Bicycle Therapeutics (NASDAQ:BCYC) Trading Down 2.6% – Time to Sell?

Bicycle Therapeutics PLC Sponsored ADR (NASDAQ:BCYC) shares were down 2.6% during trading on Tuesday . The company traded as low as $5.61 and last traded at $5.63. Approximately 324,474 shares traded hands during mid-day trading, a decline of 11% from the average daily volume of 363,180 shares. The stock had previously closed at $5.78.

Analyst Ratings Changes

BCYC has been the subject of a number of analyst reports. Citizens Jmp boosted their price objective on Bicycle Therapeutics from $10.00 to $12.00 and gave the company a “market outperform” rating in a research report on Friday, October 31st. Royal Bank Of Canada restated a “sector perform” rating and set a $11.00 price target (down from $27.00) on shares of Bicycle Therapeutics in a report on Friday, October 31st. Weiss Ratings reissued a “sell (e+)” rating on shares of Bicycle Therapeutics in a research report on Monday, December 22nd. JMP Securities set a $12.00 price objective on shares of Bicycle Therapeutics in a report on Friday, October 31st. Finally, Truist Financial started coverage on shares of Bicycle Therapeutics in a research note on Monday, November 24th. They set a “hold” rating and a $10.00 target price for the company. Seven research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $20.20.

Bicycle Therapeutics Trading Down 2.6%

The company has a market capitalization of $390.55 million, a P/E ratio of -1.56 and a beta of 1.63. The company has a 50 day moving average price of $6.74 and a 200 day moving average price of $7.19.

Insiders Place Their Bets

In other Bicycle Therapeutics news, CEO Kevin Lee sold 10,989 shares of the business’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $6.46, for a total transaction of $70,988.94. Following the sale, the chief executive officer owned 618,996 shares of the company’s stock, valued at approximately $3,998,714.16. The trade was a 1.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Alethia Young sold 4,334 shares of the firm’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $6.49, for a total transaction of $28,127.66. Following the completion of the transaction, the chief financial officer owned 87,081 shares of the company’s stock, valued at approximately $565,155.69. This trade represents a 4.74% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 38,029 shares of company stock worth $251,966 in the last 90 days. 8.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Bicycle Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in BCYC. Acadian Asset Management LLC boosted its holdings in Bicycle Therapeutics by 454.1% during the second quarter. Acadian Asset Management LLC now owns 698,501 shares of the company’s stock worth $4,840,000 after purchasing an additional 572,439 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of Bicycle Therapeutics by 64.7% during the 3rd quarter. Principal Financial Group Inc. now owns 1,148,402 shares of the company’s stock valued at $8,889,000 after buying an additional 451,135 shares during the last quarter. Tybourne Capital Management HK Ltd. boosted its position in Bicycle Therapeutics by 72.4% during the second quarter. Tybourne Capital Management HK Ltd. now owns 993,743 shares of the company’s stock worth $6,907,000 after purchasing an additional 417,400 shares during the period. Woodline Partners LP purchased a new position in Bicycle Therapeutics in the 1st quarter valued at approximately $3,088,000. Finally, Millennium Management LLC grew its position in shares of Bicycle Therapeutics by 156.5% in the first quarter. Millennium Management LLC now owns 453,428 shares of the company’s stock valued at $3,850,000 after purchasing an additional 276,671 shares in the last quarter. Institutional investors and hedge funds own 86.15% of the company’s stock.

Bicycle Therapeutics Company Profile

Bicycle Therapeutics plc is a clinical-stage biotechnology company specializing in the discovery and development of novel peptide therapeutics based on its proprietary bicyclic peptide platform. The company’s core technology leverages constrained peptide structures that combine the binding specificity of biologics with the favorable tissue-penetration properties of small molecules. This approach is designed to generate highly selective drug candidates with potential applications across a range of therapeutic areas, including oncology, neuroscience and immunology.

Bicycle Therapeutics maintains a diversified pipeline of internally developed programs as well as collaborations with leading pharmaceutical partners.