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

Bicycle Therapeutics plc (NASDAQ:BCYC)’s share price reached a new 52-week low during trading on Monday . The stock traded as low as $8.25 and last traded at $8.64, with a volume of 418 shares traded. The stock had previously closed at $8.97.

Analysts Set New Price Targets

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

Bicycle Therapeutics Trading Down 7.5 %

The company has a market capitalization of $543.24 million, a price-to-earnings ratio of -2.39 and a beta of 1.12. The company has a 50 day moving average price of $11.23 and a 200 day moving average price of $17.32.

Bicycle Therapeutics (NASDAQ:BCYC) last released its earnings results on Tuesday, February 25th. The company reported ($0.75) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.85) by $0.10. The company 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 was down 30.2% compared to the same quarter last year. During the same period in the prior year, the company posted ($1.16) EPS. Equities analysts predict that Bicycle Therapeutics plc will post -3.06 earnings per share for the current year.

Insider Buying and Selling at Bicycle Therapeutics

In other news, CAO Travis Alvin Thompson sold 2,686 shares of Bicycle Therapeutics stock in a transaction 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 transaction, the chief accounting officer now directly owns 32,146 shares of the company’s stock, valued at $482,190. This trade represents a 7.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Santiago Arroyo sold 4,943 shares of Bicycle Therapeutics stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $14.09, for a total transaction of $69,646.87. Following the completion of the transaction, the insider now directly owns 69,057 shares in the company, valued at approximately $973,013.13. The trade was a 6.68 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 27,677 shares of company stock worth $392,413. 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 the business. JPMorgan Chase & Co. grew 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 acquiring an additional 1,782 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its position 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 purchasing an additional 2,191 shares during the last quarter. Barclays PLC increased 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 purchasing an additional 2,345 shares during the last quarter. Jane Street Group LLC raised its stake in shares of Bicycle Therapeutics by 18.9% during the 4th quarter. Jane Street Group LLC now owns 23,991 shares of the company’s stock worth $336,000 after purchasing an additional 3,811 shares in the last quarter. Finally, Avior Wealth Management LLC acquired a new stake in shares of Bicycle Therapeutics in the 4th quarter valued at approximately $57,000. 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.