Insider Selling: Bicycle Therapeutics plc (NASDAQ:BCYC) CEO Sells $71,499.12 in Stock

Bicycle Therapeutics plc (NASDAQ:BCYC) CEO Kevin Lee sold 3,212 shares of the business’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $22.26, for a total transaction of $71,499.12. Following the completion of the sale, the chief executive officer now directly owns 380,864 shares of the company’s stock, valued at approximately $8,478,032.64. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Bicycle Therapeutics Stock Up 6.3 %

NASDAQ BCYC opened at $23.60 on Monday. The company has a quick ratio of 14.77, a current ratio of 14.77 and a debt-to-equity ratio of 0.01. Bicycle Therapeutics plc has a 52 week low of $12.54 and a 52 week high of $28.20. The business’s fifty day simple moving average is $23.36 and its 200-day simple moving average is $22.90. The firm has a market cap of $1.01 billion, a PE ratio of -5.30 and a beta of 0.89.

Bicycle Therapeutics (NASDAQ:BCYC) last posted its earnings results on Tuesday, August 6th. The company reported ($0.77) earnings per share for the quarter, beating the consensus estimate of ($1.10) by $0.33. The company had revenue of $9.36 million for the quarter, compared to analyst estimates of $6.13 million. Bicycle Therapeutics had a negative net margin of 417.88% and a negative return on equity of 32.80%. The firm’s revenue was down 17.9% compared to the same quarter last year. As a group, equities analysts anticipate that Bicycle Therapeutics plc will post -3.17 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Needham & Company LLC reissued a “buy” rating and set a $38.00 target price on shares of Bicycle Therapeutics in a research note on Monday, September 16th. Cantor Fitzgerald reissued an “overweight” rating on shares of Bicycle Therapeutics in a report on Monday, September 9th. Oppenheimer reaffirmed an “outperform” rating and issued a $48.00 price target on shares of Bicycle Therapeutics in a research note on Wednesday, August 7th. B. Riley downgraded Bicycle Therapeutics from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $33.00 to $28.00 in a research note on Wednesday, August 7th. Finally, HC Wainwright restated a “buy” rating and issued a $55.00 price objective on shares of Bicycle Therapeutics in a report on Monday, September 16th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $44.56.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in BCYC. PNC Financial Services Group Inc. purchased a new stake in Bicycle Therapeutics in the fourth quarter valued at $137,000. China Universal Asset Management Co. Ltd. lifted its position in Bicycle Therapeutics by 71.4% in the first quarter. China Universal Asset Management Co. Ltd. now owns 6,859 shares of the company’s stock valued at $171,000 after buying an additional 2,858 shares during the last quarter. XTX Topco Ltd acquired a new position in Bicycle Therapeutics in the second quarter valued at about $206,000. PDS Planning Inc purchased a new position in Bicycle Therapeutics during the first quarter worth about $210,000. Finally, Natixis Advisors LLC acquired a new stake in shares of Bicycle Therapeutics during the second quarter valued at about $261,000. 86.15% of the stock is currently owned by hedge funds and other institutional investors.

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.