Bicycle Therapeutics (NASDAQ: BCYC) Shares Decline On Insider Sell
The Bicycle Therapeutics plc (NASDAQ: BCYC) share price fell ahead of market opening on Thursday after an insider sold shares of the company. The stock had closed at $ 59.25 previously, but opened at $ 57.99. Shares of Bicycle Therapeutics last traded at $ 59.92, with volume of 794 shares traded. More specifically, director Pierre Legault sold 44,537 shares of the company as part of a transaction that took place on Tuesday, December 21. The stock was sold for an average price of $ 57.11, for a total value of $ 2,543,508.07. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Additionally, CEO Kevin Lee sold 4,631 shares of the company in a trade that took place on Thursday, October 14. The shares were sold for an average price of $ 60.00, for a total value of $ 277,860.00. Disclosure of this sale can be found here. Insiders have sold a total of 54,217 shares of the company valued at $ 3,093,708 in the past ninety days. 17.90% of the shares are held by insiders.
The BCYC has been the subject of several recent research reports. B. Riley increased his price target on Bicycle Therapeutics from $ 56.00 to $ 72.00 and gave the company a “buy” rating in a report released on Friday, October 8. Piper Sandler raised her target price on Bicycle Therapeutics from $ 46.00 to $ 76.00 and gave the company an “overweight” rating in a research note on Friday, October 8. Zacks Investment Research upgraded Bicycle Therapeutics from a “sell” rating to a “conservation” rating in a research report released on Tuesday, November 9. Canaccord Genuity raised its price target on Bicycle Therapeutics from $ 40.00 to $ 60.00 and gave the company a “buy” rating in a report released on Monday, October 11. Finally, SVB Leerink began coverage of Bicycle Therapeutics in a report on Friday, December 17. They issued an “outperformance” rating and a price target of $ 70.00 for the company. One analyst rated the stock with a conservation rating and ten gave the stock a buy rating. According to MarketBeat data, the stock currently has a consensus rating of “Buy” and a consensus price target of $ 69.09.
The company’s 50-day moving average is $ 55.75 and its two-hundred-day moving average is $ 42.50. The company has a current ratio of 9.04, a quick ratio of 9.04 and a debt ratio of 0.17.
Bicycle Therapeutics (NASDAQ: BCYC) last released its quarterly results on Wednesday, November 3. The company reported ($ 0.59) earnings per share for the quarter, beating analyst consensus estimates of ($ 0.61) by $ 0.02. The company posted revenue of $ 4.33 million in the quarter, compared to $ 5.29 million according to analysts’ estimates. Bicycle Therapeutics recorded a negative net margin of 562.38% and a negative return on equity of 48.12%. On average, research analysts predict that Bicycle Therapeutics plc will post -2.68 EPS for the current year.
A number of hedge funds have recently increased or reduced their holdings in BCYC. HighMark Wealth Management LLC purchased a new stake in Bicycle Therapeutics shares in the 3rd quarter for a value of approximately $ 26,000. WealthShield Partners LLC purchased a new equity stake in Bicycle Therapeutics in the second quarter for a value of approximately $ 27,000. Citigroup Inc. increased its position in the shares of Bicycle Therapeutics by 107.8% in the 2nd quarter. Citigroup Inc. now owns 1,066 shares of the company valued at $ 32,000 after acquiring 553 additional shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Bicycle Therapeutics by 57.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,056 shares of the company valued at $ 63,000 after acquiring an additional 754 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D acquired a new position in Bicycle Therapeutics in the 3rd quarter for a value of approximately $ 203,000. 56.76% of the shares are held by institutional investors and hedge funds.
Bicycle Therapeutics Company Profile (NASDAQ: BCYC)
Bicycle Therapeutics Plc is a clinical-stage biopharmaceutical company engaged in the development of a new class of drugs, which the company calls bikes, for diseases underserved by existing therapies. The company uses its new proprietary phage display screening platform to identify bicycles.
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