Analysts Set Bicycle Therapeutics plc (NASDAQ:BCYC) Price Target at $38.75

Shares of Bicycle Therapeutics plc (NASDAQ:BCYC) have been given an average rating of “Moderate Buy” by the nine brokerages that are currently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $35.25.

Several equities research analysts recently weighed in on BCYC shares. JMP Securities dropped their price target on Bicycle Therapeutics from $32.00 to $26.00 and set a “market outperform” rating on the stock in a research report on Wednesday, December 18th. HC Wainwright reduced their target price on shares of Bicycle Therapeutics from $55.00 to $33.00 and set a “buy” rating on the stock in a research report on Monday, December 16th. Stephens assumed coverage on shares of Bicycle Therapeutics in a research note on Friday, November 8th. They issued an “equal weight” rating and a $25.00 price target for the company. B. Riley dropped their price objective on shares of Bicycle Therapeutics from $28.00 to $17.00 and set a “neutral” rating on the stock in a research note on Friday, December 13th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $35.00 target price on shares of Bicycle Therapeutics in a report on Friday, November 1st.

Bicycle Therapeutics Trading Down 2.1 %

Shares of NASDAQ BCYC opened at $14.68 on Monday. The firm has a fifty day simple moving average of $21.83 and a two-hundred day simple moving average of $22.49. Bicycle Therapeutics has a 12 month low of $12.17 and a 12 month high of $28.67. The firm has a market capitalization of $1.01 billion, a PE ratio of -4.46 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) earnings per share (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 during the quarter, compared to the consensus estimate of $6.82 million. During the same period in the prior year, the firm earned ($1.26) earnings per share. Bicycle Therapeutics’s revenue was down 50.0% on a year-over-year basis. On average, sell-side analysts predict that Bicycle Therapeutics will post -3.05 earnings per share for the current year.

Insider Buying and Selling

In other Bicycle Therapeutics news, CAO Travis Alvin Thompson sold 6,256 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $25.11, for a total value of $157,088.16. Following the completion of the transaction, the chief accounting officer now owns 19,241 shares of the company’s stock, valued at approximately $483,141.51. The trade was a 24.54 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Bros. Advisors Lp Baker purchased 985,397 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were bought at an average cost of $13.76 per share, for a total transaction of $13,559,062.72. Following the acquisition, the director now owns 9,537,643 shares in the company, valued at approximately $131,237,967.68. The trade was a 11.52 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 10,840 shares of company stock worth $259,128 in the last three months. Insiders own 8.50% of the company’s stock.

Hedge Funds Weigh In On Bicycle Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the company. FMR LLC purchased a new stake in Bicycle Therapeutics during the third quarter valued at $3,406,000. TD Asset Management Inc boosted its holdings in shares of Bicycle Therapeutics by 76.7% in the second quarter. TD Asset Management Inc now owns 97,186 shares of the company’s stock worth $1,967,000 after buying an additional 42,200 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Bicycle Therapeutics by 33.2% during the third quarter. The Manufacturers Life Insurance Company now owns 129,705 shares of the company’s stock valued at $2,935,000 after buying an additional 32,313 shares during the period. Perceptive Advisors LLC purchased a new stake in Bicycle Therapeutics during the second quarter valued at approximately $11,577,000. Finally, Renaissance Technologies LLC raised its position in Bicycle Therapeutics by 97.2% in the second quarter. Renaissance Technologies LLC now owns 326,800 shares of the company’s stock worth $6,614,000 after acquiring an additional 161,100 shares during the period. 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.