Bicycle Therapeutics (NASDAQ:BCYC) Reaches New 1-Year Low – Time to Sell?

Bicycle Therapeutics plc (NASDAQ:BCYC)’s share price reached a new 52-week low on Tuesday . The stock traded as low as $11.12 and last traded at $11.37, with a volume of 30293 shares. The stock had previously closed at $11.25.

Analyst Ratings Changes

Several analysts have issued reports on the company. B. Riley dropped their price objective on Bicycle Therapeutics from $28.00 to $17.00 and set a “neutral” rating on the stock in a research note on Friday, December 13th. Stephens reissued an “equal weight” rating and set a $15.00 target price on shares of Bicycle Therapeutics in a report on Wednesday, January 22nd. JMP Securities lowered their target price on Bicycle Therapeutics from $32.00 to $26.00 and set a “market outperform” rating for the company in a research note on Wednesday, December 18th. HC Wainwright reiterated a “buy” rating and issued a $33.00 price target on shares of Bicycle Therapeutics in a research note on Monday, January 13th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $35.00 price objective on shares of Bicycle Therapeutics in a report on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Bicycle Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $29.43.

Bicycle Therapeutics Stock Performance

The company has a market capitalization of $778.54 million, a price-to-earnings ratio of -3.43 and a beta of 0.93. The business has a 50 day moving average price of $13.51 and a 200-day moving average price of $19.60.

Insider Transactions at Bicycle Therapeutics

In other news, Director Bros. Advisors Lp Baker bought 985,397 shares of Bicycle Therapeutics stock in a transaction dated Friday, December 13th. The stock was purchased at an average price of $13.76 per share, for a total transaction of $13,559,062.72. Following the purchase, the director now directly owns 9,537,643 shares in the company, valued at $131,237,967.68. The trade was a 11.52 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Travis Alvin Thompson sold 2,686 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $15.00, for a total value of $40,290.00. Following the completion of the sale, the chief accounting officer now owns 32,146 shares in the company, valued at $482,190. This represents a 7.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 27,677 shares of company stock valued at $392,413 in the last quarter. 8.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Bicycle Therapeutics

Several large investors have recently modified their holdings of BCYC. Point72 Asset Management L.P. boosted its holdings in Bicycle Therapeutics by 406.2% in the 4th quarter. Point72 Asset Management L.P. now owns 4,554,900 shares of the company’s stock worth $63,769,000 after buying an additional 3,655,101 shares during the period. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Bicycle Therapeutics by 43.3% during the fourth quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 80,236 shares of the company’s stock worth $1,123,000 after buying an additional 24,260 shares in the last quarter. Millennium Management LLC bought a new position in Bicycle Therapeutics in the 4th quarter worth about $2,475,000. Fcpm Iii Services B.V. increased its stake in Bicycle Therapeutics by 47.5% in the 4th quarter. Fcpm Iii Services B.V. now owns 3,452,330 shares of the company’s stock worth $48,333,000 after acquiring an additional 1,112,369 shares during the last quarter. Finally, Caption Management LLC purchased a new stake in shares of Bicycle Therapeutics in the 4th quarter valued at about $2,283,000. 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.