Bicycle Therapeutics (NASDAQ:BCYC) Trading Down 10%

Bicycle Therapeutics plc (NASDAQ:BCYC)’s share price dropped 10% on Monday . The company traded as low as $22.56 and last traded at $22.75. Approximately 47,228 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 332,757 shares. The stock had previously closed at $25.29.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on BCYC shares. Needham & Company LLC reiterated a “buy” rating and issued a $43.00 price objective on shares of Bicycle Therapeutics in a research note on Wednesday, April 10th. HC Wainwright reaffirmed a “buy” rating and set a $55.00 price objective on shares of Bicycle Therapeutics in a research report on Friday, May 3rd. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $46.86.

Bicycle Therapeutics Price Performance

The company has a debt-to-equity ratio of 0.09, a quick ratio of 10.42 and a current ratio of 10.42. The firm has a market cap of $971.53 million, a PE ratio of -5.10 and a beta of 0.94. The stock’s fifty day moving average price is $22.28 and its 200-day moving average price is $22.34.

Bicycle Therapeutics (NASDAQ:BCYC) last posted its earnings results on Thursday, May 2nd. The company reported ($0.62) EPS for the quarter, topping analysts’ consensus estimates of ($1.25) by $0.63. Bicycle Therapeutics had a negative net margin of 404.14% and a negative return on equity of 49.35%. The business had revenue of $19.53 million for the quarter, compared to analysts’ expectations of $6.06 million. Bicycle Therapeutics’s revenue was up 298.9% on a year-over-year basis. As a group, equities analysts forecast that Bicycle Therapeutics plc will post -4.44 EPS for the current fiscal year.

Insider Activity at Bicycle Therapeutics

In other Bicycle Therapeutics news, CEO Kevin Lee sold 3,194 shares of the company’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $19.64, for a total transaction of $62,730.16. Following the completion of the sale, the chief executive officer now owns 384,076 shares of the company’s stock, valued at $7,543,252.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 4,555 shares of company stock valued at $89,460 over the last ninety days. Insiders own 8.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. China Universal Asset Management Co. Ltd. boosted its holdings in shares of Bicycle Therapeutics by 71.4% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 6,859 shares of the company’s stock valued at $171,000 after buying an additional 2,858 shares during the last quarter. Woodstock Corp lifted its holdings in shares of Bicycle Therapeutics by 16.3% in the first quarter. Woodstock Corp now owns 24,981 shares of the company’s stock worth $622,000 after acquiring an additional 3,502 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in Bicycle Therapeutics by 0.6% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 888,081 shares of the company’s stock valued at $17,975,000 after buying an additional 4,976 shares in the last quarter. Handelsbanken Fonder AB boosted its stake in shares of Bicycle Therapeutics by 3.9% during the fourth quarter. Handelsbanken Fonder AB now owns 139,800 shares of the company’s stock valued at $2,528,000 after purchasing an additional 5,300 shares in the last quarter. Finally, PNC Financial Services Group Inc. acquired a new position in Bicycle Therapeutics in the 4th quarter valued at approximately $137,000. 86.15% of the stock is currently owned by 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.