Insider Selling: Bicycle Therapeutics plc (NASDAQ:BCYC) CTO Sells $21,636.72 in Stock

by · The Markets Daily

Bicycle Therapeutics plc (NASDAQ:BCYC – Get Free Report) CTO Michael Skynner sold 972 shares of the business’s stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $22.26, for a total transaction of $21,636.72. Following the transaction, the chief technology officer now owns 92,945 shares in the company, valued at approximately $2,068,955.70. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Bicycle Therapeutics Price Performance

Bicycle Therapeutics stock opened at $23.60 on Monday. The firm has a fifty day moving average of $23.36 and a 200-day moving average of $22.90. Bicycle Therapeutics plc has a 52-week low of $12.54 and a 52-week high of $28.20. The company has a quick ratio of 14.77, a current ratio of 14.77 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $1.01 billion, a P/E ratio of -5.30 and a beta of 0.89.

Bicycle Therapeutics (NASDAQ:BCYC – Get Free Report) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.77) EPS for the quarter, topping analysts’ consensus estimates of ($1.10) by $0.33. Bicycle Therapeutics had a negative return on equity of 32.80% and a negative net margin of 417.88%. The company had revenue of $9.36 million for the quarter, compared to analysts’ expectations of $6.13 million. The company’s quarterly revenue was down 17.9% on a year-over-year basis. As a group, analysts predict that Bicycle Therapeutics plc will post -3.17 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have issued reports on BCYC shares. Oppenheimer reiterated an “outperform” rating and set a $48.00 target price on shares of Bicycle Therapeutics in a research report on Wednesday, August 7th. Cantor Fitzgerald reissued an “overweight” rating on shares of Bicycle Therapeutics in a report on Monday, September 9th. B. Riley cut shares of Bicycle Therapeutics from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $33.00 to $28.00 in a research note on Wednesday, August 7th. Needham & Company LLC restated a “buy” rating and set a $38.00 target price on shares of Bicycle Therapeutics in a research report on Monday, September 16th. Finally, Royal Bank of Canada assumed coverage on Bicycle Therapeutics in a report on Friday, September 6th. They set an “outperform” rating and a $35.00 price objective for the company. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $44.56.

View Our Latest Analysis on BCYC

Institutional Trading of Bicycle Therapeutics

Hedge funds have recently made changes to their positions in the company. Handelsbanken Fonder AB increased its stake in Bicycle Therapeutics by 2.4% during the 3rd quarter. Handelsbanken Fonder AB now owns 218,700 shares of the company’s stock worth $4,949,000 after buying an additional 5,200 shares during the period. Perceptive Advisors LLC bought a new stake in shares of Bicycle Therapeutics in the second quarter worth $11,577,000. The Manufacturers Life Insurance Company raised its holdings in Bicycle Therapeutics by 275.2% in the second quarter. The Manufacturers Life Insurance Company now owns 97,392 shares of the company’s stock valued at $1,971,000 after acquiring an additional 71,434 shares in the last quarter. Armistice Capital LLC boosted its stake in Bicycle Therapeutics by 17.9% during the 2nd quarter. Armistice Capital LLC now owns 1,972,000 shares of the company’s stock valued at $39,913,000 after acquiring an additional 300,000 shares during the last quarter. Finally, Cubist Systematic Strategies LLC increased its position in shares of Bicycle Therapeutics by 923.5% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 96,409 shares of the company’s stock worth $1,951,000 after purchasing an additional 86,989 shares during the last quarter. Hedge funds and other institutional investors own 86.15% of the company’s stock.

Bicycle Therapeutics Company Profile

(Get Free Report)

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.

Read More