Bicycle Therapeutics (NASDAQ:BCYC) CEO Kevin Lee Sells 3,231 Shares

Key Points

• Bicycle Therapeutics CEO Kevin Lee sold 3,231 shares of the company's stock at an average price of $8.41, reducing his total holdings to 475,310 shares.
• The company's recent earnings report showed a net loss per share of ($1.14), missing estimates significantly, with revenue also falling short at $2.90 million compared to a $9.43 million consensus estimate.
• Multiple analysts have revised their price targets for Bicycle Therapeutics, with Morgan Stanley lowering it from $17.00 to $13.00, while the consensus rating remains a "Moderate Buy" with a target price of $22.22.

Bicycle Therapeutics PLC Sponsored ADR (NASDAQ:BCYC - Get Free Report) CEO Kevin Lee sold 3,231 shares of the business's stock in a transaction on Friday, October 3rd. The stock was sold at an average price of $8.41, for a total value of $27,172.71. Following the completion of the transaction, the chief executive officer owned 475,310 shares of the company's stock, valued at $3,997,357.10. This represents a 0.68% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Kevin Lee also recently made the following trade(s):

• On Thursday, October 2nd, Kevin Lee sold 2,263 shares of Bicycle Therapeutics stock. The shares were sold at an average price of $8.40, for a total transaction of $19,009.20.

Bicycle Therapeutics Stock Performance

BCYC traded down $0.14 during trading on Monday, reaching $8.23. 260,910 shares of the company traded hands, compared to its average volume of 312,837. Bicycle Therapeutics PLC Sponsored ADR has a 12-month low of $6.10 and a 12-month high of $28.67. The firm has a fifty day simple moving average of $7.44 and a 200 day simple moving average of $7.80. The company has a market cap of $570.42 million, a P/E ratio of -2.34 and a beta of 1.47.

Bicycle Therapeutics (NASDAQ:BCYC - Get Free Report) last announced its quarterly earnings results on Friday, August 8th. The company reported ($1.14) EPS for the quarter, missing analysts' consensus estimates of ($0.95) by ($0.19). Bicycle Therapeutics had a negative net margin of 1,257.00% and a negative return on equity of 32.43%. The business had revenue of $2.90 million during the quarter, compared to the consensus estimate of $9.43 million. As a group, sell-side analysts expect that Bicycle Therapeutics PLC Sponsored ADR will post -3.06 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on BCYC shares. Morgan Stanley dropped their price target on Bicycle Therapeutics from $17.00 to $13.00 and set an "equal weight" rating on the stock in a research note on Tuesday, August 12th. Oppenheimer reiterated an "outperform" rating and set a $44.00 price objective (down from $48.00) on shares of Bicycle Therapeutics in a research note on Monday, August 11th. JMP Securities cut their price objective on shares of Bicycle Therapeutics from $22.00 to $10.00 and set a "market outperform" rating for the company in a report on Tuesday, August 12th. Royal Bank Of Canada set a $27.00 target price on Bicycle Therapeutics and gave the stock an "outperform" rating in a research note on Monday, August 11th. Finally, Weiss Ratings restated a "sell (e+)" rating on shares of Bicycle Therapeutics in a report on Saturday, September 27th. Six research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $22.22.

Institutional Trading of Bicycle Therapeutics

A number of hedge funds have recently modified their holdings of the business. Armistice Capital LLC lifted its holdings in shares of Bicycle Therapeutics by 4.8% in the second quarter. Armistice Capital LLC now owns 2,800,000 shares of the company's stock valued at $19,460,000 after purchasing an additional 128,000 shares in the last quarter. Westfield Capital Management Co. LP lifted its holdings in shares of Bicycle Therapeutics by 4.6% in the second quarter. Westfield Capital Management Co. LP now owns 2,780,491 shares of the company's stock valued at $19,324,000 after purchasing an additional 123,186 shares in the last quarter. Long Focus Capital Management LLC lifted its holdings in shares of Bicycle Therapeutics by 138.2% in the first quarter. Long Focus Capital Management LLC now owns 1,293,753 shares of the company's stock valued at $10,984,000 after purchasing an additional 750,661 shares in the last quarter. Candriam S.C.A. raised its holdings in shares of Bicycle Therapeutics by 10.8% during the first quarter. Candriam S.C.A. now owns 1,205,207 shares of the company's stock worth $10,232,000 after acquiring an additional 117,331 shares in the last quarter. Finally, Tybourne Capital Management HK Ltd. raised its holdings in shares of Bicycle Therapeutics by 72.4% during the second quarter. Tybourne Capital Management HK Ltd. now owns 993,743 shares of the company's stock worth $6,907,000 after acquiring an additional 417,400 shares in the last quarter. Hedge funds and other 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.

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