Bicycle Therapeutics (NASDAQ:BCYC) Hits New 12-Month Low - What's Next?

Bicycle Therapeutics plc (NASDAQ:BCYC - Get Free Report)'s stock price hit a new 52-week low on Tuesday . The company traded as low as $11.12 and last traded at $11.37, with a volume of 30293 shares trading hands. The stock had previously closed at $11.25.

Analyst Ratings Changes

A number of analysts have weighed in on BCYC shares. JMP Securities lowered 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. Stephens restated an "equal weight" rating and set a $15.00 target price on shares of Bicycle Therapeutics in a report on Wednesday, January 22nd. Needham & Company LLC restated a "buy" rating and set a $30.00 target price on shares of Bicycle Therapeutics in a report on Wednesday. Royal Bank of Canada restated an "outperform" rating and set a $35.00 target price on shares of Bicycle Therapeutics in a report on Friday, November 1st. Finally, HC Wainwright restated a "buy" rating and set a $33.00 target price on shares of Bicycle Therapeutics in a report on Wednesday. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $29.14.

Bicycle Therapeutics Stock Down 0.5 %

The firm has a fifty day moving average of $13.27 and a 200-day moving average of $19.40. The firm has a market cap of $757.43 million, a P/E ratio of -3.33 and a beta of 0.93.

Bicycle Therapeutics (NASDAQ:BCYC - Get Free Report) last posted its quarterly earnings results on Tuesday, February 25th. The company reported ($0.75) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.85) by $0.10. The business had revenue of $3.70 million for the quarter, compared to analysts' expectations of $5.47 million. Bicycle Therapeutics had a negative return on equity of 27.35% and a negative net margin of 450.64%. The firm's quarterly revenue was down 30.2% compared to the same quarter last year. During the same quarter last year, the business earned ($1.16) earnings per share. Sell-side analysts anticipate that Bicycle Therapeutics plc will post -3.06 EPS for the current year.

Insider Activity at Bicycle Therapeutics

In related news, Director Bros. Advisors Lp Baker bought 985,397 shares of the business's stock in a transaction on Friday, December 13th. The shares were purchased at an average price of $13.76 per share, with a total value of $13,559,062.72. Following the completion of the purchase, the director now owns 9,537,643 shares of the company's stock, valued at $131,237,967.68. This represents a 11.52 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Travis Alvin Thompson sold 2,686 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $15.00, for a total value of $40,290.00. Following the completion of the transaction, the chief accounting officer now directly owns 32,146 shares in the company, valued at $482,190. The trade was a 7.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 27,677 shares of company stock worth $392,413 over the last 90 days. Insiders own 8.50% of the company's stock.

Hedge Funds Weigh In On Bicycle Therapeutics

Several hedge funds have recently added to or reduced their stakes in BCYC. FMR LLC acquired a new stake in shares of Bicycle Therapeutics during the third quarter worth about $3,406,000. The Manufacturers Life Insurance Company raised its position in shares of Bicycle Therapeutics by 33.2% during the third quarter. The Manufacturers Life Insurance Company now owns 129,705 shares of the company's stock worth $2,935,000 after purchasing an additional 32,313 shares during the period. Principal Financial Group Inc. acquired a new stake in shares of Bicycle Therapeutics during the third quarter worth about $10,028,000. State Street Corp raised its position in shares of Bicycle Therapeutics by 233.5% during the third quarter. State Street Corp now owns 86,271 shares of the company's stock worth $1,952,000 after purchasing an additional 60,399 shares during the period. Finally, Jane Street Group LLC raised its position in shares of Bicycle Therapeutics by 35.7% during 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 period. Institutional investors and hedge funds own 86.15% of the company's stock.

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.