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

Bicycle Therapeutics plc (NASDAQ:BCYC - Get Free Report)'s share price hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $10.80 and last traded at $10.83, with a volume of 5024 shares. The stock had previously closed at $10.97.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on BCYC shares. B. Riley reduced their price target on shares of 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 reissued a "buy" rating and issued a $33.00 price target on shares of Bicycle Therapeutics in a research report on Wednesday, February 26th. JMP Securities dropped their price objective 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. Needham & Company LLC reiterated a "buy" rating and issued a $30.00 target price on shares of Bicycle Therapeutics in a report on Wednesday, February 26th. Finally, Stephens reissued an "equal weight" rating and set a $15.00 target price on shares of Bicycle Therapeutics in a research report on Wednesday, January 22nd. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $29.14.

Bicycle Therapeutics Price Performance

The company's fifty day moving average price is $13.11 and its 200-day moving average price is $19.19. The stock has a market cap of $700.13 million, a price-to-earnings ratio of -3.08 and a beta of 0.93.

Bicycle Therapeutics (NASDAQ:BCYC - Get Free Report) last issued its quarterly 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. Bicycle Therapeutics had a negative net margin of 450.64% and a negative return on equity of 27.35%. The business had revenue of $3.70 million for the quarter, compared to analyst estimates of $5.47 million. During the same quarter in the prior year, the business posted ($1.16) EPS. Bicycle Therapeutics's revenue for the quarter was down 30.2% compared to the same quarter last year. On average, sell-side analysts forecast that Bicycle Therapeutics plc will post -3.06 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Institutional Investors Weigh In On Bicycle Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. FMR LLC purchased a new position in shares of Bicycle Therapeutics during the 3rd quarter valued at about $3,406,000. The Manufacturers Life Insurance Company grew its holdings in 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 acquiring an additional 32,313 shares during the period. Principal Financial Group Inc. acquired a new stake in Bicycle Therapeutics during the third quarter worth about $10,028,000. State Street Corp raised its position in Bicycle Therapeutics by 233.5% during the third quarter. State Street Corp now owns 86,271 shares of the company's stock valued at $1,952,000 after acquiring an additional 60,399 shares in the last quarter. Finally, Jane Street Group LLC lifted its holdings in Bicycle Therapeutics by 35.7% in the third quarter. Jane Street Group LLC now owns 20,180 shares of the company's stock valued at $457,000 after acquiring an additional 5,310 shares during the period. 86.15% of the stock is owned by hedge funds and other institutional investors.

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.