Bicycle Therapeutics (NASDAQ:BCYC) Trading Down 3.4% - Should You Sell?

Key Points

• Bicycle Therapeutics shares dropped 3.4% to $8.04, with trading volume significantly below average at 24,046 shares.
• Analysts have set varied price targets for BCYC, with Royal Bank Of Canada at $27.00 and Morgan Stanley at $13.00, reflecting mixed sentiment on the stock's performance.
• The company reported a quarterly earnings miss, with a loss of ($1.14) per share against an estimate of ($0.95) and revenues falling short of expectations at $2.90 million.

Shares of Bicycle Therapeutics PLC Sponsored ADR (NASDAQ:BCYC - Get Free Report) were down 3.4% on Monday . The stock traded as low as $8.11 and last traded at $8.04. Approximately 24,046 shares changed hands during mid-day trading, a decline of 92% from the average daily volume of 312,615 shares. The stock had previously closed at $8.32.

Analysts Set New Price Targets

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

Bicycle Therapeutics Price Performance

The company has a 50-day moving average price of $7.44 and a 200 day moving average price of $7.78. The firm has a market capitalization of $573.17 million, a PE ratio of -2.36 and a beta of 1.47.

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

Insider Activity

In other Bicycle Therapeutics news, CEO Kevin Lee sold 3,231 shares of the company's stock in a transaction on Friday, October 3rd. The shares were sold at an average price of $8.41, for a total value of $27,172.71. Following the sale, the chief executive officer directly owned 475,310 shares of the company's stock, valued at approximately $3,997,357.10. This represents a 0.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 8,527 shares of company stock valued at $71,738 in the last three months. Company insiders own 22.90% of the company's stock.

Hedge Funds Weigh In On Bicycle Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the business. Ausdal Financial Partners Inc. purchased a new position in shares of Bicycle Therapeutics during the 2nd quarter valued at approximately $70,000. Sei Investments Co. acquired a new position in Bicycle Therapeutics in the 2nd quarter valued at $74,000. Virtus Investment Advisers LLC raised its position in shares of Bicycle Therapeutics by 32.6% in the second quarter. Virtus Investment Advisers LLC now owns 10,821 shares of the company's stock valued at $75,000 after buying an additional 2,659 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Bicycle Therapeutics by 879.5% in the first quarter. GAMMA Investing LLC now owns 8,982 shares of the company's stock worth $76,000 after buying an additional 8,065 shares in the last quarter. Finally, Ameriprise Financial Inc. purchased a new position in shares of Bicycle Therapeutics in the second quarter worth about $86,000. 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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