CAMBRIDGE, U.K.—Hannay Michael Charles Ferguson, Chief Product and Supply Chain Officer at Bicycle Therapeutics PLC (NASDAQ:BCYC), a $1.03 billion market cap biotech company currently trading at $14.88, recently reported selling shares valued at approximately $30,000, according to a filing with the Securities and Exchange Commission. The transactions, which took place on January 2 and January 3, involved the sale of 2,118 ordinary shares at prices ranging from $14.09 to $14.75. According to InvestingPro analysis, the stock appears undervalued based on its Fair Value assessment.
In addition to the sales, Ferguson acquired 35,000 ordinary shares through a restricted stock unit award, which will vest over the coming years. These transactions reflect Ferguson's ongoing management of his equity holdings in the company, which has seen its stock decline by approximately 13% over the past year. InvestingPro data indicates the company is rapidly consuming its cash reserves, though it maintains more cash than debt on its balance sheet.
In other recent news, Bicycle Therapeutics has experienced several significant developments in its financial and clinical performance. B.Riley reduced the price target from $28.00 to $17.00, maintaining a Neutral rating, following clinical data for zelenectide pevedotin that did not meet expectations. On the other hand, H.C. Wainwright lowered its price target for Bicycle Therapeutics to $33.00 from the previous $55.00, while maintaining a Buy rating. Morgan Stanley (NYSE:MS) upheld its Equalweight rating on Bicycle Therapeutics with a steady price target of $30.00, noting the clarity provided on the Phase 2/3 Duravelo-2 trial timing as a positive development.
Meanwhile, Needham retained its Buy rating and $38.00 stock price target for Bicycle Therapeutics, anticipating promising early results for the monotherapy in patients with triple-negative breast cancer. Leerink Partners, too, raised the company's price target to $32.00, maintaining an Outperform rating, following the company's third-quarter financial results and pipeline progress. These are just a few of the recent developments surrounding Bicycle Therapeutics. Despite these varying analyses, the company has reported impressive revenue growth of 48.6% in the last twelve months.
These updates serve as a snapshot of recent events and should be of interest to investors closely watching Bicycle Therapeutics. As always, it is recommended that investors continue to monitor the company's ongoing performance and future announcements.
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