Bicycle Therapeutics (NASDAQ:BCYC) Shares Down 2.6% – Here’s What Happened

Bicycle Therapeutics PLC Sponsored ADR (NASDAQ:BCYC) shares were down 2.6% during trading on Tuesday . The company traded as low as $5.61 and last traded at $5.63. Approximately 324,474 shares traded hands during trading, a decline of 11% from the average daily volume of 363,180 shares. The stock had previously closed at $5.78.

Analysts Set New Price Targets

A number of equities analysts have recently commented on BCYC shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Bicycle Therapeutics in a report on Monday, December 22nd. Royal Bank Of Canada restated a “sector perform” rating and issued a $11.00 price objective (down from $27.00) on shares of Bicycle Therapeutics in a report on Friday, October 31st. Truist Financial began coverage on Bicycle Therapeutics in a research note on Monday, November 24th. They issued a “hold” rating and a $10.00 target price for the company. JMP Securities set a $12.00 price target on Bicycle Therapeutics in a research report on Friday, October 31st. Finally, Citizens Jmp raised their price target on shares of Bicycle Therapeutics from $10.00 to $12.00 and gave the stock a “market outperform” rating in a report on Friday, October 31st. Seven investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $20.20.

Bicycle Therapeutics Price Performance

The stock has a market capitalization of $390.55 million, a P/E ratio of -1.56 and a beta of 1.63. The business’s 50 day moving average price is $6.74 and its 200 day moving average price is $7.19.

Insider Buying and Selling

In other news, CFO Alethia Young sold 4,334 shares of the company’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $6.49, for a total value of $28,127.66. Following the completion of the sale, the chief financial officer directly owned 87,081 shares in the company, valued at $565,155.69. This represents a 4.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Kevin Lee sold 10,989 shares of Bicycle Therapeutics stock in a transaction on Monday, January 5th. The shares were sold at an average price of $6.46, for a total value of $70,988.94. Following the transaction, the chief executive officer owned 618,996 shares in the company, valued at $3,998,714.16. This trade represents a 1.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 38,029 shares of company stock valued at $251,966. 8.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in BCYC. Millennium Management LLC grew its holdings in shares of Bicycle Therapeutics by 156.5% in the first quarter. Millennium Management LLC now owns 453,428 shares of the company’s stock valued at $3,850,000 after purchasing an additional 276,671 shares in the last quarter. Goldman Sachs Group Inc. bought a new position in Bicycle Therapeutics during the first quarter valued at $214,000. Woodline Partners LP bought a new position in Bicycle Therapeutics during the 1st quarter valued at about $3,088,000. Janney Montgomery Scott LLC bought a new position in shares of Bicycle Therapeutics during the second quarter valued at approximately $697,000. Finally, Tybourne Capital Management HK Ltd. increased its stake in Bicycle Therapeutics by 72.4% in the second quarter. Tybourne Capital Management HK Ltd. now owns 993,743 shares of the company’s stock worth $6,907,000 after purchasing an additional 417,400 shares during the period. Institutional investors own 86.15% of the company’s stock.

Bicycle Therapeutics Company Profile

Bicycle Therapeutics plc is a clinical-stage biotechnology company specializing in the discovery and development of novel peptide therapeutics based on its proprietary bicyclic peptide platform. The company’s core technology leverages constrained peptide structures that combine the binding specificity of biologics with the favorable tissue-penetration properties of small molecules. This approach is designed to generate highly selective drug candidates with potential applications across a range of therapeutic areas, including oncology, neuroscience and immunology.

Bicycle Therapeutics maintains a diversified pipeline of internally developed programs as well as collaborations with leading pharmaceutical partners.