Bicycle Therapeutics (NASDAQ:BCYC) Hits New 12-Month Low - Here's Why

Shares of Bicycle Therapeutics plc (NASDAQ:BCYC - Get Free Report) reached a new 52-week low on Monday . The stock traded as low as $8.96 and last traded at $8.96, with a volume of 158660 shares traded. The stock had previously closed at $9.08.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. JMP Securities reduced their target price on shares of 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 decreased their target price on shares of Bicycle Therapeutics from $28.00 to $17.00 and set a "neutral" rating on the stock in a research report on Friday, December 13th. Needham & Company LLC reaffirmed a "buy" rating and set a $30.00 target price on shares of Bicycle Therapeutics in a report on Tuesday, March 11th. Stephens reiterated an "equal weight" rating and issued a $15.00 price target on shares of Bicycle Therapeutics in a research note on Wednesday, January 22nd. Finally, HC Wainwright restated a "buy" rating and set a $33.00 price objective on shares of Bicycle Therapeutics in a research note on Wednesday, February 26th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $29.14.

Bicycle Therapeutics Stock Down 0.9 %

The firm has a 50 day simple moving average of $11.41 and a two-hundred day simple moving average of $17.71. The stock has a market capitalization of $630.29 million, a P/E ratio of -2.76 and a beta of 1.12.

Bicycle Therapeutics (NASDAQ:BCYC - Get Free Report) last released its quarterly earnings data on Tuesday, February 25th. The company reported ($0.75) earnings per share 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 analyst estimates of $5.47 million. Bicycle Therapeutics had a negative return on equity of 27.35% and a negative net margin of 450.64%. Bicycle Therapeutics's revenue was down 30.2% compared to the same quarter last year. During the same period last year, the firm posted ($1.16) earnings per share. On average, research analysts predict that Bicycle Therapeutics plc will post -3.06 earnings per share for the current year.

Insider Activity at Bicycle Therapeutics

In related news, COO Alistair Milnes sold 4,578 shares of the business's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $14.09, for a total transaction of $64,504.02. Following the sale, the chief operating officer now owns 100,724 shares in the company, valued at $1,419,201.16. The trade was a 4.35 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Kevin Lee sold 9,038 shares of the company's stock in a transaction dated 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 of the company's stock, valued at approximately $6,974,916.34. The trade was a 1.79 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,677 shares of company stock valued at $392,413. 8.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Bicycle Therapeutics

Several hedge funds have recently added to or reduced their stakes in the business. Barclays PLC raised its stake in shares of Bicycle Therapeutics by 878.3% during the fourth quarter. Barclays PLC now owns 2,612 shares of the company's stock valued at $37,000 after acquiring an additional 2,345 shares during the last quarter. Avior Wealth Management LLC bought a new position in Bicycle Therapeutics during the 4th quarter worth $57,000. JPMorgan Chase & Co. lifted 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 worth $191,000 after buying an additional 1,782 shares during the period. China Universal Asset Management Co. Ltd. grew its position in shares of Bicycle Therapeutics by 30.7% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 9,329 shares of the company's stock valued at $131,000 after buying an additional 2,191 shares during the last quarter. Finally, Erste Asset Management GmbH bought a new stake in shares of Bicycle Therapeutics in the 3rd quarter valued at about $325,000. 86.15% of the stock is currently owned by institutional investors and hedge funds.

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.