Bicycle Therapeutics plc (NASDAQ:BCYC) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Bicycle Therapeutics plc (NASDAQ:BCYC) have been assigned an average rating of “Moderate Buy” from the nine brokerages that are covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $35.25.

BCYC has been the topic of a number of research reports. HC Wainwright cut their price objective on Bicycle Therapeutics from $55.00 to $33.00 and set a “buy” rating on the stock in a report on Monday, December 16th. Needham & Company LLC restated a “buy” rating and set a $38.00 price objective on shares of Bicycle Therapeutics in a research note on Thursday, October 31st. JMP Securities cut their price objective on shares of Bicycle Therapeutics from $32.00 to $26.00 and set a “market outperform” rating on the stock in a research note on Wednesday, December 18th. B. Riley reduced their target price on shares of Bicycle Therapeutics from $28.00 to $17.00 and set a “neutral” rating for the company in a report on Friday, December 13th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $35.00 price target on shares of Bicycle Therapeutics in a report on Friday, November 1st.

Insider Activity at Bicycle Therapeutics

In other Bicycle Therapeutics news, CAO Travis Alvin Thompson sold 6,256 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $25.11, for a total transaction of $157,088.16. Following the completion of the transaction, the chief accounting officer now owns 19,241 shares of the company’s stock, valued at $483,141.51. This represents a 24.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Michael Skynner sold 3,287 shares of Bicycle Therapeutics stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $14.09, for a total value of $46,313.83. Following the completion of the sale, the chief technology officer now directly owns 124,658 shares in the company, valued at $1,756,431.22. This represents a 2.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,933 shares of company stock worth $549,501 in the last 90 days. Corporate insiders own 8.50% of the company’s stock.

Hedge Funds Weigh In On Bicycle Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. increased its holdings in shares of Bicycle Therapeutics by 26.8% in the third quarter. JPMorgan Chase & Co. now owns 8,424 shares of the company’s stock valued at $191,000 after purchasing an additional 1,782 shares during the last quarter. Principal Financial Group Inc. acquired a new stake in shares of Bicycle Therapeutics in the 3rd quarter worth $10,028,000. Geode Capital Management LLC raised its holdings in shares of Bicycle Therapeutics by 79.3% during the 3rd quarter. Geode Capital Management LLC now owns 38,335 shares of the company’s stock worth $868,000 after acquiring an additional 16,958 shares during the period. Jane Street Group LLC raised its holdings in shares of Bicycle Therapeutics by 35.7% during the 3rd quarter. Jane Street Group LLC now owns 20,180 shares of the company’s stock worth $457,000 after acquiring an additional 5,310 shares during the period. Finally, State Street Corp boosted its position in shares of Bicycle Therapeutics by 233.5% during the 3rd quarter. State Street Corp now owns 86,271 shares of the company’s stock valued at $1,952,000 after acquiring an additional 60,399 shares during the last quarter. 86.15% of the stock is owned by hedge funds and other institutional investors.

Bicycle Therapeutics Trading Down 6.4 %

Shares of Bicycle Therapeutics stock opened at $14.17 on Friday. The firm’s 50 day simple moving average is $18.89 and its two-hundred day simple moving average is $21.77. The firm has a market capitalization of $978.38 million, a price-to-earnings ratio of -4.31 and a beta of 0.92. Bicycle Therapeutics has a 12-month low of $12.17 and a 12-month high of $28.67.

Bicycle Therapeutics (NASDAQ:BCYC) last announced its quarterly earnings data on Thursday, October 31st. The company reported ($0.74) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.78) by $0.04. The firm had revenue of $2.68 million for the quarter, compared to analyst estimates of $6.82 million. Bicycle Therapeutics had a negative net margin of 450.64% and a negative return on equity of 27.35%. The business’s quarterly revenue was down 50.0% compared to the same quarter last year. During the same period in the previous year, the company earned ($1.26) earnings per share. On average, sell-side analysts predict that Bicycle Therapeutics will post -3.05 EPS for the current fiscal 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.