On January 2, 2025, Santiago Arroyo, the Chief Development Officer of Bicycle Therapeutics PLC (NASDAQ:BCYC), executed several stock transactions, according to a recent SEC filing. The company, currently valued at approximately $1 billion, has caught analysts' attention with price targets ranging from $17 to $53. Arroyo sold 4,943 ordinary shares at an average price of $14.09 per share, amounting to a total value of approximately $69,646. This sale was conducted to cover tax withholding obligations related to the vesting of restricted stock units (RSUs). According to InvestingPro data, the stock is currently trading below its Fair Value, despite maintaining a strong balance sheet with more cash than debt.
In addition to the sale, Arroyo acquired 35,000 RSUs, which will vest over the coming years. Furthermore, he received 87,000 employee stock options, which will vest starting in 2026. Following these transactions, Arroyo holds 69,057 ordinary shares directly. The stock has experienced a challenging period, down about 26% over the past six months, though it's shown recent signs of recovery with a 6% gain in the past week. Track insider transactions and access 7 additional key insights about BCYC with an InvestingPro subscription.
In other recent news, Bicycle Therapeutics has been the subject of numerous analyst reviews and financial developments. B.Riley significantly revised the company's price target from $28.00 to $17.00, retaining a Neutral rating, following the release of clinical data for zelenectide pevedotin that fell short of expectations. Similarly, H.C. Wainwright adjusted its price target for Bicycle Therapeutics, reducing it to $33.00 from the previous $55.00, but maintained a Buy rating.
In contrast, Morgan Stanley (NYSE:MS) held steady with its Equalweight rating and a price target of $30.00. Meanwhile, Needham kept its Buy rating and $38.00 stock price target for Bicycle Therapeutics, anticipating encouraging early results for the monotherapy in patients with triple-negative breast cancer. Leerink Partners upped 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 among the recent developments for Bicycle Therapeutics, which continues to navigate its path in the biopharmaceutical industry.
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