Bicycle Therapeutics (NASDAQ:BCYC) Price Target Lowered to $26.00 at JMP Securities

Bicycle Therapeutics (NASDAQ:BCYC) had its target price decreased by JMP Securities from $32.00 to $26.00 in a research note released on Wednesday,Benzinga reports. JMP Securities currently has a market outperform rating on the stock.

Several other analysts also recently commented on the company. HC Wainwright reduced their price objective on Bicycle Therapeutics from $55.00 to $33.00 and set a “buy” rating for the company in a research note on Monday. Needham & Company LLC restated a “buy” rating and set a $38.00 price target on shares of Bicycle Therapeutics in a research note on Thursday, October 31st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $35.00 price target on shares of Bicycle Therapeutics in a report on Friday, November 1st. Cantor Fitzgerald reissued an “overweight” rating on shares of Bicycle Therapeutics in a research note on Monday, September 9th. Finally, B. Riley cut their price objective on shares of Bicycle Therapeutics from $28.00 to $17.00 and set a “neutral” rating for the company in a research report on Friday, December 13th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Bicycle Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $35.25.

Bicycle Therapeutics Price Performance

Shares of BCYC stock traded down $0.18 during trading hours on Wednesday, hitting $15.14. The stock had a trading volume of 98,710 shares, compared to its average volume of 402,914. The stock’s 50 day moving average is $22.27 and its 200 day moving average is $22.61. The firm has a market capitalization of $1.05 billion, a PE ratio of -4.60 and a beta of 0.86. Bicycle Therapeutics has a twelve month low of $12.17 and a twelve month high of $28.67.

Bicycle Therapeutics (NASDAQ:BCYC) last issued its quarterly earnings data on Thursday, October 31st. The company reported ($0.74) earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $6.82 million. During the same period last year, the firm posted ($1.26) EPS. Bicycle Therapeutics’s revenue for the quarter was down 50.0% on a year-over-year basis. As a group, equities analysts predict that Bicycle Therapeutics will post -3.05 earnings per share for the current year.

Insiders Place Their Bets

In related news, CAO Travis Alvin Thompson sold 6,256 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $25.11, for a total value of $157,088.16. Following the sale, the chief accounting officer now directly owns 19,241 shares of the company’s stock, valued at approximately $483,141.51. This represents a 24.54 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Kevin Lee sold 3,212 shares of the firm’s stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $22.26, for a total transaction of $71,499.12. Following the transaction, the chief executive officer now owns 380,864 shares of the company’s stock, valued at $8,478,032.64. This trade represents a 0.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 10,840 shares of company stock worth $259,128. Corporate insiders own 8.50% of the company’s stock.

Institutional Trading of Bicycle Therapeutics

Large investors have recently modified their holdings of the business. FMR LLC acquired a new position in shares of Bicycle Therapeutics during the 3rd quarter worth approximately $3,406,000. TD Asset Management Inc raised its holdings in shares of Bicycle Therapeutics by 76.7% in the second quarter. TD Asset Management Inc now owns 97,186 shares of the company’s stock worth $1,967,000 after acquiring an additional 42,200 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Bicycle Therapeutics by 33.2% in the third quarter. The Manufacturers Life Insurance Company now owns 129,705 shares of the company’s stock worth $2,935,000 after acquiring an additional 32,313 shares during the last quarter. Perceptive Advisors LLC purchased a new stake in shares of Bicycle Therapeutics in the second quarter valued at $11,577,000. Finally, Renaissance Technologies LLC boosted its stake in shares of Bicycle Therapeutics by 97.2% during the second quarter. Renaissance Technologies LLC now owns 326,800 shares of the company’s stock valued at $6,614,000 after acquiring an additional 161,100 shares during the last quarter. 86.15% of the stock is currently 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.