B. Riley Cuts Bicycle Therapeutics (NASDAQ:BCYC) Price Target to $17.00

Bicycle Therapeutics (NASDAQ:BCYC) had its price target decreased by B. Riley from $28.00 to $17.00 in a research report released on Friday,Benzinga reports. B. Riley currently has a neutral rating on the stock.

Several other brokerages have also commented on BCYC. HC Wainwright reissued a “buy” rating and set a $55.00 price objective on shares of Bicycle Therapeutics in a report on Friday, November 1st. Cantor Fitzgerald reissued an “overweight” rating on shares of Bicycle Therapeutics in a report on Monday, September 9th. Needham & Company LLC reaffirmed a “buy” rating and set a $38.00 price objective on shares of Bicycle Therapeutics in a report on Thursday, October 31st. Royal Bank of Canada reissued an “outperform” rating and issued a $35.00 target price on shares of Bicycle Therapeutics in a research note on Friday, November 1st. Finally, 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. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Bicycle Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.75.

Bicycle Therapeutics Price Performance

NASDAQ BCYC opened at $13.81 on Friday. The company’s 50 day simple moving average is $22.78 and its two-hundred day simple moving average is $22.76. Bicycle Therapeutics has a 1 year low of $12.17 and a 1 year high of $28.67. The stock has a market capitalization of $953.58 million, a PE ratio of -4.20 and a beta of 0.86.

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

Insiders Place Their Bets

In other Bicycle Therapeutics news, CAO Travis Alvin Thompson sold 6,256 shares of Bicycle Therapeutics stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $25.11, for a total value of $157,088.16. Following the transaction, the chief accounting officer now directly owns 19,241 shares of the company’s stock, valued at $483,141.51. The trade was a 24.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Kevin Lee sold 3,212 shares of the business’s stock in a transaction that occurred on Thursday, October 3rd. The shares were 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 owns 380,864 shares of the company’s stock, valued at $8,478,032.64. The trade was a 0.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 10,840 shares of company stock valued at $259,128 over the last three months. Insiders own 8.50% of the company’s stock.

Institutional Investors Weigh In On Bicycle Therapeutics

Several institutional investors have recently added to or reduced their stakes in BCYC. Armistice Capital LLC raised its stake in shares of Bicycle Therapeutics by 17.9% during the second quarter. Armistice Capital LLC now owns 1,972,000 shares of the company’s stock valued at $39,913,000 after acquiring an additional 300,000 shares during the last quarter. Westfield Capital Management Co. LP raised its position in Bicycle Therapeutics by 21.5% during the 3rd quarter. Westfield Capital Management Co. LP now owns 1,850,945 shares of the company’s stock valued at $41,887,000 after purchasing an additional 327,089 shares during the last quarter. First Light Asset Management LLC lifted its holdings in Bicycle Therapeutics by 16.1% in the 2nd quarter. First Light Asset Management LLC now owns 1,384,768 shares of the company’s stock worth $28,028,000 after buying an additional 191,717 shares during the period. Point72 Asset Management L.P. grew its position in shares of Bicycle Therapeutics by 1,438.1% in the 3rd quarter. Point72 Asset Management L.P. now owns 899,799 shares of the company’s stock worth $20,362,000 after buying an additional 841,299 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in shares of 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 buying an additional 4,976 shares during the period. Hedge funds and other institutional investors own 86.15% of the company’s stock.

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.