Bicycle Therapeutics plc (NASDAQ:BCYC) Receives Average Rating of “Moderate Buy” from Analysts

Bicycle Therapeutics plc (NASDAQ:BCYC) has earned an average rating of “Moderate Buy” from the nine brokerages that are presently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $35.25.

Several research analysts have issued reports on BCYC shares. Stephens initiated coverage on Bicycle Therapeutics in a research report on Friday, November 8th. They set an “equal weight” rating and a $25.00 target price for the company. B. Riley cut their price objective 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. HC Wainwright decreased their target price on Bicycle Therapeutics from $55.00 to $33.00 and set a “buy” rating for the company in a research report on Monday, December 16th. Royal Bank of Canada restated an “outperform” rating and issued a $35.00 price target on shares of Bicycle Therapeutics in a report on Friday, November 1st. Finally, JMP Securities decreased their price objective on shares of Bicycle Therapeutics from $32.00 to $26.00 and set a “market outperform” rating for the company in a report on Wednesday, December 18th.

Bicycle Therapeutics Trading Down 6.4 %

BCYC opened at $14.17 on Friday. Bicycle Therapeutics has a 12 month low of $12.17 and a 12 month high of $28.67. The stock has a 50-day moving average of $18.89 and a 200 day moving average of $21.77. The firm has a market cap of $978.38 million, a P/E ratio of -4.31 and a beta of 0.92.

Bicycle Therapeutics (NASDAQ:BCYC) last released its earnings results 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 firm had revenue of $2.68 million for the quarter, compared to the consensus estimate of $6.82 million. Bicycle Therapeutics had a negative return on equity of 27.35% and a negative net margin of 450.64%. The company’s revenue for the quarter was down 50.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($1.26) EPS. On average, research analysts forecast that Bicycle Therapeutics will post -3.05 earnings per share for the current fiscal year.

Insider Buying and Selling at Bicycle Therapeutics

In other news, Director Bros. Advisors Lp Baker purchased 500,000 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was acquired at an average cost of $15.34 per share, with a total value of $7,670,000.00. Following the completion of the transaction, the director now owns 9,995,274 shares in the company, valued at $153,327,503.16. This represents a 5.27 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Travis Alvin Thompson sold 6,256 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $25.11, for a total transaction of $157,088.16. Following the completion of the sale, the chief accounting officer now owns 19,241 shares in the company, valued at $483,141.51. This represents a 24.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 33,933 shares of company stock valued at $549,501. Company insiders own 8.50% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Natixis Advisors LLC purchased a new position in Bicycle Therapeutics in the second quarter worth $261,000. TD Asset Management Inc boosted its position in shares of Bicycle Therapeutics by 76.7% in the 2nd quarter. TD Asset Management Inc now owns 97,186 shares of the company’s stock worth $1,967,000 after purchasing an additional 42,200 shares in the last quarter. Renaissance Technologies LLC grew its stake in Bicycle Therapeutics by 97.2% during the 2nd quarter. Renaissance Technologies LLC now owns 326,800 shares of the company’s stock worth $6,614,000 after buying an additional 161,100 shares during the last quarter. L & S Advisors Inc increased its position in Bicycle Therapeutics by 16.1% during the 2nd quarter. L & S Advisors Inc now owns 58,335 shares of the company’s stock valued at $1,181,000 after buying an additional 8,075 shares in the last quarter. Finally, XTX Topco Ltd purchased a new stake in Bicycle Therapeutics in the second quarter valued at about $206,000. Institutional investors 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.