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

Bicycle Therapeutics (NASDAQ:BCYC) had its target price decreased by research analysts at B. Riley from $28.00 to $17.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. B. Riley’s price objective would suggest a potential upside of 22.39% from the company’s previous close.

Several other equities analysts have also issued reports on BCYC. Stephens assumed coverage on shares of Bicycle Therapeutics in a report on Friday, November 8th. They issued an “equal weight” rating and a $25.00 price target for the company. Needham & Company LLC restated a “buy” rating and set a $38.00 price objective on shares of Bicycle Therapeutics in a research note on Thursday, October 31st. Cantor Fitzgerald restated an “overweight” rating on shares of Bicycle Therapeutics in a research note on Monday, September 9th. JMP Securities restated a “market outperform” rating and set a $32.00 price objective on shares of Bicycle Therapeutics in a research note on Monday, September 16th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $35.00 target price on shares of Bicycle Therapeutics in a report on Friday, November 1st. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $38.75.

Bicycle Therapeutics Trading Down 30.9 %

BCYC traded down $6.22 during trading hours on Friday, hitting $13.89. The company’s stock had a trading volume of 3,350,521 shares, compared to its average volume of 376,806. Bicycle Therapeutics has a fifty-two week low of $12.17 and a fifty-two week high of $28.67. The firm has a market capitalization of $959.10 million, a PE ratio of -4.22 and a beta of 0.86. The company has a 50-day simple moving average of $22.98 and a 200 day simple moving average of $22.82.

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

Insider Activity

In other Bicycle Therapeutics news, CEO Kevin Lee sold 3,212 shares of Bicycle Therapeutics stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $22.26, for a total value of $71,499.12. Following the completion of the sale, the chief executive officer now directly owns 380,864 shares of the company’s stock, valued at approximately $8,478,032.64. The trade was a 0.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Travis Alvin Thompson sold 6,256 shares of Bicycle Therapeutics stock in a transaction on 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 directly owns 19,241 shares of the company’s stock, valued at approximately $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. Over the last 90 days, insiders sold 10,840 shares of company stock valued at $259,128. Insiders own 8.50% of the company’s stock.

Institutional Investors Weigh In On Bicycle Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Armistice Capital LLC increased its stake in Bicycle Therapeutics by 17.9% in the second quarter. Armistice Capital LLC now owns 1,972,000 shares of the company’s stock valued at $39,913,000 after purchasing an additional 300,000 shares in the last quarter. Westfield Capital Management Co. LP grew its holdings in shares of 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 valued at $41,887,000 after buying an additional 327,089 shares during the last quarter. First Light Asset Management LLC grew its holdings in shares of Bicycle Therapeutics by 16.1% during the second quarter. First Light Asset Management LLC now owns 1,384,768 shares of the company’s stock valued at $28,028,000 after buying an additional 191,717 shares during the last quarter. Point72 Asset Management L.P. grew its holdings in shares of Bicycle Therapeutics by 1,438.1% during the third quarter. Point72 Asset Management L.P. now owns 899,799 shares of the company’s stock valued at $20,362,000 after buying an additional 841,299 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in shares of Bicycle Therapeutics by 0.6% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 888,081 shares of the company’s stock valued at $17,975,000 after buying an additional 4,976 shares during the last quarter. 86.15% of the stock is owned by institutional investors.

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.