capital Management Co. LP now owns 1,850,945 shares of the company’s stock worth $41,887,000 after buying an additional 327,089 shares in the last quarter. Finally, Candriam S.C.A. increased its position in shares of Bicycle Therapeutics by 3.5% in the 4th quarter. Candriam S.C.A. now owns 1,087,876 shares of the company’s stock worth $15,230,000 after purchasing an additional 37,278 shares during the last quarter. 86.15% of the stock is currently owned by hedge funds and other institutional investors.

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.