Bicycle Therapeutics (NASDAQ:BCYC) Stock Price Down 4.5% – Here’s Why

Bicycle Therapeutics plc (NASDAQ:BCYC) shares were down 4.5% on Tuesday . The stock traded as low as $13.47 and last traded at $13.49. Approximately 267,183 shares traded hands during mid-day trading, a decline of 34% from the average daily volume of 403,047 shares. The stock had previously closed at $14.13.

Wall Street Analyst Weigh In

A number of research firms recently commented on BCYC. HC Wainwright dropped their price target on shares of Bicycle Therapeutics from $55.00 to $33.00 and set a “buy” rating for the company in a research note on Monday, December 16th. Stephens assumed coverage on Bicycle Therapeutics in a research report on Friday, November 8th. They set an “equal weight” rating and a $25.00 target price for the company. JMP Securities cut their target price on Bicycle Therapeutics from $32.00 to $26.00 and set a “market outperform” rating on the stock in a research note on Wednesday, December 18th. Cantor Fitzgerald reissued an “overweight” rating on shares of Bicycle Therapeutics in a research note on Monday, September 9th. Finally, B. Riley dropped their price objective on Bicycle Therapeutics from $28.00 to $17.00 and set a “neutral” rating for the company in a report on Friday, December 13th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Bicycle Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $35.25.

Bicycle Therapeutics Stock Down 2.8 %

The firm has a 50 day moving average price of $20.35 and a 200 day moving average price of $22.11. The stock has a market cap of $948.69 million, a PE ratio of -4.18 and a beta of 0.86.

Bicycle Therapeutics (NASDAQ:BCYC) last announced its quarterly earnings results 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 during the quarter, compared to analysts’ expectations of $6.82 million. During the same quarter in the prior year, the company earned ($1.26) EPS. The company’s revenue was down 50.0% compared to the same quarter last year. Equities analysts forecast that Bicycle Therapeutics plc will post -3.05 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Bros. Advisors Lp Baker bought 985,397 shares of the stock in a transaction on Friday, December 13th. The stock was bought at an average cost of $13.76 per share, for a total transaction of $13,559,062.72. Following the completion of the purchase, the director now directly owns 9,537,643 shares in the company, valued at approximately $131,237,967.68. The trade was a 11.52 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Travis Alvin Thompson sold 6,256 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $25.11, for a total value of $157,088.16. Following the transaction, the chief accounting officer now directly owns 19,241 shares in the company, valued at approximately $483,141.51. The trade was a 24.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,840 shares of company stock worth $259,128. 8.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Bicycle Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. FMR LLC purchased a new position in shares of Bicycle Therapeutics in the 3rd quarter valued at approximately $3,406,000. TD Asset Management Inc raised its holdings in shares of Bicycle Therapeutics by 76.7% in the second quarter. TD Asset Management Inc now owns 97,186 shares of the company’s stock worth $1,967,000 after buying an additional 42,200 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of 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 during the period. Perceptive Advisors LLC purchased a new stake in shares of Bicycle Therapeutics during the second quarter valued at $11,577,000. Finally, Renaissance Technologies LLC increased its position in shares of Bicycle Therapeutics by 97.2% in the 2nd quarter. Renaissance Technologies LLC now owns 326,800 shares of the company’s stock valued at $6,614,000 after acquiring an additional 161,100 shares during the period. Institutional investors and hedge funds 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.