Bicycle Therapeutics (NASDAQ:BCYC) Sets New 52-Week Low – What’s Next?

Shares of Bicycle Therapeutics plc (NASDAQ:BCYC) hit a new 52-week low during mid-day trading on Monday . The company traded as low as $8.25 and last traded at $8.64, with a volume of 418 shares changing hands. The stock had previously closed at $8.97.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on BCYC shares. B. Riley reduced their price target on Bicycle Therapeutics from $28.00 to $17.00 and set a “neutral” rating for the company in a report on Friday, December 13th. HC Wainwright reiterated a “buy” rating and set a $33.00 target price on shares of Bicycle Therapeutics in a research note on Wednesday, February 26th. Stephens restated an “equal weight” rating and issued a $15.00 price target on shares of Bicycle Therapeutics in a research note on Wednesday, January 22nd. JMP Securities reduced their price objective on shares of Bicycle Therapeutics from $32.00 to $26.00 and set a “market outperform” rating for the company in a research report on Wednesday, December 18th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $30.00 price objective on shares of Bicycle Therapeutics in a report on Tuesday, March 11th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Bicycle Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $29.14.

Bicycle Therapeutics Trading Down 7.5 %

The stock has a market cap of $543.24 million, a P/E ratio of -2.39 and a beta of 1.12. The firm has a 50-day simple moving average of $11.23 and a two-hundred day simple moving average of $17.32.

Bicycle Therapeutics (NASDAQ:BCYC) last released its quarterly 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. The business had revenue of $3.70 million for the quarter, compared to analyst estimates of $5.47 million. Bicycle Therapeutics had a negative net margin of 450.64% and a negative return on equity of 27.35%. Bicycle Therapeutics’s revenue for the quarter was down 30.2% compared to the same quarter last year. During the same period last year, the firm earned ($1.16) earnings per share. Sell-side analysts predict that Bicycle Therapeutics plc will post -3.06 earnings per share for the current year.

Insider Activity

In other Bicycle Therapeutics news, CEO Kevin Lee sold 9,038 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $14.09, for a total value of $127,345.42. Following the transaction, the chief executive officer now directly owns 495,026 shares of the company’s stock, valued at $6,974,916.34. This trade represents a 1.79 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Travis Alvin Thompson sold 2,686 shares of the business’s 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 completion of the transaction, the chief accounting officer now owns 32,146 shares of the company’s stock, valued at $482,190. The trade was a 7.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 27,677 shares of company stock worth $392,413. Corporate insiders own 8.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in BCYC. JPMorgan Chase & Co. boosted its holdings in shares of Bicycle Therapeutics by 26.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 8,424 shares of the company’s stock valued at $191,000 after purchasing an additional 1,782 shares in the last quarter. China Universal Asset Management Co. Ltd. raised 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 buying an additional 2,191 shares in the last quarter. Barclays PLC lifted its position 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 buying an additional 2,345 shares during the last quarter. Jane Street Group LLC boosted its stake in Bicycle Therapeutics by 18.9% in the fourth quarter. Jane Street Group LLC now owns 23,991 shares of the company’s stock valued at $336,000 after buying an additional 3,811 shares in the last quarter. Finally, Avior Wealth Management LLC bought a new position in Bicycle Therapeutics in the fourth quarter valued at about $57,000. 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.