Bicycle Therapeutics (NASDAQ:BCYC) Stock Price Down 2.9% on Analyst Downgrade

Shares of Bicycle Therapeutics plc (NASDAQ:BCYC) traded down 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 traded hands during 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 subject of a number of other research reports. HC Wainwright cut their price objective on Bicycle Therapeutics from $55.00 to $33.00 and set a “buy” rating for the company in a research report on Monday. Stephens assumed coverage on Bicycle Therapeutics in a report on Friday, November 8th. They set an “equal weight” rating and a $25.00 price target on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $35.00 price target on shares of Bicycle Therapeutics in a research note on Friday, November 1st. Needham & Company LLC reiterated a “buy” rating and issued a $38.00 target price on shares of Bicycle Therapeutics in a report on Thursday, October 31st. Finally, 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. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $35.25.

Insider Activity at Bicycle Therapeutics

In other news, Director Bros. Advisors Lp Baker acquired 985,397 shares of the company’s stock in a transaction on Friday, December 13th. The shares were bought at an average price of $13.76 per share, with a total value of $13,559,062.72. Following the completion of the acquisition, the director now owns 9,537,643 shares in the company, valued at $131,237,967.68. This trade represents a 11.52 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Kevin Lee sold 3,212 shares of the stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $22.26, for a total transaction of $71,499.12. Following the transaction, the chief executive officer now directly 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,840 shares of company stock worth $259,128. 8.50% of the stock is currently owned by company insiders.

Institutional Trading of Bicycle Therapeutics

Hedge funds have recently bought and sold shares of the company. Assetmark Inc. purchased a new position in Bicycle Therapeutics in the third quarter valued at about $34,000. GAMMA Investing LLC raised 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 in the last quarter. China Universal Asset Management Co. Ltd. raised 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 worth $162,000 after purchasing an additional 2,918 shares during the period. XTX Topco Ltd bought a new position in Bicycle Therapeutics in the second quarter worth about $206,000. Finally, Crossmark Global Holdings Inc. bought a new stake in shares of Bicycle Therapeutics in the 3rd quarter worth approximately $257,000. Institutional investors and hedge funds own 86.15% of the company’s stock.

Bicycle Therapeutics Stock Performance

The stock has a 50 day moving average of $22.27 and a 200 day moving average of $22.61. The stock has a market capitalization of $1.04 billion, a P/E ratio of -4.56 and a beta of 0.86.

Bicycle Therapeutics (NASDAQ:BCYC) last released its quarterly earnings results on Thursday, October 31st. The company reported ($0.74) EPS for the quarter, topping 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 company had revenue of $2.68 million for the quarter, compared to the consensus estimate of $6.82 million. During the same period in the previous year, the firm earned ($1.26) EPS. Bicycle Therapeutics’s revenue was down 50.0% on a year-over-year basis. On average, research analysts anticipate that Bicycle Therapeutics plc will post -3.05 EPS for the current fiscal 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.