Bicycle Therapeutics (NASDAQ:BCYC) Price Target Cut to $33.00 by Analysts at HC Wainwright

Bicycle Therapeutics (NASDAQ:BCYC) had its price target reduced by HC Wainwright from $55.00 to $33.00 in a research report released on Monday,Benzinga reports. HC Wainwright currently has a buy rating on the stock.

A number of other analysts have also recently commented on the stock. Royal Bank of Canada reiterated 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 reiterated a “market outperform” rating and issued a $32.00 price objective on shares of Bicycle Therapeutics in a report on Monday, September 16th. Needham & Company LLC reaffirmed a “buy” rating and issued a $38.00 target price on shares of Bicycle Therapeutics in a research report on Thursday, October 31st. B. Riley decreased their price objective on Bicycle Therapeutics from $28.00 to $17.00 and set a “neutral” rating on the stock in a report on Friday. Finally, Stephens began coverage on shares of Bicycle Therapeutics in a research report on Friday, November 8th. They set an “equal weight” rating and a $25.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $36.00.

Bicycle Therapeutics Trading Up 9.5 %

Shares of BCYC opened at $15.12 on Monday. The stock has a market capitalization of $1.04 billion, a price-to-earnings ratio of -4.60 and a beta of 0.86. Bicycle Therapeutics has a 12 month low of $12.17 and a 12 month high of $28.67. The firm has a fifty day simple moving average of $22.62 and a 200 day simple moving average of $22.71.

Bicycle Therapeutics (NASDAQ:BCYC) last announced its quarterly earnings data on Thursday, October 31st. The company reported ($0.74) earnings per share for the quarter, beating the consensus estimate of ($0.78) by $0.04. The company had revenue of $2.68 million during the quarter, compared to analysts’ expectations of $6.82 million. Bicycle Therapeutics had a negative return on equity of 27.35% and a negative net margin of 450.64%. Bicycle Therapeutics’s revenue for the quarter was down 50.0% compared to the same quarter last year. During the same quarter last year, the company earned ($1.26) EPS. As a group, research analysts predict that Bicycle Therapeutics will post -3.05 earnings per share for the current fiscal year.

Insider Transactions at Bicycle Therapeutics

In other Bicycle Therapeutics news, CAO Travis Alvin Thompson sold 6,256 shares of the firm’s stock in a transaction that occurred on 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 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 sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Kevin Lee sold 3,212 shares of the business’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $22.26, for a total transaction 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 10,840 shares of company stock valued at $259,128. Company insiders own 8.50% of the company’s stock.

Institutional Investors Weigh In On Bicycle Therapeutics

Hedge funds have recently modified their holdings of the company. Point72 Asset Management L.P. increased its holdings in Bicycle Therapeutics by 1,438.1% in the third quarter. Point72 Asset Management L.P. now owns 899,799 shares of the company’s stock valued at $20,362,000 after purchasing an additional 841,299 shares during the period. Avoro Capital Advisors LLC acquired a new position in shares of Bicycle Therapeutics in the second quarter worth approximately $14,168,000. Perceptive Advisors LLC bought a new stake in Bicycle Therapeutics in the second quarter valued at approximately $11,577,000. Principal Financial Group Inc. acquired a new position in shares of Bicycle Therapeutics in the 3rd quarter worth approximately $10,028,000. Finally, Westfield Capital Management Co. LP raised its stake in Bicycle Therapeutics by 21.5% during the third quarter. Westfield Capital Management Co. LP now owns 1,850,945 shares of the company’s stock worth $41,887,000 after buying an additional 327,089 shares during the last quarter. Institutional investors and hedge funds own 86.15% of the company’s stock.

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.