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

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

A number of research firms have recently issued reports on BCYC. Stephens reissued an “equal weight” rating and issued a $15.00 price target on shares of Bicycle Therapeutics in a research report on Wednesday, January 22nd. HC Wainwright restated a “buy” rating and issued a $33.00 price objective on shares of Bicycle Therapeutics in a report on Wednesday, February 26th. JMP Securities dropped their price objective on Bicycle Therapeutics from $32.00 to $26.00 and set a “market outperform” rating on the stock in a report on Wednesday, December 18th. Needham & Company LLC restated a “buy” rating and issued a $30.00 price objective on shares of Bicycle Therapeutics in a report on Wednesday, February 26th. Finally, B. Riley dropped their price objective on Bicycle Therapeutics from $28.00 to $17.00 and set a “neutral” rating on the stock in a report on Friday, December 13th.

Bicycle Therapeutics Price Performance

NASDAQ BCYC opened at $10.38 on Friday. The company has a 50 day simple moving average of $13.02 and a 200-day simple moving average of $19.10. The firm has a market capitalization of $716.70 million, a price-to-earnings ratio of -3.16 and a beta of 1.12. Bicycle Therapeutics has a 52-week low of $9.99 and a 52-week high of $28.67.

Bicycle Therapeutics (NASDAQ:BCYC) last posted its quarterly earnings results on Tuesday, February 25th. The company reported ($0.75) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.85) by $0.10. The business had revenue of $3.70 million during the quarter, compared to analyst estimates 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 revenue was down 30.2% compared to the same quarter last year. During the same period in the prior year, the firm earned ($1.16) earnings per share. On average, analysts predict that Bicycle Therapeutics will post -3.06 EPS for the current year.

Insider Buying and Selling at Bicycle Therapeutics

In related news, Director Bros. Advisors Lp Baker acquired 985,397 shares of the stock in a transaction dated Friday, December 13th. The shares were acquired at an average price of $13.76 per share, for a total transaction of $13,559,062.72. Following the completion of the purchase, the director now owns 9,537,643 shares in the company, valued at approximately $131,237,967.68. The trade was a 11.52 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Santiago Arroyo sold 4,943 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $14.09, for a total transaction of $69,646.87. Following the completion of the sale, the insider now owns 69,057 shares in the company, valued at approximately $973,013.13. The trade was a 6.68 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 27,677 shares of company stock worth $392,413 over the last 90 days. Insiders own 8.50% of the company’s stock.

Institutional Investors Weigh In On Bicycle Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the stock. L & S Advisors Inc grew its stake in shares of Bicycle Therapeutics by 2.4% in the third quarter. L & S Advisors Inc now owns 59,735 shares of the company’s stock worth $1,352,000 after acquiring an additional 1,400 shares during the last quarter. Assetmark Inc. bought a new position in Bicycle Therapeutics in the third quarter worth $34,000. JPMorgan Chase & Co. lifted its position in Bicycle Therapeutics by 26.8% in the third quarter. JPMorgan Chase & Co. now owns 8,424 shares of the company’s stock worth $191,000 after purchasing an additional 1,782 shares during the period. China Universal Asset Management Co. Ltd. lifted its position in Bicycle Therapeutics by 30.7% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 9,329 shares of the company’s stock worth $131,000 after purchasing an additional 2,191 shares during the period. Finally, Barclays PLC lifted its position in Bicycle Therapeutics by 878.3% in the fourth quarter. Barclays PLC now owns 2,612 shares of the company’s stock worth $37,000 after purchasing an additional 2,345 shares during the period. Institutional investors and hedge funds own 86.15% of the company’s stock.

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.