Bicycle Therapeutics (NASDAQ:BCYC) Trading Down 3%

Bicycle Therapeutics plc (NASDAQ:BCYC) shares dropped 3% on Tuesday . The company traded as low as $23.20 and last traded at $23.24. Approximately 43,271 shares were traded during trading, a decline of 87% from the average daily volume of 336,705 shares. The stock had previously closed at $23.97.

Wall Street Analyst Weigh In

BCYC has been the topic of several recent analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $38.00 price target on shares of Bicycle Therapeutics in a research note on Monday, September 16th. Oppenheimer reiterated an “outperform” rating and issued a $48.00 price target on shares of Bicycle Therapeutics in a research note on Wednesday, August 7th. B. Riley downgraded shares of Bicycle Therapeutics from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $33.00 to $28.00 in a research report on Wednesday, August 7th. Royal Bank of Canada began coverage on Bicycle Therapeutics in a report on Friday, September 6th. They issued an “outperform” rating and a $35.00 target price on the stock. Finally, JMP Securities restated a “market outperform” rating and set a $32.00 price target on shares of Bicycle Therapeutics in a research note on Monday, September 16th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $44.56.

Bicycle Therapeutics Price Performance

The company’s 50-day simple moving average is $23.46 and its 200-day simple moving average is $22.99. 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 cap of $1.02 billion, a price-to-earnings ratio of -5.39 and a beta of 0.90.

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

Insider Buying and Selling

In other Bicycle Therapeutics news, CEO Kevin Lee sold 3,194 shares of Bicycle Therapeutics stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $19.64, for a total transaction of $62,730.16. Following the sale, the chief executive officer now owns 384,076 shares in the company, valued at $7,543,252.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last ninety days, insiders sold 4,555 shares of company stock worth $89,460. Corporate insiders own 8.50% of the company’s stock.

Institutional Trading of Bicycle Therapeutics

A number of large investors have recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. increased its holdings 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 valued at $171,000 after purchasing an additional 2,858 shares during the last quarter. Woodstock Corp increased its stake in shares of Bicycle Therapeutics by 16.3% during the first quarter. Woodstock Corp now owns 24,981 shares of the company’s stock worth $622,000 after purchasing an additional 3,502 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings 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. bought a new stake in Bicycle Therapeutics in the 4th quarter valued at $137,000. Finally, L & S Advisors Inc grew its holdings in Bicycle Therapeutics by 16.1% in the 2nd quarter. L & S Advisors Inc now owns 58,335 shares of the company’s stock valued at $1,181,000 after buying an additional 8,075 shares in the last quarter. Institutional investors own 86.15% of the company’s stock.

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.