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

Bicycle Therapeutics plc (NASDAQ:BCYC) reached a new 52-week low on Tuesday . The company traded as low as $11.12 and last traded at $11.37, with a volume of 30293 shares traded. The stock had previously closed at $11.25.

Wall Street Analyst Weigh In

Several research analysts have weighed in on BCYC shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $35.00 target price on shares of Bicycle Therapeutics in a research report on Friday, November 1st. 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 note on Wednesday, December 18th. B. Riley cut their target price on Bicycle Therapeutics from $28.00 to $17.00 and set a “neutral” rating on the stock in a report on Friday, December 13th. Needham & Company LLC reaffirmed a “buy” rating and set a $32.00 price objective on shares of Bicycle Therapeutics in a report on Monday, January 13th. 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 presently has an average rating of “Moderate Buy” and an average target price of $29.43.

Bicycle Therapeutics Price Performance

The firm has a 50 day moving average of $13.51 and a 200-day moving average of $19.60. The stock has a market capitalization of $778.54 million, a P/E ratio of -3.43 and a beta of 0.93.

Insider Activity

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

Hedge Funds Weigh In On Bicycle Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Assetmark Inc. bought a new position in shares of Bicycle Therapeutics during the third quarter worth $34,000. Barclays PLC grew its holdings in shares of Bicycle Therapeutics by 878.3% during the fourth quarter. Barclays PLC now owns 2,612 shares of the company’s stock worth $37,000 after buying an additional 2,345 shares in the last quarter. Avior Wealth Management LLC bought a new position in shares of Bicycle Therapeutics during the 4th quarter worth approximately $57,000. China Universal Asset Management Co. Ltd. raised its holdings in shares of Bicycle Therapeutics by 69.1% in the third quarter. China Universal Asset Management Co. Ltd. now owns 7,138 shares of the company’s stock valued at $162,000 after purchasing an additional 2,918 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of Bicycle Therapeutics by 26.8% in the third quarter. JPMorgan Chase & Co. now owns 8,424 shares of the company’s stock worth $191,000 after purchasing an additional 1,782 shares in the last quarter. 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.