Bicycle Therapeutics (NASDAQ:BCYC) Reaches New 52-Week Low – Here’s What Happened

Bicycle Therapeutics plc (NASDAQ:BCYC) shares hit a new 52-week low during trading on Monday . The stock traded as low as $9.41 and last traded at $9.89, with a volume of 629111 shares. The stock had previously closed at $9.63.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on BCYC. JMP Securities dropped their price target on shares of Bicycle Therapeutics from $32.00 to $26.00 and set a “market outperform” rating on the stock in a research note on Wednesday, December 18th. Stephens restated an “equal weight” rating and set a $15.00 price target on shares of Bicycle Therapeutics in a research note on Wednesday, January 22nd. B. Riley lowered 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 note on Friday, December 13th. HC Wainwright reiterated a “buy” rating and issued a $33.00 target price on shares of Bicycle Therapeutics in a research note on Wednesday, February 26th. 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 analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Bicycle Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $29.14.

Bicycle Therapeutics Trading Down 4.1 %

The business’s fifty day simple moving average is $12.12 and its two-hundred day simple moving average is $18.24. The stock has a market capitalization of $660.77 million, a P/E ratio of -2.91 and a beta of 1.12.

Bicycle Therapeutics (NASDAQ:BCYC) last issued its quarterly earnings results on Tuesday, February 25th. The company reported ($0.75) earnings per share for the quarter, beating 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 firm had revenue of $3.70 million during the quarter, compared to the consensus estimate of $5.47 million. During the same period in the prior year, the firm earned ($1.16) EPS. The business’s revenue was down 30.2% on a year-over-year basis. On average, equities research analysts anticipate that Bicycle Therapeutics plc will post -3.06 earnings per share for the current year.

Insider Buying and Selling at Bicycle Therapeutics

In other Bicycle Therapeutics news, COO Alistair Milnes sold 4,578 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 $64,504.02. Following the completion of the sale, the chief operating officer now directly owns 100,724 shares of the company’s stock, valued at $1,419,201.16. This represents a 4.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Santiago Arroyo sold 4,943 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $14.09, for a total transaction of $69,646.87. Following the transaction, the insider now directly owns 69,057 shares of the company’s stock, valued at $973,013.13. The trade was a 6.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 27,677 shares of company stock valued at $392,413 in the last ninety days. Company insiders own 8.50% of the company’s stock.

Hedge Funds Weigh In On Bicycle Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. Assetmark Inc. bought a new position in shares of Bicycle Therapeutics during the 3rd quarter worth about $34,000. Barclays PLC lifted its holdings in shares of 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 acquiring an additional 2,345 shares during the period. Avior Wealth Management LLC bought a new position in shares of Bicycle Therapeutics during the 4th quarter worth about $57,000. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Bicycle Therapeutics by 30.7% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 9,329 shares of the company’s stock worth $131,000 after acquiring an additional 2,191 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Bicycle Therapeutics by 26.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 8,424 shares of the company’s stock worth $191,000 after acquiring an additional 1,782 shares during the period. 86.15% of the stock is owned by institutional investors.

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.