Bicycle Therapeutics plc (NASDAQ:BCYC) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Bicycle Therapeutics plc (NASDAQ:BCYC) have been assigned a consensus rating of “Moderate Buy” from the nine analysts that are covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $40.13.

A number of analysts recently commented on BCYC shares. Needham & Company LLC reaffirmed a “buy” rating and issued 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 issued a $35.00 price target on shares of Bicycle Therapeutics in a research note on Friday, November 1st. HC Wainwright reissued a “buy” rating and set a $55.00 price objective on shares of Bicycle Therapeutics in a research report on Friday, November 1st. Stephens began coverage on Bicycle Therapeutics in a research report on Friday, November 8th. They set an “equal weight” rating and a $25.00 price objective for the company. Finally, Oppenheimer reissued an “outperform” rating and set a $48.00 price objective on shares of Bicycle Therapeutics in a research report on Wednesday, August 7th.

Bicycle Therapeutics Trading Down 0.6 %

BCYC stock opened at $20.36 on Thursday. The company’s 50 day moving average is $24.37 and its 200 day moving average is $23.10. The stock has a market cap of $968.12 million, a price-to-earnings ratio of -6.19 and a beta of 0.89. Bicycle Therapeutics has a 1-year low of $13.07 and a 1-year high of $28.67.

Bicycle Therapeutics (NASDAQ:BCYC) last issued its quarterly earnings results on Thursday, October 31st. The company reported ($0.74) EPS for the quarter, beating analysts’ consensus estimates 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 period last year, the business earned ($1.26) earnings per share. The business’s quarterly revenue was down 50.0% on a year-over-year basis. As a group, sell-side analysts forecast that Bicycle Therapeutics will post -3.01 EPS for the current fiscal year.

Insider Activity

In related news, CAO Travis Alvin Thompson sold 6,256 shares of the business’s 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 completion of the transaction, the chief accounting officer now directly owns 19,241 shares in the company, valued at approximately $483,141.51. The trade was a 24.54 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Kevin Lee sold 3,212 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 380,864 shares of the company’s stock, valued at approximately $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. Insiders sold 10,840 shares of company stock valued at $259,128 in the last quarter. 8.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BCYC. Assetmark Inc. bought a new position in shares of Bicycle Therapeutics during the 3rd quarter valued at approximately $34,000. GAMMA Investing LLC boosted its position in shares of Bicycle Therapeutics by 105.1% during the 3rd quarter. GAMMA Investing LLC now owns 2,026 shares of the company’s stock valued at $46,000 after acquiring an additional 1,038 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its position in shares of Bicycle Therapeutics by 69.1% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 7,138 shares of the company’s stock valued at $162,000 after acquiring an additional 2,918 shares during the last quarter. XTX Topco Ltd bought a new position in shares of Bicycle Therapeutics during the 2nd quarter valued at approximately $206,000. Finally, Crossmark Global Holdings Inc. bought a new position in shares of Bicycle Therapeutics during the 3rd quarter valued at approximately $257,000. 86.15% of the stock is currently owned by institutional investors.

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.