B. Riley Predicts Lower Earnings for Bicycle Therapeutics

Bicycle Therapeutics plc (NASDAQ:BCYC) – B. Riley lowered their FY2024 EPS estimates for Bicycle Therapeutics in a note issued to investors on Monday, November 18th. B. Riley analyst K. Patel now anticipates that the company will post earnings per share of ($2.83) for the year, down from their prior forecast of ($2.33). B. Riley currently has a “Neutral” rating and a $28.00 target price on the stock. The consensus estimate for Bicycle Therapeutics’ current full-year earnings is ($3.01) per share. B. Riley also issued estimates for Bicycle Therapeutics’ Q4 2024 earnings at ($0.80) EPS, FY2025 earnings at ($3.70) EPS, FY2026 earnings at ($4.26) EPS, FY2027 earnings at ($4.26) EPS and FY2028 earnings at ($3.68) EPS.

Other equities analysts also recently issued research reports about the company. JMP Securities reiterated a “market outperform” rating and set a $32.00 price target on shares of Bicycle Therapeutics in a report on Monday, September 16th. HC Wainwright restated a “buy” rating and issued a $55.00 target price on shares of Bicycle Therapeutics in a research note on Friday, November 1st. Oppenheimer reiterated an “outperform” rating and issued a $48.00 price objective on shares of Bicycle Therapeutics in a research report on Wednesday, August 7th. Royal Bank of Canada reiterated an “outperform” rating and set a $35.00 price objective on shares of Bicycle Therapeutics in a report on Friday, November 1st. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Bicycle Therapeutics in a research report on Monday, September 9th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $40.13.

Bicycle Therapeutics Trading Down 0.6 %

BCYC stock opened at $20.36 on Wednesday. The firm has a 50-day moving average of $24.37 and a two-hundred day moving average of $23.10. The firm has a market capitalization of $968.12 million, a PE ratio of -6.19 and a beta of 0.89. Bicycle Therapeutics has a one year low of $13.07 and a one year high of $28.67.

Bicycle Therapeutics (NASDAQ:BCYC) last announced its earnings results on Thursday, October 31st. The company reported ($0.74) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.78) by $0.04. Bicycle Therapeutics had a negative net margin of 450.64% and a negative return on equity of 27.35%. The firm 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 firm posted ($1.26) EPS. Bicycle Therapeutics’s revenue was down 50.0% compared to the same quarter last year.

Hedge Funds Weigh In On Bicycle Therapeutics

Several hedge funds have recently made changes to their positions in BCYC. GAMMA Investing LLC lifted its stake in shares of Bicycle Therapeutics by 105.1% in the 3rd quarter. GAMMA Investing LLC now owns 2,026 shares of the company’s stock valued at $46,000 after acquiring an additional 1,038 shares during the last quarter. L & S Advisors Inc boosted its stake in shares of Bicycle Therapeutics by 2.4% in the 3rd quarter. L & S Advisors Inc now owns 59,735 shares of the company’s stock worth $1,352,000 after buying an additional 1,400 shares during the last quarter. Assetmark Inc. purchased a new position in Bicycle Therapeutics during the third quarter valued at $34,000. China Universal Asset Management Co. Ltd. raised its holdings in Bicycle Therapeutics by 69.1% during the third quarter. China Universal Asset Management Co. Ltd. now owns 7,138 shares of the company’s stock valued at $162,000 after acquiring an additional 2,918 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in Bicycle Therapeutics by 0.6% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 888,081 shares of the company’s stock valued at $17,975,000 after acquiring an additional 4,976 shares during the period. 86.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CAO Travis Alvin Thompson sold 6,256 shares of Bicycle Therapeutics stock in a transaction 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 sale, the chief accounting officer now directly owns 19,241 shares in the company, valued at approximately $483,141.51. This trade represents a 24.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Kevin Lee sold 3,212 shares of the firm’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $22.26, for a total value of $71,499.12. Following the completion of the sale, 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 disclosure for this sale can be found here. Insiders sold a total of 10,840 shares of company stock worth $259,128 in the last ninety days. 8.50% of the stock is owned by insiders.

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.