Bicycle Therapeutics plc (NASDAQ:BCYC) Receives $35.25 Consensus Price Target from Analysts

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

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

Bicycle Therapeutics Stock Performance

Shares of Bicycle Therapeutics stock opened at $13.31 on Friday. Bicycle Therapeutics has a 1 year low of $12.17 and a 1 year high of $28.67. The firm’s 50-day simple moving average is $18.52 and its 200-day simple moving average is $21.68. The firm has a market cap of $919.00 million, a PE ratio of -4.05 and a beta of 0.92.

Bicycle Therapeutics (NASDAQ:BCYC) last released its earnings results on Thursday, October 31st. The company reported ($0.74) 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 company had revenue of $2.68 million for the quarter, compared to the consensus estimate of $6.82 million. During the same quarter last year, the business posted ($1.26) EPS. Bicycle Therapeutics’s quarterly revenue was down 50.0% compared to the same quarter last year. On average, equities analysts predict that Bicycle Therapeutics will post -3.05 earnings per share for the current year.

Insider Activity at Bicycle Therapeutics

In other news, CAO Travis Alvin Thompson sold 6,256 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $25.11, for a total value of $157,088.16. Following the sale, the chief accounting officer now directly owns 19,241 shares of the company’s stock, 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 document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Kevin Lee sold 9,038 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $14.09, for a total value of $127,345.42. Following the completion of the sale, the chief executive officer now directly owns 495,026 shares in the company, valued at $6,974,916.34. This trade represents a 1.79 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,933 shares of company stock valued at $549,501. 8.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Bicycle Therapeutics

Several hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC grew 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 purchasing an additional 1,038 shares during the period. L & S Advisors Inc grew its position in Bicycle Therapeutics by 2.4% in the third quarter. L & S Advisors Inc now owns 59,735 shares of the company’s stock valued at $1,352,000 after acquiring an additional 1,400 shares during the period. Assetmark Inc. acquired a new position in Bicycle Therapeutics during the third quarter worth $34,000. JPMorgan Chase & Co. lifted its holdings in shares of Bicycle Therapeutics by 26.8% during the third quarter. JPMorgan Chase & Co. now owns 8,424 shares of the company’s stock valued at $191,000 after acquiring an additional 1,782 shares during the period. Finally, China Universal Asset Management Co. Ltd. raised its stake in shares of 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 valued at $162,000 after acquiring an additional 2,918 shares during the last quarter. 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.