Bicycle Therapeutics plc (NASDAQ:BCYC) CTO Michael Skynner Sells 972 Shares

Bicycle Therapeutics plc (NASDAQ:BCYC) CTO Michael Skynner sold 972 shares of the stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $22.26, for a total transaction of $21,636.72. Following the completion of the sale, the chief technology officer now directly owns 92,945 shares of the company’s stock, valued at $2,068,955.70. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Bicycle Therapeutics Stock Up 6.3 %

NASDAQ:BCYC traded up $1.40 during mid-day trading on Friday, reaching $23.60. The stock had a trading volume of 393,343 shares, compared to its average volume of 339,028. The company has a debt-to-equity ratio of 0.01, a current ratio of 14.77 and a quick ratio of 14.77. The company has a market capitalization of $1.01 billion, a price-to-earnings ratio of -4.99 and a beta of 0.90. Bicycle Therapeutics plc has a 1-year low of $12.54 and a 1-year high of $28.20. The stock’s 50 day simple moving average is $23.38 and its two-hundred day simple moving average is $22.93.

Bicycle Therapeutics (NASDAQ:BCYC) last issued its earnings results on Tuesday, August 6th. The company reported ($0.77) EPS for the quarter, topping the consensus estimate of ($1.10) by $0.33. The company had revenue of $9.36 million during the quarter, compared to analyst estimates of $6.13 million. Bicycle Therapeutics had a negative return on equity of 32.80% and a negative net margin of 417.88%. The company’s revenue was down 17.9% on a year-over-year basis. Equities analysts anticipate that Bicycle Therapeutics plc will post -3.17 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on BCYC. B. Riley downgraded shares of Bicycle Therapeutics from a “buy” rating to a “neutral” rating and decreased their target price for the company from $33.00 to $28.00 in a research note on Wednesday, August 7th. Cantor Fitzgerald restated an “overweight” rating on shares of Bicycle Therapeutics in a research note on Monday, September 9th. Oppenheimer reaffirmed an “outperform” rating and set a $48.00 target price on shares of Bicycle Therapeutics in a research report on Wednesday, August 7th. JMP Securities reissued a “market outperform” rating and issued a $32.00 price target on shares of Bicycle Therapeutics in a report on Monday, September 16th. Finally, HC Wainwright restated a “buy” rating and set a $55.00 price objective on shares of Bicycle Therapeutics in a research note on Monday, September 16th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $44.56.

Institutional Trading of Bicycle Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the business. Baker BROS. Advisors LP boosted its holdings in shares of Bicycle Therapeutics by 176.1% in the 1st quarter. Baker BROS. Advisors LP now owns 4,942,823 shares of the company’s stock valued at $123,076,000 after buying an additional 3,152,433 shares during the period. Avoro Capital Advisors LLC bought a new position in Bicycle Therapeutics in the second quarter worth about $14,168,000. Perceptive Advisors LLC acquired a new position in Bicycle Therapeutics in the second quarter valued at approximately $11,577,000. Armistice Capital LLC grew its holdings in shares of Bicycle Therapeutics by 17.9% during the second quarter. Armistice Capital LLC now owns 1,972,000 shares of the company’s stock valued at $39,913,000 after purchasing an additional 300,000 shares during the last quarter. Finally, First Light Asset Management LLC raised its position in shares of Bicycle Therapeutics by 16.1% during the 2nd quarter. First Light Asset Management LLC now owns 1,384,768 shares of the company’s stock worth $28,028,000 after purchasing an additional 191,717 shares during the period. 86.15% of the stock is 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.