Bicycle Therapeutics (NASDAQ:BCYC) Shares Gap Down on Analyst Downgrade

Shares of Bicycle Therapeutics plc (NASDAQ:BCYC) gapped down before the market opened on Friday after B. Riley lowered their price target on the stock from $28.00 to $17.00. The stock had previously closed at $20.11, but opened at $17.29. B. Riley currently has a neutral rating on the stock. Bicycle Therapeutics shares last traded at $15.28, with a volume of 295,114 shares traded.

BCYC has been the topic of several other research reports. HC Wainwright restated a “buy” rating and set a $55.00 price objective on shares of Bicycle Therapeutics in a research note on Friday, November 1st. Needham & Company LLC reissued a “buy” rating and set a $38.00 target price on shares of Bicycle Therapeutics in a research note on Thursday, October 31st. Royal Bank of Canada reiterated an “outperform” rating and set a $35.00 price target on shares of Bicycle Therapeutics in a research report on Friday, November 1st. Cantor Fitzgerald restated an “overweight” rating on shares of Bicycle Therapeutics in a research note on Monday, September 9th. Finally, Stephens assumed coverage on shares of Bicycle Therapeutics in a report on Friday, November 8th. They issued an “equal weight” rating and a $25.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $38.75.

Insider Activity

In related news, CEO Kevin Lee sold 3,212 shares of Bicycle Therapeutics stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $22.26, for a total value of $71,499.12. Following the transaction, the chief executive officer now owns 380,864 shares of the company’s stock, valued at approximately $8,478,032.64. This trade represents a 0.84 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Travis Alvin Thompson sold 6,256 shares of the business’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 owns 19,241 shares in the company, valued at approximately $483,141.51. The trade was a 24.54 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 10,840 shares of company stock worth $259,128. Insiders own 8.50% of the company’s stock.

Institutional Trading of Bicycle Therapeutics

Large investors have recently added to or reduced their stakes in the company. Assetmark Inc. purchased a new position in shares of Bicycle Therapeutics during the third quarter valued at $34,000. GAMMA Investing LLC boosted its position in Bicycle Therapeutics by 105.1% during the 3rd quarter. GAMMA Investing LLC now owns 2,026 shares of the company’s stock worth $46,000 after acquiring an additional 1,038 shares during the period. China Universal Asset Management Co. Ltd. grew its stake in Bicycle Therapeutics by 69.1% during the 3rd 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 in the last quarter. XTX Topco Ltd acquired a new position in shares of Bicycle Therapeutics in the 2nd quarter valued at about $206,000. Finally, Crossmark Global Holdings Inc. purchased a new stake in shares of Bicycle Therapeutics in the third quarter worth approximately $257,000. 86.15% of the stock is owned by institutional investors and hedge funds.

Bicycle Therapeutics Price Performance

The firm’s fifty day moving average is $22.78 and its 200 day moving average is $22.75. The firm has a market capitalization of $953.58 million, a price-to-earnings ratio of -4.20 and a beta of 0.86.

Bicycle Therapeutics (NASDAQ:BCYC) last issued 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 company had revenue of $2.68 million during the quarter, compared to analyst estimates of $6.82 million. During the same quarter last year, the business posted ($1.26) EPS. The company’s revenue for the quarter was down 50.0% on a year-over-year basis. Equities research analysts forecast that Bicycle Therapeutics plc 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.