Caterpillar bids for Australia’s RPMGlobal- AFR
CAMBRIDGE, U.K.—Bicycle Therapeutics PLC (NASDAQ:BCYC), currently trading at $6.89 and down 17% in the past week, recently reported that its Chief Technology Officer, Michael Skynner, has sold a portion of his holdings in the company. According to a Form 4 filing with the Securities and Exchange Commission, Skynner sold a total of 1,852 ordinary shares over two days. InvestingPro analysis indicates the stock is trading near its 52-week low of $7.41.
The transactions, dated April 2 and April 3, involved shares sold at an average price ranging between $7.48 and $8.02, totaling approximately $14,292. Following these sales, Skynner retains ownership of 121,870 shares in the $514 million market cap company.
These transactions were necessary to cover statutory tax withholding obligations related to the vesting and settlement of restricted stock units, as mandated by the award agreement. This type of sale is not discretionary and is conducted to meet tax obligations. For deeper insights into insider trading patterns and comprehensive analysis, including 12+ additional ProTips, access the full InvestingPro Research Report.
In other recent news, Bicycle Therapeutics has reported its fourth-quarter financial results for 2024, revealing a solid cash reserve of $879.5 million. This financial strength is supported by multiple partnerships that have provided non-dilutive capital, ensuring the company’s stability into the second half of 2027. The company also announced promising Phase 1 data for its drug candidate zelenectide pevedotin, showing a 65% objective response rate in metastatic urothelial cancer patients. Bicycle Therapeutics is progressing with its clinical pipeline, with the global Phase 2/3 Duravelo-2 trial for zelenectide pevedotin underway.
Analyst firms have weighed in on these developments, with JMP Securities maintaining a Market Outperform rating and a $26 price target, and Jefferies adjusting its price target to $42 while keeping a Buy rating. Rodman & Renshaw also reaffirmed a Buy rating, setting a $33 price target. These ratings reflect confidence in the company’s ongoing trials and financial position. Additionally, Bicycle Therapeutics has made several leadership changes, including the appointment of Felix J. Baker, Ph.D., as chairman of the Board of Directors. The company is preparing to release further imaging data from its radiopharmaceutical programs and initiate new trials in 2025.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.