Bicycle Therapeutics (NASDAQ:BCYC) Stock Price Down 4.5% – Should You Sell?

Bicycle Therapeutics plc (NASDAQ:BCYC)’s stock price traded down 4.5% on Tuesday . The stock traded as low as $13.47 and last traded at $13.49. 267,183 shares traded hands during mid-day trading, a decline of 34% from the average session volume of 403,047 shares. The stock had previously closed at $14.13.

Analysts Set New Price Targets

A number of equities analysts have issued reports on BCYC shares. Cantor Fitzgerald reissued an “overweight” rating on shares of Bicycle Therapeutics in a research report on Monday, September 9th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $35.00 price target on shares of Bicycle Therapeutics in a report on Friday, November 1st. Needham & Company LLC reiterated a “buy” rating and set a $38.00 price objective on shares of Bicycle Therapeutics in a research note on Thursday, October 31st. HC Wainwright dropped their target price on Bicycle Therapeutics from $55.00 to $33.00 and set a “buy” rating on the stock in a report on Monday, December 16th. Finally, JMP Securities decreased their price target on 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 analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $35.25.

Bicycle Therapeutics Trading Down 2.8 %

The stock has a market cap of $948.69 million, a PE ratio of -4.18 and a beta of 0.86. The business has a 50-day moving average price of $20.35 and a 200-day moving average price of $22.11.

Bicycle Therapeutics (NASDAQ:BCYC) last released its earnings results on Thursday, October 31st. The company reported ($0.74) EPS for the quarter, topping analysts’ consensus estimates of ($0.78) by $0.04. The business had revenue of $2.68 million during the quarter, compared to analysts’ expectations of $6.82 million. Bicycle Therapeutics had a negative net margin of 450.64% and a negative return on equity of 27.35%. During the same quarter in the previous year, the company earned ($1.26) earnings per share. The company’s quarterly revenue was down 50.0% on a year-over-year basis. Equities analysts expect that Bicycle Therapeutics plc will post -3.05 earnings per share for the current year.

Insider Activity

In other news, CEO Kevin Lee sold 3,212 shares of the business’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $22.26, for a total transaction of $71,499.12. Following the transaction, the chief executive officer now directly owns 380,864 shares in the company, valued at $8,478,032.64. The trade was a 0.84 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Travis Alvin Thompson sold 6,256 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $25.11, for a total value of $157,088.16. Following the completion of the sale, the chief accounting officer now owns 19,241 shares of the company’s stock, valued at $483,141.51. This trade represents a 24.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,840 shares of company stock worth $259,128 over the last quarter. 8.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Bicycle Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Point72 Asset Management L.P. raised its holdings in shares of Bicycle Therapeutics by 1,438.1% during the 3rd quarter. Point72 Asset Management L.P. now owns 899,799 shares of the company’s stock worth $20,362,000 after acquiring an additional 841,299 shares during the period. Avoro Capital Advisors LLC purchased a new position in Bicycle Therapeutics during the second quarter worth about $14,168,000. Perceptive Advisors LLC purchased a new stake in shares of Bicycle Therapeutics in the 2nd quarter valued at approximately $11,577,000. Principal Financial Group Inc. purchased a new stake in shares of Bicycle Therapeutics in the 3rd quarter valued at approximately $10,028,000. Finally, Westfield Capital Management Co. LP raised its position in shares of Bicycle Therapeutics by 21.5% during the 3rd quarter. Westfield Capital Management Co. LP now owns 1,850,945 shares of the company’s stock valued at $41,887,000 after buying an additional 327,089 shares during the period. Institutional investors and hedge funds 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.