Bicycle Therapeutics (NASDAQ:BCYC) Trading Down 4.5% – Should You Sell?

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

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. JMP Securities decreased their target price on 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. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Bicycle Therapeutics in a research report on Monday, September 9th. B. Riley reduced their target price on shares of Bicycle Therapeutics from $28.00 to $17.00 and set a “neutral” rating on the stock in a research report on Friday, December 13th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $35.00 price target on shares of Bicycle Therapeutics in a report on Friday, November 1st. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $38.00 price objective on shares of Bicycle Therapeutics in a report on Thursday, October 31st. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, Bicycle Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $35.25.

Bicycle Therapeutics Stock Performance

The company has a market cap of $966.64 million, a P/E ratio of -4.26 and a beta of 0.86. The business has a fifty day simple moving average of $19.88 and a 200 day simple moving average of $21.98.

Bicycle Therapeutics (NASDAQ:BCYC) last announced its quarterly earnings data on Thursday, October 31st. The company reported ($0.74) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.78) by $0.04. Bicycle Therapeutics had a negative return on equity of 27.35% and a negative net margin of 450.64%. The firm had revenue of $2.68 million for the quarter, compared to analysts’ expectations of $6.82 million. During the same period last year, the business posted ($1.26) earnings per share. The firm’s revenue for the quarter was down 50.0% on a year-over-year basis. Equities research analysts expect that Bicycle Therapeutics plc will post -3.05 EPS for the current year.

Insider Activity

In related news, Director Bros. Advisors Lp Baker purchased 500,000 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were acquired at an average cost of $15.34 per share, for a total transaction of $7,670,000.00. Following the transaction, the director now owns 9,995,274 shares of the company’s stock, valued at $153,327,503.16. This trade represents a 5.27 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Travis Alvin Thompson sold 6,256 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $25.11, for a total value of $157,088.16. Following the transaction, the chief accounting officer now owns 19,241 shares of the company’s stock, valued at $483,141.51. This represents a 24.54 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 8.50% of the company’s stock.

Institutional Trading of Bicycle Therapeutics

Large investors have recently modified their holdings of the company. Armistice Capital LLC grew its position in Bicycle Therapeutics by 17.9% in the 2nd quarter. Armistice Capital LLC now owns 1,972,000 shares of the company’s stock worth $39,913,000 after purchasing an additional 300,000 shares during the last quarter. Westfield Capital Management Co. LP boosted 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 during the period. First Light Asset Management LLC increased its position in Bicycle Therapeutics by 16.1% in the 2nd quarter. First Light Asset Management LLC now owns 1,384,768 shares of the company’s stock valued at $28,028,000 after acquiring an additional 191,717 shares during the period. Point72 Asset Management L.P. raised its stake in Bicycle Therapeutics by 1,438.1% during the 3rd quarter. Point72 Asset Management L.P. now owns 899,799 shares of the company’s stock valued at $20,362,000 after acquiring an additional 841,299 shares in the last quarter. Finally, Avoro Capital Advisors LLC acquired a new position in Bicycle Therapeutics during the 2nd quarter worth $14,168,000. Institutional investors and hedge funds 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.