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 firm’s stock in a transaction on 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 owns 495,026 shares in the company, valued at approximately $6,974,916.34. This represents a 1.79 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Bicycle Therapeutics Price Performance

Bicycle Therapeutics stock opened at $14.17 on Thursday. Bicycle Therapeutics plc has a 1-year low of $12.17 and a 1-year high of $28.67. The business has a fifty day moving average price of $19.09 and a 200-day moving average price of $21.82. The stock has a market capitalization of $978.38 million, a price-to-earnings ratio of -4.31 and a beta of 0.92.

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

Analysts Set New Price Targets

BCYC has been the topic of a number of research reports. HC Wainwright cut their target price on shares of Bicycle Therapeutics from $55.00 to $33.00 and set a “buy” rating on the stock in a research report on Monday, December 16th. Royal Bank of Canada reissued an “outperform” rating and set a $35.00 price objective on shares of Bicycle Therapeutics in a report on Friday, November 1st. B. Riley lowered their target price on Bicycle Therapeutics from $28.00 to $17.00 and set a “neutral” rating for the company in a report on Friday, December 13th. Stephens started coverage on Bicycle Therapeutics in a report on Friday, November 8th. They issued an “equal weight” rating and a $25.00 price target on the stock. Finally, Needham & Company LLC restated a “buy” rating and set a $38.00 price objective on shares of Bicycle Therapeutics in a research note on Thursday, October 31st. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Bicycle Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $35.25.

Institutional Trading of Bicycle Therapeutics

Several large investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. lifted its stake in shares of Bicycle Therapeutics by 26.8% during the third quarter. JPMorgan Chase & Co. now owns 8,424 shares of the company’s stock worth $191,000 after buying an additional 1,782 shares during the period. Principal Financial Group Inc. purchased a new position in Bicycle Therapeutics in the 3rd quarter worth $10,028,000. Geode Capital Management LLC raised its stake in Bicycle Therapeutics by 79.3% in the 3rd quarter. Geode Capital Management LLC now owns 38,335 shares of the company’s stock worth $868,000 after acquiring an additional 16,958 shares during the last quarter. Jane Street Group LLC lifted its position in Bicycle Therapeutics by 35.7% during the 3rd quarter. Jane Street Group LLC now owns 20,180 shares of the company’s stock worth $457,000 after acquiring an additional 5,310 shares during the period. Finally, State Street Corp grew its stake in Bicycle Therapeutics by 233.5% during the 3rd quarter. State Street Corp now owns 86,271 shares of the company’s stock valued at $1,952,000 after purchasing an additional 60,399 shares during the last quarter. 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.