Bicycle Therapeutics plc (NASDAQ:BCYC) CEO Sells $127,345.42 in Stock

Bicycle Therapeutics plc (NASDAQ:BCYC) CEO Kevin Lee sold 9,038 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $14.09, for a total value of $127,345.42. Following the completion of the transaction, the chief executive officer now directly owns 495,026 shares in the company, valued at approximately $6,974,916.34. This represents a 1.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Bicycle Therapeutics Stock Performance

NASDAQ:BCYC opened at $14.17 on Thursday. The firm has a market capitalization of $978.38 million, a PE ratio of -4.31 and a beta of 0.92. The stock’s fifty day moving average is $19.09 and its 200 day moving average is $21.82. Bicycle Therapeutics plc has a fifty-two week low of $12.17 and a fifty-two week high of $28.67.

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. boosted its holdings in Bicycle Therapeutics by 26.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 8,424 shares of the company’s stock valued at $191,000 after acquiring an additional 1,782 shares during the period. Principal Financial Group Inc. purchased a new stake in shares of Bicycle Therapeutics during the third quarter valued at $10,028,000. Geode Capital Management LLC grew its holdings in shares of Bicycle Therapeutics by 79.3% in the third quarter. Geode Capital Management LLC now owns 38,335 shares of the company’s stock worth $868,000 after purchasing an additional 16,958 shares during the last quarter. Jane Street Group LLC grew its holdings 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 worth $457,000 after purchasing an additional 5,310 shares during the last quarter. Finally, State Street Corp increased its stake in Bicycle Therapeutics by 233.5% in the 3rd quarter. State Street Corp now owns 86,271 shares of the company’s stock worth $1,952,000 after buying an additional 60,399 shares during the period. Institutional investors own 86.15% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on BCYC shares. Needham & Company LLC reissued a “buy” rating and issued a $38.00 target price on shares of Bicycle Therapeutics in a report on Thursday, October 31st. B. Riley decreased their price target 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. Royal Bank of Canada reiterated an “outperform” rating and issued a $35.00 target price on shares of Bicycle Therapeutics in a research report on Friday, November 1st. JMP Securities cut 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. Finally, HC Wainwright reduced their price objective on Bicycle Therapeutics from $55.00 to $33.00 and set a “buy” rating on the stock in a research note on Monday, December 16th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $35.25.

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.