Bicycle therapeutics COO sells shares worth over $22k

Bicycle Therapeutics plc's (NASDAQ:BCYC) Chief Operating Officer, Alistair Milnes, has sold a total of 955 ordinary shares, realizing over $22,000 from the transaction. The sale occurred on April 3, with the share prices ranging from $23.75 to $24.05.

The transaction was part of a pre-determined plan to cover statutory tax withholding obligations related to the vesting of restricted stock units (RSUs). According to a footnote in the filing, this "sell to cover" transaction is mandatory under the award agreement and does not represent a discretionary sale by Milnes.

Following the sale, Milnes still holds 72,241 ordinary shares of Bicycle Therapeutics. The company, which is in the pharmaceutical preparations industry, is based in Cambridge, United Kingdom.

Investors and followers of Bicycle Therapeutics can request detailed information on the exact number of shares sold at each price point within the range mentioned, as per the footnote in the filing. The weighted average price of the shares sold was reported to be $23.81.

The sale was finalized on April 5, with Jason Minio, Attorney-in-Fact, signing off on the ownership document.

Bicycle Therapeutics plc (NASDAQ:BCYC) has been navigating a challenging market environment, as reflected in the recent transaction by the Chief Operating Officer. While the sale of shares by Alistair Milnes was for tax obligations, investors are keenly observing the company's financial health and stock performance. According to InvestingPro data, Bicycle Therapeutics holds a market capitalization of approximately $962.87 million and a negative P/E ratio of -4.57, indicating that the company is not currently profitable.

The company's stock has experienced significant volatility, with a notable decrease of 9.2% in the total return over the past week. Nevertheless, it's important to highlight that Bicycle Therapeutics has seen a strong return over the last three months, with a price total return of 32.38%. This could suggest a rebound or positive market sentiment in the short term.

Investors considering Bicycle Therapeutics should be aware of the company's financial metrics, such as the gross profit margin, which stands at -480.13% for the last twelve months as of Q4 2023. This underscores the challenges the company faces in terms of profitability, as also pointed out by InvestingPro Tips. Analysts do not expect the company to be profitable this year, and it suffers from weak gross profit margins. However, it's worth noting that the company holds more cash than debt on its balance sheet and liquid assets exceed short term obligations, which may offer some financial stability.

For those looking to delve deeper into Bicycle Therapeutics' financials and stock performance, there are additional InvestingPro Tips available on the platform. Interested readers can use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, providing access to comprehensive analysis and insights.

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