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

Bicycle Therapeutics plc (NASDAQ:BCYC) has been assigned a consensus rating of “Moderate Buy” from the eight research firms that are presently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $29.14.

BCYC has been the topic of several recent analyst reports. Stephens reissued an “equal weight” rating and issued a $15.00 target price on shares of Bicycle Therapeutics in a report on Wednesday, January 22nd. HC Wainwright reaffirmed a “buy” rating and set a $33.00 price objective on shares of Bicycle Therapeutics in a report on Wednesday. JMP Securities reduced their price objective on Bicycle Therapeutics from $32.00 to $26.00 and set a “market outperform” rating on the stock in a report on Wednesday, December 18th. B. Riley reduced 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, December 13th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $35.00 price objective on shares of Bicycle Therapeutics in a report on Friday, November 1st.

Bicycle Therapeutics Trading Down 0.5 %

BCYC stock opened at $10.97 on Friday. Bicycle Therapeutics has a 1-year low of $10.81 and a 1-year high of $28.67. The firm has a market cap of $757.43 million, a P/E ratio of -3.33 and a beta of 0.93. The business’s 50 day moving average is $13.27 and its 200-day moving average is $19.40.

Bicycle Therapeutics (NASDAQ:BCYC) last announced its earnings results on Tuesday, February 25th. The company reported ($0.75) EPS for the quarter, topping the consensus estimate of ($0.85) by $0.10. The business had revenue of $3.70 million for the quarter, compared to the consensus estimate of $5.47 million. Bicycle Therapeutics had a negative return on equity of 27.35% and a negative net margin of 450.64%. Bicycle Therapeutics’s revenue was down 30.2% compared to the same quarter last year. During the same period in the previous year, the business earned ($1.16) EPS. Sell-side analysts forecast that Bicycle Therapeutics will post -3.06 EPS for the current year.

Insider Activity

In other news, Director Bros. Advisors Lp Baker acquired 985,397 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was acquired at an average price of $13.76 per share, for a total transaction of $13,559,062.72. Following the transaction, the director now directly owns 9,537,643 shares in the company, valued at approximately $131,237,967.68. This represents a 11.52 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Travis Alvin Thompson sold 2,686 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $15.00, for a total transaction of $40,290.00. Following the completion of the sale, the chief accounting officer now owns 32,146 shares of the company’s stock, valued at approximately $482,190. This represents a 7.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 27,677 shares of company stock valued at $392,413 in the last 90 days. 8.50% of the stock is owned by company insiders.

Institutional Trading of Bicycle Therapeutics

A number of large investors have recently made changes to their positions in the company. FMR LLC bought a new position in Bicycle Therapeutics during the 3rd quarter worth about $3,406,000. The Manufacturers Life Insurance Company increased its holdings in Bicycle Therapeutics by 33.2% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 129,705 shares of the company’s stock worth $2,935,000 after purchasing an additional 32,313 shares in the last quarter. Principal Financial Group Inc. bought a new position in Bicycle Therapeutics during the 3rd quarter worth about $10,028,000. State Street Corp increased its holdings in Bicycle Therapeutics by 233.5% during the 3rd quarter. State Street Corp now owns 86,271 shares of the company’s stock worth $1,952,000 after purchasing an additional 60,399 shares in the last quarter. Finally, Jane Street Group LLC increased its holdings in Bicycle Therapeutics by 35.7% during the 3rd quarter. Jane Street Group LLC now owns 20,180 shares of the company’s stock worth $457,000 after purchasing an additional 5,310 shares in the last quarter. 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.