Bicycle Therapeutics (NASDAQ:BCYC) Stock Price Down 3.1%

Shares of Bicycle Therapeutics plc (NASDAQ:BCYC) traded down 3.1% on Wednesday . The company traded as low as $23.61 and last traded at $23.76. 17,381 shares traded hands during trading, a decline of 95% from the average session volume of 355,356 shares. The stock had previously closed at $24.53.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Canaccord Genuity Group reissued a “buy” rating and issued a $60.00 price target on shares of Bicycle Therapeutics in a research report on Wednesday, February 21st. HC Wainwright dropped their price target on Bicycle Therapeutics from $57.00 to $55.00 and set a “buy” rating on the stock in a research note on Wednesday, February 21st. Needham & Company LLC reiterated a “buy” rating and issued a $43.00 price objective on shares of Bicycle Therapeutics in a research note on Wednesday, February 21st. Finally, JMP Securities decreased their price objective on Bicycle Therapeutics from $44.00 to $32.00 and set a “market outperform” rating for the company in a report on Wednesday, December 20th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $47.88.

Bicycle Therapeutics Stock Up 1.4 %

The business has a 50-day simple moving average of $22.00 and a two-hundred day simple moving average of $19.04. The company has a market capitalization of $748.00 million, a price-to-earnings ratio of -4.85 and a beta of 0.90. The company has a debt-to-equity ratio of 0.08, a quick ratio of 8.08 and a current ratio of 8.08.

Bicycle Therapeutics (NASDAQ:BCYC) last issued its quarterly earnings results on Tuesday, February 20th. The company reported ($1.16) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.23) by $0.07. Bicycle Therapeutics had a negative net margin of 669.72% and a negative return on equity of 57.80%. The business had revenue of $5.33 million for the quarter, compared to analyst estimates of $11.68 million. As a group, equities analysts predict that Bicycle Therapeutics plc will post -5.2 EPS for the current year.

Insider Buying and Selling at Bicycle Therapeutics

In other news, CEO Kevin Lee sold 8,703 shares of the stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $17.50, for a total value of $152,302.50. Following the completion of the transaction, the chief executive officer now owns 390,428 shares in the company, valued at approximately $6,832,490. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Kevin Lee sold 8,703 shares of the company’s stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $17.50, for a total value of $152,302.50. Following the sale, the chief executive officer now owns 390,428 shares in the company, valued at approximately $6,832,490. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Nigel Crockett sold 2,643 shares of the firm’s stock in a transaction that occurred on Wednesday, January 3rd. The shares were sold at an average price of $17.50, for a total value of $46,252.50. Following the completion of the transaction, the insider now directly owns 48,716 shares of the company’s stock, valued at $852,530. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,950 shares of company stock valued at $209,125. 10.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Platinum Investment Management Ltd. acquired a new stake in Bicycle Therapeutics during the third quarter worth approximately $5,735,000. Deutsche Bank AG grew its position in shares of Bicycle Therapeutics by 1,051.4% in the third quarter. Deutsche Bank AG now owns 96,370 shares of the company’s stock valued at $1,936,000 after purchasing an additional 88,000 shares during the period. Braidwell LP acquired a new position in Bicycle Therapeutics in the third quarter valued at $25,914,000. Exchange Traded Concepts LLC boosted its stake in Bicycle Therapeutics by 34.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 6,727 shares of the company’s stock worth $122,000 after buying an additional 1,706 shares during the last quarter. Finally, Polar Capital Holdings Plc increased its stake in shares of Bicycle Therapeutics by 33.2% during the 3rd quarter. Polar Capital Holdings Plc now owns 1,011,500 shares of the company’s stock valued at $20,321,000 after acquiring an additional 252,000 shares during the last quarter. 86.15% of the stock is currently owned by institutional investors and hedge funds.

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 and phase 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.