Bicycle Therapeutics (NASDAQ:BCYC) Trading Down 2.9% Following Analyst Downgrade

Bicycle Therapeutics plc (NASDAQ:BCYC) fell 2.9% during mid-day trading on Thursday after JMP Securities lowered their price target on the stock from $32.00 to $26.00. JMP Securities currently has a market outperform rating on the stock. Bicycle Therapeutics traded as low as $14.75 and last traded at $14.87. 35,474 shares were traded during mid-day trading, a decline of 91% from the average session volume of 402,572 shares. The stock had previously closed at $15.32.

BCYC has been the topic of several other research reports. Needham & Company LLC reiterated a “buy” rating and set a $38.00 price objective on shares of Bicycle Therapeutics in a report on Thursday, October 31st. B. Riley cut their price target on Bicycle Therapeutics from $28.00 to $17.00 and set a “neutral” rating on the stock in a report on Friday, December 13th. 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. Stephens assumed coverage on Bicycle Therapeutics in a report on Friday, November 8th. They issued an “equal weight” rating and a $25.00 target price on the stock. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Bicycle Therapeutics in a research note on Monday, September 9th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Bicycle Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $35.25.

Insider Transactions at Bicycle Therapeutics

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

Hedge Funds Weigh In On Bicycle Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the business. Assetmark Inc. purchased a new stake in shares of Bicycle Therapeutics during the third quarter worth about $34,000. GAMMA Investing LLC increased its stake in shares of Bicycle Therapeutics by 105.1% during the third quarter. GAMMA Investing LLC now owns 2,026 shares of the company’s stock valued at $46,000 after purchasing an additional 1,038 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Bicycle Therapeutics by 69.1% during the third quarter. China Universal Asset Management Co. Ltd. now owns 7,138 shares of the company’s stock valued at $162,000 after purchasing an additional 2,918 shares during the last quarter. XTX Topco Ltd bought a new stake in shares of Bicycle Therapeutics in the 2nd quarter worth approximately $206,000. Finally, Crossmark Global Holdings Inc. purchased a new stake in shares of Bicycle Therapeutics in the 3rd quarter worth approximately $257,000. Institutional investors own 86.15% of the company’s stock.

Bicycle Therapeutics Price Performance

The stock has a 50 day simple moving average of $22.27 and a 200-day simple moving average of $22.61. The firm has a market cap of $1.02 billion, a PE ratio of -4.49 and a beta of 0.86.

Bicycle Therapeutics (NASDAQ:BCYC) last posted its earnings results on Thursday, October 31st. The company reported ($0.74) earnings per share (EPS) for the quarter, beating 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 business had revenue of $2.68 million for the quarter, compared to analysts’ expectations of $6.82 million. During the same quarter in the prior year, the business earned ($1.26) EPS. The business’s revenue for the quarter was down 50.0% compared to the same quarter last year. As a group, equities analysts predict 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.