Bicycle Therapeutics (NASDAQ:BCYC) Coverage Initiated at Stephens

Equities research analysts at Stephens assumed coverage on shares of Bicycle Therapeutics (NASDAQ:BCYC) in a report released on Friday, MarketBeat Ratings reports. The firm set an “equal weight” rating and a $25.00 price target on the stock. Stephens’ target price would indicate a potential upside of 0.16% from the company’s current price.

A number of other equities analysts also recently weighed in on BCYC. B. Riley downgraded shares of Bicycle Therapeutics from a “buy” rating to a “neutral” rating and cut their price target for the stock from $33.00 to $28.00 in a report on Wednesday, August 7th. 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 reaffirmed an “outperform” rating and set a $35.00 price objective on shares of Bicycle Therapeutics in a report on Friday, November 1st. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Bicycle Therapeutics in a report on Monday, September 9th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $32.00 price objective on shares of Bicycle Therapeutics in a report on Monday, September 16th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Bicycle Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.13.

Bicycle Therapeutics Stock Performance

Shares of NASDAQ:BCYC opened at $24.96 on Friday. The company’s 50-day moving average is $24.39 and its 200 day moving average is $23.16. The company has a market capitalization of $1.19 billion, a P/E ratio of -7.59 and a beta of 0.89. Bicycle Therapeutics has a fifty-two week low of $12.54 and a fifty-two week high of $28.67.

Bicycle Therapeutics (NASDAQ:BCYC) last issued its quarterly earnings results on Thursday, October 31st. The company reported ($0.74) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.78) by $0.04. The company had revenue of $2.68 million for the quarter, compared to the consensus estimate of $6.82 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 50.0% on a year-over-year basis. During the same period in the previous year, the firm earned ($1.26) EPS. As a group, research analysts predict that Bicycle Therapeutics will post -3.01 earnings per share for the current year.

Insider Activity

In other news, CEO Kevin Lee sold 3,212 shares of the company’s stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $22.26, for a total transaction of $71,499.12. Following the sale, the chief executive officer now directly owns 380,864 shares in the company, valued at $8,478,032.64. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders have sold a total of 4,584 shares of company stock worth $102,040 over the last ninety days. Company insiders own 8.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Assetmark Inc. bought a new position in shares of Bicycle Therapeutics in the third quarter worth approximately $34,000. GAMMA Investing LLC increased its position in shares of Bicycle Therapeutics by 105.1% in the third quarter. GAMMA Investing LLC now owns 2,026 shares of the company’s stock worth $46,000 after purchasing an additional 1,038 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its position 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 worth $162,000 after purchasing an additional 2,918 shares during the last quarter. XTX Topco Ltd bought a new position in shares of Bicycle Therapeutics in the second quarter worth approximately $206,000. Finally, Crossmark Global Holdings Inc. bought a new position in shares of Bicycle Therapeutics in the third quarter worth approximately $257,000. 86.15% of the stock is currently owned by institutional investors.

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.