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Michael Charles Ferguson, Chief Product and Supply Chain Officer at Bicycle Therapeutics PLC (NASDAQ:BCYC), recently sold a portion of his holdings in the company. The sale comes as the stock trades near its 52-week low, having declined over 17% in the past week alone. According to InvestingPro analysis, the stock appears undervalued at current levels. According to a recent SEC filing, Ferguson sold 733 ordinary shares over two days, resulting in a total transaction value of $5,735. The shares were sold at an average price range between $7.48 and $8.02 per share. Following these transactions, Ferguson retains ownership of 54,547 shares in the company. These sales were made to cover statutory tax withholding obligations related to the vesting of restricted stock units, as mandated by Ferguson’s award agreement. InvestingPro data shows the company maintains a strong balance sheet with more cash than debt, while technical indicators suggest oversold conditions. Discover 10+ additional exclusive insights with InvestingPro’s comprehensive analysis.
In other recent news, Bicycle Therapeutics has reported its fourth-quarter financial results for 2024, showcasing a strong cash reserve of $879.5 million. This financial stability is attributed to multiple partnerships that have provided non-dilutive capital, ensuring the company’s financial health into the second half of 2027. Bicycle Therapeutics is advancing its lead program, zelenectide pevedotin, in a global Phase 2/3 study named Duravelo-2, targeting metastatic urothelial cancer. The company has shared promising Phase 1 data for zelenectide pevedotin, indicating a 65% overall response rate and a 25% complete response rate in urothelial carcinoma patients.
JMP Securities has maintained a Market Outperform rating with a $26.00 price target, while Jefferies has adjusted its price target to $42.00, down from $53.00, but reaffirmed a Buy rating. Rodman & Renshaw also maintained a Buy rating with a $33.00 price target. Bicycle Therapeutics is also preparing for several Phase 1/2 trials in 2025, focusing on NECTIN-4 gene-amplified solid tumors and additional trials for its radiopharmaceutical pipeline.
Leadership changes have been announced, with Felix J. Baker, Ph.D., becoming the new chairman of the Board of Directors. The company has also welcomed new board members and promoted key executives to strengthen its oncology expertise. These developments are part of Bicycle Therapeutics’ strategy to advance its clinical pipeline and expand its research initiatives.
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