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CAMBRIDGE—Travis Alvin Thompson, the Chief Accounting Officer of Bicycle Therapeutics PLC (NASDAQ:BCYC), recently reported the sale of company shares totaling $2,499. The transactions, disclosed in a Form 4 filing, took place over two days, amid a significant decline in the company’s stock price, which has fallen over 17% in the past week. According to InvestingPro analysis, the stock appears undervalued at its current market cap of $514 million.
On April 2, Thompson sold 210 ordinary shares at a weighted average price of $8.02 per share. The following day, he sold an additional 109 shares, this time at a weighted average price of $7.48 per share. The price range for these transactions was between $7.48 and $8.02. The stock is currently trading near its 52-week low, with InvestingPro data showing technical indicators suggesting oversold conditions.
These sales were conducted to meet statutory tax withholding obligations related to the vesting of restricted stock units, as mandated by Thompson’s award agreement. Following these transactions, Thompson retains direct ownership of 31,827 shares in the company. Despite recent price weakness, the company maintains strong liquidity with a current ratio of 13.8. For deeper insights into BCYC’s financial health and additional analysis, check out the comprehensive research report available on InvestingPro.
In other recent news, Bicycle Therapeutics has announced significant developments, including a reshuffling of its leadership team. Felix J. Baker, Ph.D., will take over as chairman of the Board of Directors, while Alessandro Riva, M.D., and Fabrice André, M.D., Ph.D., join the Board and Clinical Advisory Board, respectively. The company has reported promising Phase 1 data for its drug candidate zelenectide pevedotin in combination with pembrolizumab, showing a 65% overall response rate in metastatic urothelial cancer patients. Bicycle Therapeutics maintains a strong financial position with $879.5 million in cash, expected to support operations into the second half of 2027. Analyst firm JMP Securities has reaffirmed a Market Outperform rating for Bicycle Therapeutics, while Jefferies adjusted its price target to $42, maintaining a Buy rating. The company is advancing its clinical pipeline, with several Phase 1/2 trials set to begin in 2025 for cancers involving NECTIN4 gene amplification. Bicycle Therapeutics is also progressing in its radiopharmaceutical pipeline, with human imaging data expected in mid-2025. These updates reflect the company’s ongoing efforts to expand its oncology expertise and strategic initiatives.
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