Insider Selling: Bicycle Therapeutics plc (NASDAQ:BCYC) CEO Sells 3,212 Shares of Stock

Bicycle Therapeutics plc (NASDAQ:BCYC) CEO Kevin Lee sold 3,212 shares of the business’s stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $22.26, for a total transaction of $71,499.12. Following the transaction, the chief executive officer now owns 380,864 shares in the company, valued at $8,478,032.64. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Bicycle Therapeutics Trading Up 6.3 %

BCYC stock traded up $1.40 during mid-day trading on Friday, hitting $23.60. 393,343 shares of the company were exchanged, compared to its average volume of 339,028. Bicycle Therapeutics plc has a 12-month low of $12.54 and a 12-month high of $28.20. The firm has a market capitalization of $1.01 billion, a P/E ratio of -4.99 and a beta of 0.90. The business has a fifty day simple moving average of $23.38 and a 200-day simple moving average of $22.93. The company has a quick ratio of 14.77, a current ratio of 14.77 and a debt-to-equity ratio of 0.01.

Bicycle Therapeutics (NASDAQ:BCYC) last posted its earnings results on Tuesday, August 6th. The company reported ($0.77) earnings per share for the quarter, beating the consensus estimate of ($1.10) by $0.33. Bicycle Therapeutics had a negative net margin of 417.88% and a negative return on equity of 32.80%. The firm had revenue of $9.36 million during the quarter, compared to the consensus estimate of $6.13 million. The company’s revenue for the quarter was down 17.9% compared to the same quarter last year. On average, equities research analysts predict that Bicycle Therapeutics plc will post -3.17 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

BCYC has been the topic of a number of research reports. JMP Securities reissued a “market outperform” rating and issued a $32.00 target price on shares of Bicycle Therapeutics in a research note on Monday, September 16th. Cantor Fitzgerald reissued an “overweight” rating on shares of Bicycle Therapeutics in a research note on Monday, September 9th. Needham & Company LLC reaffirmed a “buy” rating and issued a $38.00 target price on shares of Bicycle Therapeutics in a research note on Monday, September 16th. HC Wainwright reissued a “buy” rating and set a $55.00 price target on shares of Bicycle Therapeutics in a research report on Monday, September 16th. Finally, Royal Bank of Canada initiated coverage on shares of Bicycle Therapeutics in a report on Friday, September 6th. They issued an “outperform” rating and a $35.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $44.56.

Institutional Investors Weigh In On Bicycle Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the company. China Universal Asset Management Co. Ltd. grew its stake in shares of Bicycle Therapeutics by 71.4% in the first quarter. China Universal Asset Management Co. Ltd. now owns 6,859 shares of the company’s stock worth $171,000 after acquiring an additional 2,858 shares in the last quarter. Woodstock Corp boosted its holdings in shares of Bicycle Therapeutics by 16.3% in the first quarter. Woodstock Corp now owns 24,981 shares of the company’s stock valued at $622,000 after acquiring an additional 3,502 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in Bicycle Therapeutics by 0.6% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 888,081 shares of the company’s stock worth $17,975,000 after purchasing an additional 4,976 shares during the last quarter. PNC Financial Services Group Inc. purchased a new position in shares of Bicycle Therapeutics during the fourth quarter worth about $137,000. Finally, L & S Advisors Inc raised its position in Bicycle Therapeutics by 16.1% during the 2nd quarter. L & S Advisors Inc now owns 58,335 shares of the company’s stock worth $1,181,000 after buying an additional 8,075 shares during the last quarter. Hedge funds and other institutional investors own 86.15% of the company’s stock.

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.