Insider Selling: Bicycle Therapeutics plc (NASDAQ:BCYC) CTO Sells 3,287 Shares of Stock

Bicycle Therapeutics plc (NASDAQ:BCYC) CTO Michael Skynner sold 3,287 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $14.09, for a total value of $46,313.83. Following the transaction, the chief technology officer now directly owns 124,658 shares of the company’s stock, valued at approximately $1,756,431.22. The trade was a 2.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Bicycle Therapeutics Stock Performance

NASDAQ BCYC opened at $14.88 on Tuesday. The firm’s 50 day moving average price is $19.27 and its two-hundred day moving average price is $21.86. The stock has a market cap of $1.03 billion, a price-to-earnings ratio of -4.52 and a beta of 0.92. Bicycle Therapeutics plc has a twelve month low of $12.17 and a twelve month high of $28.67.

Bicycle Therapeutics (NASDAQ:BCYC) last posted its quarterly earnings results on Thursday, October 31st. The company reported ($0.74) earnings per share for the quarter, beating 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 analyst estimates of $6.82 million. During the same period in the previous year, the firm earned ($1.26) earnings per share. Bicycle Therapeutics’s quarterly revenue was down 50.0% on a year-over-year basis. On average, research analysts forecast that Bicycle Therapeutics plc will post -3.05 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts 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 note on Wednesday, December 18th. Stephens began coverage on shares of Bicycle Therapeutics in a research note on Friday, November 8th. They issued an “equal weight” rating and a $25.00 price objective on the stock. Cantor Fitzgerald reissued an “overweight” rating on shares of Bicycle Therapeutics in a research note on Monday, September 9th. B. Riley decreased their price target 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. Finally, HC Wainwright dropped their price target on Bicycle Therapeutics from $55.00 to $33.00 and set a “buy” rating on the stock in a report on Monday, December 16th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $35.25.

Institutional Trading of Bicycle Therapeutics

Institutional investors have recently made changes to their positions in the stock. Assetmark Inc. purchased a new position in Bicycle Therapeutics in the third quarter valued at about $34,000. GAMMA Investing LLC lifted its holdings in shares of Bicycle Therapeutics by 105.1% during the 3rd quarter. GAMMA Investing LLC now owns 2,026 shares of the company’s stock valued at $46,000 after buying an additional 1,038 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its stake in shares of Bicycle Therapeutics by 69.1% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 7,138 shares of the company’s stock valued at $162,000 after buying an additional 2,918 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Bicycle Therapeutics by 26.8% in the third quarter. JPMorgan Chase & Co. now owns 8,424 shares of the company’s stock worth $191,000 after buying an additional 1,782 shares during the last quarter. Finally, XTX Topco Ltd bought a new position in Bicycle Therapeutics during the second quarter valued at approximately $206,000. 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/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.