Bicycle Therapeutics (NASDAQ:BCYC) Shares Down 3.9% – Should You Sell?

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

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Stephens assumed coverage on Bicycle Therapeutics in a report on Friday, November 8th. They set an “equal weight” rating and a $25.00 target price on the stock. Needham & Company LLC reissued a “buy” rating and set a $32.00 target price on shares of Bicycle Therapeutics in a report on Monday. Royal Bank of Canada reissued an “outperform” rating and set a $35.00 target price on shares of Bicycle Therapeutics in a report on Friday, November 1st. B. Riley dropped their target price on Bicycle Therapeutics from $28.00 to $17.00 and set a “neutral” rating on the stock in a report on Friday, December 13th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $33.00 price target on shares of Bicycle Therapeutics in a report on Monday. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $34.50.

Bicycle Therapeutics Price Performance

The company has a market cap of $932.18 million, a P/E ratio of -4.10 and a beta of 0.92. The company has a fifty day simple moving average of $17.99 and a 200-day simple moving average of $21.56.

Bicycle Therapeutics (NASDAQ:BCYC) last posted its quarterly earnings data on Thursday, October 31st. The company reported ($0.74) earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $2.68 million for the quarter, compared to analysts’ expectations of $6.82 million. During the same period in the previous year, the company posted ($1.26) EPS. The company’s quarterly revenue was down 50.0% compared to the same quarter last year. On average, analysts anticipate that Bicycle Therapeutics plc will post -3.05 EPS for the current year.

Insiders Place Their Bets

In other news, CAO Travis Alvin Thompson sold 6,256 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $25.11, for a total transaction of $157,088.16. Following the transaction, the chief accounting officer now directly owns 19,241 shares in the company, valued at $483,141.51. The trade was a 24.54 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Santiago Arroyo sold 4,943 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $14.09, for a total transaction of $69,646.87. Following the transaction, the insider now owns 69,057 shares in the company, valued at approximately $973,013.13. This represents a 6.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 33,933 shares of company stock worth $549,501. Corporate insiders own 8.50% of the company’s stock.

Hedge Funds Weigh In On Bicycle Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. grew its holdings in shares of Bicycle Therapeutics by 26.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 8,424 shares of the company’s stock valued at $191,000 after acquiring an additional 1,782 shares in the last quarter. Principal Financial Group Inc. purchased a new position in shares of Bicycle Therapeutics during the 3rd quarter valued at $10,028,000. Geode Capital Management LLC grew its holdings in shares of Bicycle Therapeutics by 79.3% during the 3rd quarter. Geode Capital Management LLC now owns 38,335 shares of the company’s stock valued at $868,000 after acquiring an additional 16,958 shares in the last quarter. Jane Street Group LLC boosted its holdings in Bicycle Therapeutics by 35.7% in the third quarter. Jane Street Group LLC now owns 20,180 shares of the company’s stock worth $457,000 after purchasing an additional 5,310 shares in the last quarter. Finally, State Street Corp boosted 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 worth $1,952,000 after purchasing an additional 60,399 shares in 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.