Bicycle Therapeutics (NASDAQ:BCYC) Sets New 52-Week Low – Should You Sell?

Bicycle Therapeutics plc (NASDAQ:BCYC)’s share price hit a new 52-week low on Monday . The company traded as low as $8.96 and last traded at $8.96, with a volume of 158660 shares traded. The stock had previously closed at $9.08.

Wall Street Analyst Weigh In

A number of research firms have recently commented on BCYC. Stephens restated an “equal weight” rating and set a $15.00 target price on shares of Bicycle Therapeutics in a research report on Wednesday, January 22nd. HC Wainwright reissued a “buy” rating and issued a $33.00 price objective on shares of Bicycle Therapeutics in a report on Wednesday, February 26th. Needham & Company LLC reaffirmed a “buy” rating and set a $30.00 target price on shares of Bicycle Therapeutics in a research note on Tuesday, March 11th. B. Riley decreased their target price on 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, JMP Securities cut their price target on shares of Bicycle Therapeutics from $32.00 to $26.00 and set a “market outperform” rating for the company in a report on Wednesday, December 18th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $29.14.

Bicycle Therapeutics Price Performance

The stock has a market capitalization of $612.44 million, a price-to-earnings ratio of -2.69 and a beta of 1.12. The stock has a 50 day moving average price of $11.74 and a 200-day moving average price of $17.91.

Bicycle Therapeutics (NASDAQ:BCYC) last posted its quarterly earnings results on Tuesday, February 25th. The company reported ($0.75) earnings per share for the quarter, topping the consensus estimate of ($0.85) by $0.10. The firm had revenue of $3.70 million for the quarter, compared to the consensus estimate of $5.47 million. Bicycle Therapeutics had a negative net margin of 450.64% and a negative return on equity of 27.35%. The company’s revenue for the quarter was down 30.2% on a year-over-year basis. During the same period last year, the firm posted ($1.16) earnings per share. As a group, research analysts forecast that Bicycle Therapeutics plc will post -3.06 earnings per share for the current year.

Insiders Place Their Bets

In related news, 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 completion of the sale, the insider now directly owns 69,057 shares of the company’s stock, valued at approximately $973,013.13. This trade represents a 6.68 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Travis Alvin Thompson sold 2,686 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $15.00, for a total transaction of $40,290.00. Following the completion of the sale, the chief accounting officer now owns 32,146 shares in the company, valued at approximately $482,190. This trade represents 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. Company insiders own 8.50% of the company’s stock.

Hedge Funds Weigh In On Bicycle Therapeutics

Hedge funds have recently made changes to their positions in the stock. FMR LLC acquired a new position in Bicycle Therapeutics during the third quarter worth $3,406,000. The Manufacturers Life Insurance Company lifted its stake in Bicycle Therapeutics by 33.2% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 129,705 shares of the company’s stock worth $2,935,000 after acquiring an additional 32,313 shares in the last quarter. Principal Financial Group Inc. acquired a new position in Bicycle Therapeutics in the 3rd quarter valued at about $10,028,000. State Street Corp increased its stake in Bicycle Therapeutics by 233.5% during the third quarter. State Street Corp now owns 86,271 shares of the company’s stock worth $1,952,000 after purchasing an additional 60,399 shares during the period. Finally, Jane Street Group LLC boosted its stake in shares of Bicycle Therapeutics by 35.7% in the third quarter. Jane Street Group LLC now owns 20,180 shares of the company’s stock valued at $457,000 after purchasing an additional 5,310 shares during the period. Hedge funds and other institutional investors own 86.15% of the company’s stock.

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.