Bicycle Therapeutics (NASDAQ:BCYC) Sets New 52-Week Low – Should You Sell?

Bicycle Therapeutics plc (NASDAQ:BCYC)’s share price hit a new 52-week low during trading on Friday . The company traded as low as $12.17 and last traded at $12.21, with a volume of 152520 shares changing hands. The stock had previously closed at $12.61.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on BCYC. JMP Securities decreased their price objective on Bicycle Therapeutics from $32.00 to $26.00 and set a “market outperform” rating for the company in a report on Wednesday, December 18th. Stephens reaffirmed an “equal weight” rating and issued a $15.00 target price on shares of Bicycle Therapeutics in a research report on Wednesday, January 22nd. Needham & Company LLC reissued a “buy” rating and set a $32.00 price target on shares of Bicycle Therapeutics in a research report on Monday, January 13th. B. Riley lowered their target price on shares of Bicycle Therapeutics from $28.00 to $17.00 and set a “neutral” rating on the stock in a report on Friday, December 13th. Finally, HC Wainwright reiterated a “buy” rating and issued a $33.00 target price on shares of Bicycle Therapeutics in a research note on Monday, January 13th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $33.25.

Bicycle Therapeutics Stock Down 3.4 %

The firm has a 50 day moving average of $15.22 and a 200 day moving average of $20.65. The firm has a market cap of $841.03 million, a price-to-earnings ratio of -3.70 and a beta of 0.93.

Insider Buying and Selling at Bicycle Therapeutics

In other Bicycle Therapeutics news, CAO Travis Alvin Thompson sold 6,256 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $25.11, for a total value of $157,088.16. Following the transaction, the chief accounting officer now directly owns 19,241 shares of the company’s stock, valued at approximately $483,141.51. This trade represents a 24.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Kevin Lee sold 9,038 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $14.09, for a total transaction of $127,345.42. Following the sale, the chief executive officer now directly owns 495,026 shares of the company’s stock, valued at approximately $6,974,916.34. The trade was a 1.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,933 shares of company stock valued at $549,501. Corporate insiders own 8.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of BCYC. Point72 Asset Management L.P. increased its position in shares of Bicycle Therapeutics by 1,438.1% during the 3rd quarter. Point72 Asset Management L.P. now owns 899,799 shares of the company’s stock valued at $20,362,000 after purchasing an additional 841,299 shares during the last quarter. Principal Financial Group Inc. purchased a new stake in shares of Bicycle Therapeutics during the 3rd quarter worth approximately $10,028,000. Westfield Capital Management Co. LP lifted its stake in Bicycle Therapeutics by 21.5% in the third quarter. Westfield Capital Management Co. LP now owns 1,850,945 shares of the company’s stock valued at $41,887,000 after purchasing an additional 327,089 shares during the last quarter. FMR LLC bought a new position in Bicycle Therapeutics during the third quarter valued at $3,406,000. Finally, Harbor Capital Advisors Inc. increased its position in Bicycle Therapeutics by 141.8% in the third quarter. Harbor Capital Advisors Inc. now owns 133,707 shares of the company’s stock worth $3,026,000 after buying an additional 78,418 shares during the last quarter. Hedge funds and other institutional investors own 86.15% of the company’s stock.

About Bicycle Therapeutics

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.