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

Shares of Bicycle Therapeutics plc (NASDAQ:BCYC) have been assigned a consensus recommendation of “Moderate Buy” from the eight brokerages that are covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $29.14.

A number of equities analysts recently weighed in on BCYC shares. Needham & Company LLC reissued a “buy” rating and set a $30.00 target price on shares of Bicycle Therapeutics in a research note on Tuesday, March 11th. HC Wainwright reissued a “buy” rating and issued a $33.00 price objective on shares of Bicycle Therapeutics in a research note on Wednesday, February 26th. B. Riley cut their target price on Bicycle Therapeutics from $28.00 to $17.00 and set a “neutral” rating on the stock in a research report on Friday, December 13th. JMP Securities lowered their target price on Bicycle Therapeutics from $32.00 to $26.00 and set a “market outperform” rating for the company in a report on Wednesday, December 18th. Finally, Stephens restated an “equal weight” rating and set a $15.00 price target on shares of Bicycle Therapeutics in a report on Wednesday, January 22nd.

Insider Activity

In other news, CEO Kevin Lee sold 9,038 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $14.09, for a total transaction of $127,345.42. Following the completion of the sale, the chief executive officer now directly owns 495,026 shares of the company’s stock, valued at $6,974,916.34. The trade was a 1.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Travis Alvin Thompson sold 2,686 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $15.00, for a total transaction of $40,290.00. Following the completion of the sale, the chief accounting officer now owns 32,146 shares in the company, valued at $482,190. This represents a 7.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 27,677 shares of company stock worth $392,413 over the last quarter. 8.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Barclays PLC lifted its stake in Bicycle Therapeutics by 878.3% during the 4th quarter. Barclays PLC now owns 2,612 shares of the company’s stock valued at $37,000 after acquiring an additional 2,345 shares in the last quarter. Avior Wealth Management LLC bought a new position in shares of Bicycle Therapeutics during the fourth quarter valued at about $57,000. JPMorgan Chase & Co. boosted its holdings in Bicycle Therapeutics by 26.8% during 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 last quarter. China Universal Asset Management Co. Ltd. grew its position in Bicycle Therapeutics by 30.7% in the 4th 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 in the last quarter. Finally, Erste Asset Management GmbH purchased a new stake in Bicycle Therapeutics in the 3rd quarter valued at about $325,000. Hedge funds and other institutional investors own 86.15% of the company’s stock.

Bicycle Therapeutics Trading Down 7.5 %

Shares of BCYC stock opened at $7.85 on Wednesday. Bicycle Therapeutics has a 1-year low of $7.85 and a 1-year high of $28.67. The stock has a market cap of $543.24 million, a price-to-earnings ratio of -2.39 and a beta of 1.12. The stock has a 50-day moving average of $11.23 and a 200-day moving average of $17.32.

Bicycle Therapeutics (NASDAQ:BCYC) last released its earnings results on Tuesday, February 25th. The company reported ($0.75) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.85) by $0.10. Bicycle Therapeutics had a negative net margin of 450.64% and a negative return on equity of 27.35%. The business had revenue of $3.70 million during the quarter, compared to the consensus estimate of $5.47 million. During the same quarter in the prior year, the firm posted ($1.16) EPS. The company’s revenue for the quarter was down 30.2% compared to the same quarter last year. Sell-side analysts forecast that Bicycle Therapeutics will post -3.06 earnings per share for the current year.

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.