Bicycle Therapeutics plc (NASDAQ:BCYC) Receives $38.75 Average PT from Analysts

Bicycle Therapeutics plc (NASDAQ:BCYC) has been given an average recommendation of “Moderate Buy” by the nine research firms that are presently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $35.25.

A number of research firms have recently commented on BCYC. Royal Bank of Canada restated an “outperform” rating and set a $35.00 price objective on shares of Bicycle Therapeutics in a report on Friday, November 1st. HC Wainwright dropped their price target on Bicycle Therapeutics from $55.00 to $33.00 and set a “buy” rating for the company in a research note on Monday, December 16th. Stephens started coverage on Bicycle Therapeutics in a research note on Friday, November 8th. They issued an “equal weight” rating and a $25.00 price objective on the stock. B. Riley decreased their target price on Bicycle Therapeutics from $28.00 to $17.00 and set a “neutral” rating for the company in a report on Friday, December 13th. Finally, JMP Securities cut their price target on shares of Bicycle Therapeutics from $32.00 to $26.00 and set a “market outperform” rating on the stock in a report on Wednesday.

Insider Transactions at Bicycle Therapeutics

In other Bicycle Therapeutics news, CEO Kevin Lee sold 3,212 shares of Bicycle Therapeutics stock in a transaction 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 transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Bros. Advisors Lp Baker bought 500,000 shares of the stock in a transaction on Monday, December 16th. The shares were acquired at an average price of $15.34 per share, with a total value of $7,670,000.00. Following the purchase, the director now owns 9,995,274 shares of the company’s stock, valued at $153,327,503.16. The trade was a 5.27 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 10,840 shares of company stock valued at $259,128. Insiders own 8.50% of the company’s stock.

Institutional Trading of Bicycle Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Point72 Asset Management L.P. increased its position in Bicycle Therapeutics by 1,438.1% in the third 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 period. Avoro Capital Advisors LLC acquired a new stake in shares of Bicycle Therapeutics in the 2nd quarter worth about $14,168,000. Perceptive Advisors LLC bought a new stake in Bicycle Therapeutics in the 2nd quarter valued at about $11,577,000. Principal Financial Group Inc. acquired a new position in Bicycle Therapeutics during the 3rd quarter valued at about $10,028,000. Finally, Westfield Capital Management Co. LP grew its position in Bicycle Therapeutics by 21.5% in the 3rd quarter. Westfield Capital Management Co. LP now owns 1,850,945 shares of the company’s stock worth $41,887,000 after purchasing an additional 327,089 shares during the last quarter. 86.15% of the stock is currently owned by institutional investors and hedge funds.

Bicycle Therapeutics Stock Down 2.1 %

BCYC stock opened at $14.68 on Monday. The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of -4.46 and a beta of 0.86. The stock’s fifty day simple moving average is $21.83 and its 200-day simple moving average is $22.50. Bicycle Therapeutics has a 52-week low of $12.17 and a 52-week high of $28.67.

Bicycle Therapeutics (NASDAQ:BCYC) last posted its quarterly earnings results on Thursday, October 31st. The company reported ($0.74) EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $6.82 million. During the same quarter in the previous year, the business earned ($1.26) EPS. The firm’s revenue was down 50.0% on a year-over-year basis. As a group, analysts anticipate that Bicycle Therapeutics will post -3.05 earnings per share 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.