Bicycle Therapeutics plc (NASDAQ:BCYC) Receives $29.14 Average Target Price from Analysts

Bicycle Therapeutics plc (NASDAQ:BCYC) has received a consensus rating of “Moderate Buy” from the eight brokerages that are covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $29.14.

Several equities research analysts recently issued reports on the company. HC Wainwright reiterated a “buy” rating and issued a $33.00 price objective on shares of Bicycle Therapeutics in a report on Wednesday, February 26th. Needham & Company LLC reiterated a “buy” rating and set a $30.00 price target on shares of Bicycle Therapeutics in a research note on Tuesday, March 11th. B. Riley reduced their price target on shares of Bicycle Therapeutics from $28.00 to $17.00 and set a “neutral” rating on the stock in a research report on Friday, December 13th. JMP Securities dropped their price objective on shares of 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, Stephens reiterated an “equal weight” rating and set a $15.00 target price on shares of Bicycle Therapeutics in a report on Wednesday, January 22nd.

Bicycle Therapeutics Price Performance

Shares of BCYC stock opened at $8.97 on Wednesday. Bicycle Therapeutics has a 1-year low of $8.60 and a 1-year high of $28.67. The firm has a market cap of $620.74 million, a PE ratio of -2.73 and a beta of 1.12. The company has a 50-day moving average of $11.32 and a two-hundred day moving average of $17.59.

Bicycle Therapeutics (NASDAQ:BCYC) last posted its quarterly earnings data on Tuesday, February 25th. The company reported ($0.75) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.85) by $0.10. The firm had revenue of $3.70 million during the quarter, compared to analysts’ expectations of $5.47 million. Bicycle Therapeutics had a negative net margin of 450.64% and a negative return on equity of 27.35%. The firm’s quarterly revenue was down 30.2% on a year-over-year basis. During the same quarter last year, the company posted ($1.16) EPS. Sell-side analysts anticipate that Bicycle Therapeutics will post -3.06 EPS for the current fiscal year.

Insiders Place Their Bets

In other Bicycle Therapeutics news, CAO Travis Alvin Thompson sold 2,686 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $15.00, for a total transaction of $40,290.00. Following the transaction, the chief accounting officer now owns 32,146 shares of the company’s stock, valued at approximately $482,190. This trade represents a 7.71 % 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, COO Alistair Milnes sold 4,578 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $14.09, for a total value of $64,504.02. Following the completion of the sale, the chief operating officer now directly owns 100,724 shares of the company’s stock, valued at approximately $1,419,201.16. This trade represents a 4.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 27,677 shares of company stock worth $392,413 in the last 90 days. Corporate insiders own 8.50% of the company’s stock.

Hedge Funds Weigh In On Bicycle Therapeutics

A number of institutional investors have recently modified their holdings of BCYC. Barclays PLC increased its stake in Bicycle Therapeutics by 878.3% in the fourth quarter. Barclays PLC now owns 2,612 shares of the company’s stock valued at $37,000 after purchasing an additional 2,345 shares during the period. Avior Wealth Management LLC acquired a new position in Bicycle Therapeutics in the 4th quarter valued at about $57,000. China Universal Asset Management Co. Ltd. raised its stake in Bicycle Therapeutics by 30.7% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 9,329 shares of the company’s stock valued at $131,000 after acquiring an additional 2,191 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Bicycle Therapeutics by 26.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 8,424 shares of the company’s stock worth $191,000 after acquiring an additional 1,782 shares during the period. Finally, Erste Asset Management GmbH purchased a new position in shares of Bicycle Therapeutics in the 3rd quarter valued at approximately $325,000. 86.15% of the stock is owned by institutional investors and hedge funds.

About Bicycle Therapeutics

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.