Bicycle Therapeutics (NASDAQ:BCYC) Shares Down 2.9% on Analyst Downgrade

Bicycle Therapeutics plc (NASDAQ:BCYC)’s share price was down 2.9% during trading on Thursday after JMP Securities lowered their price target on the stock from $32.00 to $26.00. JMP Securities currently has a market outperform rating on the stock. Bicycle Therapeutics traded as low as $14.75 and last traded at $14.87. Approximately 35,474 shares traded hands during mid-day trading, a decline of 91% from the average daily volume of 402,572 shares. The stock had previously closed at $15.32.

Several other equities analysts have also recently issued reports on BCYC. HC Wainwright reduced their target price on Bicycle Therapeutics from $55.00 to $33.00 and set a “buy” rating on the stock in a research note on Monday, December 16th. Cantor Fitzgerald restated an “overweight” rating on shares of Bicycle Therapeutics in a research report on Monday, September 9th. B. Riley dropped their price target on Bicycle Therapeutics from $28.00 to $17.00 and set a “neutral” rating on the stock in a research report on Friday, December 13th. Stephens started coverage on Bicycle Therapeutics in a research report on Friday, November 8th. They set an “equal weight” rating and a $25.00 price target on the stock. Finally, Needham & Company LLC restated a “buy” rating and set a $38.00 price target on shares of Bicycle Therapeutics in a research report on Thursday, October 31st. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.25.

Insiders Place Their Bets

In other news, CEO Kevin Lee sold 3,212 shares of the company’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $22.26, for a total transaction of $71,499.12. Following the transaction, the chief executive officer now directly owns 380,864 shares of the company’s stock, valued at $8,478,032.64. This represents a 0.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Bros. Advisors Lp Baker acquired 500,000 shares of Bicycle Therapeutics stock in a transaction that occurred on Monday, December 16th. The shares were purchased at an average price of $15.34 per share, with a total value of $7,670,000.00. Following the transaction, the director now owns 9,995,274 shares of the company’s stock, valued at $153,327,503.16. The trade was a 5.27 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 10,840 shares of company stock valued at $259,128. 8.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Bicycle Therapeutics

A number of hedge funds have recently bought and sold shares of BCYC. Assetmark Inc. purchased a new stake in Bicycle Therapeutics in the third quarter worth about $34,000. GAMMA Investing LLC increased its position in Bicycle Therapeutics by 105.1% in the third quarter. GAMMA Investing LLC now owns 2,026 shares of the company’s stock worth $46,000 after buying an additional 1,038 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its position in Bicycle Therapeutics by 69.1% in the third quarter. China Universal Asset Management Co. Ltd. now owns 7,138 shares of the company’s stock worth $162,000 after buying an additional 2,918 shares in the last quarter. XTX Topco Ltd bought a new position in shares of Bicycle Therapeutics in the second quarter worth approximately $206,000. Finally, Crossmark Global Holdings Inc. purchased a new stake in shares of Bicycle Therapeutics in the third quarter worth $257,000. Hedge funds and other institutional investors own 86.15% of the company’s stock.

Bicycle Therapeutics Stock Performance

The company’s 50-day moving average price is $21.83 and its 200 day moving average price is $22.50. The stock has a market capitalization of $1.01 billion, a P/E ratio of -4.46 and a beta of 0.86.

Bicycle Therapeutics (NASDAQ:BCYC) last issued its quarterly earnings results on Thursday, October 31st. The company reported ($0.74) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.78) by $0.04. Bicycle Therapeutics had a negative return on equity of 27.35% and a negative net margin of 450.64%. The business had revenue of $2.68 million during the quarter, compared to analyst estimates of $6.82 million. During the same quarter in the prior year, the business posted ($1.26) EPS. Bicycle Therapeutics’s revenue for the quarter was down 50.0% compared to the same quarter last year. Analysts predict that Bicycle Therapeutics plc will post -3.05 earnings per share for the current year.

Bicycle Therapeutics Company Profile

Bicycle Therapeutics plc, a clinical-stage biopharmaceutical company, develops a class of medicines for diseases that are underserved by existing therapeutics in the United States and the United Kingdom. Its product pipeline comprising BT8009, a bicycle toxin conjugate (BTC) which is in phase I/II/III clinical trial for the treatment of high nectin-4 expressing tumors; BT5528, a BTC which is in phase I/II clinical trial for the treatment of Ephrin type A receptor 2 expressing tumor; BT7480, a Bicycle TICA molecule which is in phase I/II targeting Nectin-4 and agonizing CD137; and BT7455, a Bicycle TICA molecule targeting Ephrin type A receptor 2 and CD137 and is in preclinical trial.