Bicycle Therapeutics (NASDAQ:BCYC) Sets New 1-Year Low – Here’s Why

Bicycle Therapeutics plc (NASDAQ:BCYC) reached a new 52-week low during trading on Monday . The company traded as low as $8.96 and last traded at $8.96, with a volume of 158660 shares changing hands. The stock had previously closed at $9.08.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. HC Wainwright restated a “buy” rating and issued a $33.00 price target on shares of Bicycle Therapeutics in a report on Wednesday, February 26th. Stephens reaffirmed an “equal weight” rating and set a $15.00 target price on shares of Bicycle Therapeutics in a research report on Wednesday, January 22nd. B. Riley cut their price target on Bicycle Therapeutics from $28.00 to $17.00 and set a “neutral” rating on the stock in a report on Friday, December 13th. JMP Securities decreased their price objective 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. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $30.00 target price on shares of Bicycle Therapeutics in a research note on Tuesday, March 11th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Bicycle Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $29.14.

Bicycle Therapeutics Stock Down 3.8 %

The company has a market capitalization of $612.44 million, a PE ratio of -2.69 and a beta of 1.12. The business has a 50 day simple moving average of $11.74 and a 200 day simple moving average of $17.91.

Bicycle Therapeutics (NASDAQ:BCYC) last released its earnings results on Tuesday, February 25th. The company reported ($0.75) EPS for the quarter, topping analysts’ consensus estimates of ($0.85) by $0.10. Bicycle Therapeutics had a negative net margin of 450.64% and a negative return on equity of 27.35%. The company had revenue of $3.70 million during the quarter, compared to analysts’ expectations of $5.47 million. During the same period last year, the business earned ($1.16) EPS. Bicycle Therapeutics’s revenue for the quarter was down 30.2% on a year-over-year basis. Equities analysts expect that Bicycle Therapeutics plc will post -3.06 EPS for the current fiscal year.

Insider Activity

In other Bicycle Therapeutics news, CEO Kevin Lee sold 9,038 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $14.09, for a total transaction of $127,345.42. Following the completion of the transaction, the chief executive officer now directly owns 495,026 shares of the company’s stock, valued at approximately $6,974,916.34. This trade represents a 1.79 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Travis Alvin Thompson sold 2,686 shares of Bicycle Therapeutics stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $15.00, for a total transaction of $40,290.00. Following the sale, the chief accounting officer now owns 32,146 shares of the company’s stock, valued at approximately $482,190. The trade was a 7.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 27,677 shares of company stock valued at $392,413 over the last ninety days. 8.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Barclays PLC grew its position in Bicycle Therapeutics by 878.3% during the 4th quarter. Barclays PLC now owns 2,612 shares of the company’s stock worth $37,000 after purchasing an additional 2,345 shares during the period. Avior Wealth Management LLC acquired a new stake in Bicycle Therapeutics during the fourth quarter worth about $57,000. China Universal Asset Management Co. Ltd. lifted its holdings in Bicycle Therapeutics by 30.7% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 9,329 shares of the company’s stock valued at $131,000 after acquiring an additional 2,191 shares during the period. JPMorgan Chase & Co. boosted its position in Bicycle Therapeutics by 26.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 8,424 shares of the company’s stock worth $191,000 after purchasing an additional 1,782 shares in the last quarter. Finally, Erste Asset Management GmbH purchased a new stake in Bicycle Therapeutics in the 3rd quarter worth approximately $325,000. 86.15% of the stock is currently owned by institutional investors and hedge funds.

Bicycle Therapeutics Company Profile

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.