B. Riley Issues Pessimistic Forecast for Bicycle Therapeutics (NASDAQ:BCYC) Stock Price

Bicycle Therapeutics (NASDAQ:BCYC) had its price objective cut by research analysts at B. Riley from $28.00 to $17.00 in a report released on Friday,Benzinga reports. The firm presently has a “neutral” rating on the stock. B. Riley’s price target would suggest a potential upside of 23.10% from the stock’s previous close.

Several other equities research analysts also recently weighed in on BCYC. Cantor Fitzgerald reissued an “overweight” rating on shares of Bicycle Therapeutics in a research note on Monday, September 9th. HC Wainwright reaffirmed a “buy” rating and issued a $55.00 price target on shares of Bicycle Therapeutics in a research note on Friday, November 1st. 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. JMP Securities reaffirmed a “market outperform” rating and issued a $32.00 price target on shares of Bicycle Therapeutics in a research note on Monday, September 16th. Finally, 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. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Bicycle Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $38.75.

Bicycle Therapeutics Stock Down 31.3 %

BCYC opened at $13.81 on Friday. The firm has a 50 day moving average price of $22.78 and a 200-day moving average price of $22.75. Bicycle Therapeutics has a twelve month low of $12.17 and a twelve month high of $28.67. The stock has a market capitalization of $953.58 million, a price-to-earnings ratio of -4.20 and a beta of 0.86.

Bicycle Therapeutics (NASDAQ:BCYC) last posted its quarterly earnings results on Thursday, October 31st. The company reported ($0.74) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.78) by $0.04. The business had revenue of $2.68 million during the quarter, compared to analyst estimates of $6.82 million. Bicycle Therapeutics had a negative net margin of 450.64% and a negative return on equity of 27.35%. The company’s revenue was down 50.0% on a year-over-year basis. During the same period in the prior year, the business posted ($1.26) earnings per share. As a group, analysts expect that Bicycle Therapeutics will post -3.05 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Kevin Lee sold 3,212 shares of the business’s stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $22.26, for a total value of $71,499.12. Following the sale, the chief executive officer now directly owns 380,864 shares in the company, valued at approximately $8,478,032.64. The trade was a 0.84 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Travis Alvin Thompson sold 6,256 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $25.11, for a total transaction of $157,088.16. Following the sale, the chief accounting officer now 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. In the last ninety days, insiders sold 10,840 shares of company stock valued at $259,128. 8.50% of the stock is owned by insiders.

Institutional Trading of Bicycle Therapeutics

Large investors have recently made changes to their positions in the company. Assetmark Inc. acquired a new position in Bicycle Therapeutics in the third quarter valued at approximately $34,000. GAMMA Investing LLC boosted its holdings in shares of Bicycle Therapeutics by 105.1% in the third 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 period. China Universal Asset Management Co. Ltd. boosted its holdings in shares of Bicycle Therapeutics by 69.1% in the third 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 period. XTX Topco Ltd acquired a new stake in shares of Bicycle Therapeutics in the second quarter valued at approximately $206,000. Finally, Crossmark Global Holdings Inc. acquired a new stake in shares of Bicycle Therapeutics in the third quarter valued at approximately $257,000. 86.15% of the stock is currently owned by hedge funds and other institutional investors.

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.