Bicycle Therapeutics (NASDAQ:BCYC) Sets New 52-Week Low - Should You Sell?

Bicycle Therapeutics plc (NASDAQ:BCYC - Get Free Report) hit a new 52-week low during mid-day trading on Monday . The company traded as low as $9.41 and last traded at $9.89, with a volume of 629111 shares. The stock had previously closed at $9.63.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. JMP Securities lowered their price objective on 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. B. Riley lowered 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 issued a $33.00 price target on shares of Bicycle Therapeutics in a research note on Wednesday, February 26th. Stephens restated an "equal weight" rating and set a $15.00 price objective on shares of Bicycle Therapeutics in a research report on Wednesday, January 22nd. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $30.00 target price on shares of Bicycle Therapeutics in a research report on Tuesday, March 11th. Two investment 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 company has a consensus rating of "Moderate Buy" and a consensus target price of $29.14.

Bicycle Therapeutics Trading Down 4.3 %

The business's fifty day moving average price is $11.94 and its 200 day moving average price is $18.11. The firm has a market capitalization of $628.35 million, a price-to-earnings ratio of -2.76 and a beta of 1.12.

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

Insider Activity at Bicycle Therapeutics

In other news, insider Santiago Arroyo sold 4,943 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 $69,646.87. Following the transaction, the insider now owns 69,057 shares of the company's stock, valued at approximately $973,013.13. The trade was a 6.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Alistair Milnes sold 4,578 shares of the company'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 $64,504.02. Following the sale, the chief operating officer now owns 100,724 shares of the company's stock, valued at $1,419,201.16. This trade represents a 4.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 27,677 shares of company stock worth $392,413 in the last quarter. Company insiders own 8.50% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. FMR LLC acquired a new stake in Bicycle Therapeutics in the 3rd quarter valued at about $3,406,000. The Manufacturers Life Insurance Company grew its position in shares of Bicycle Therapeutics by 33.2% in the third quarter. The Manufacturers Life Insurance Company now owns 129,705 shares of the company's stock valued at $2,935,000 after purchasing an additional 32,313 shares during the last quarter. Principal Financial Group Inc. purchased a new position in shares of Bicycle Therapeutics during the 3rd quarter worth approximately $10,028,000. State Street Corp increased its stake in shares of Bicycle Therapeutics by 233.5% during the 3rd 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 in the last quarter. Finally, Jane Street Group LLC raised its position in shares of 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 purchasing an additional 5,310 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.