Bicycle Therapeutics (NASDAQ:BCYC) Trading Down 3.9% - Here's What Happened

Bicycle Therapeutics plc (NASDAQ:BCYC - Get Free Report) was down 3.9% on Thursday . The stock traded as low as $13.98 and last traded at $13.98. Approximately 12,438 shares changed hands during mid-day trading, a decline of 96% from the average daily volume of 352,924 shares. The stock had previously closed at $14.55.

Analyst Upgrades and Downgrades

BCYC has been the topic of a number of recent research reports. HC Wainwright reaffirmed a "buy" rating and issued a $33.00 target price on shares of Bicycle Therapeutics in a research report on Monday. Royal Bank of Canada reaffirmed an "outperform" rating and set a $35.00 price target on shares of Bicycle Therapeutics in a research report on Friday, November 1st. Needham & Company LLC reissued a "buy" rating and issued a $32.00 price objective on shares of Bicycle Therapeutics in a report on Monday. B. Riley decreased 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 note on Friday, December 13th. Finally, JMP Securities dropped their price target on shares of 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 equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $34.50.

Bicycle Therapeutics Trading Down 1.8 %

The stock's 50-day simple moving average is $17.54 and its 200-day simple moving average is $21.46. The stock has a market cap of $921.13 million, a price-to-earnings ratio of -4.05 and a beta of 0.92.

Bicycle Therapeutics (NASDAQ:BCYC - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The company reported ($0.74) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.78) by $0.04. The business had revenue of $2.68 million for the quarter, compared to the consensus estimate of $6.82 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 50.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($1.26) earnings per share. On average, equities research analysts forecast that Bicycle Therapeutics plc will post -3.05 earnings per share for the current year.

Insider Buying and Selling

In other Bicycle Therapeutics news, CEO Kevin Lee sold 9,038 shares of Bicycle Therapeutics 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 transaction, the chief executive officer now owns 495,026 shares in the company, valued at $6,974,916.34. The trade was a 1.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Travis Alvin Thompson sold 6,256 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $25.11, for a total transaction of $157,088.16. Following the completion of the transaction, the chief accounting officer now directly owns 19,241 shares of the company's stock, valued at $483,141.51. This trade represents a 24.54 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,933 shares of company stock worth $549,501. Company insiders own 8.50% of the company's stock.

Hedge Funds Weigh In On Bicycle Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. FMR LLC acquired a new position in shares of Bicycle Therapeutics during the third quarter worth $3,406,000. The Manufacturers Life Insurance Company grew its position in Bicycle Therapeutics by 33.2% during the 3rd 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 last quarter. Principal Financial Group Inc. acquired a new position in Bicycle Therapeutics in the 3rd quarter worth about $10,028,000. State Street Corp raised its position in Bicycle Therapeutics by 233.5% in the third quarter. State Street Corp now owns 86,271 shares of the company's stock valued at $1,952,000 after purchasing an additional 60,399 shares during the last quarter. Finally, Perceptive Advisors LLC bought a new stake in shares of Bicycle Therapeutics during the second quarter worth about $11,577,000. Institutional investors 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.