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

Shares of Bicycle Therapeutics plc (NASDAQ:BCYC) were down 2.9% during 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. Approximately 35,474 shares traded hands during mid-day trading, a decline of 91% from the average daily volume of 402,572 shares. The stock had previously closed at $15.32.

Several other analysts have also recently commented on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $35.00 price target on shares of Bicycle Therapeutics in a research note on Friday, November 1st. Stephens began coverage on Bicycle Therapeutics in a research report on Friday, November 8th. They issued an “equal weight” rating and a $25.00 target price on the stock. HC Wainwright dropped their price target on Bicycle Therapeutics from $55.00 to $33.00 and set a “buy” rating for the company in a research note on Monday, December 16th. B. Riley cut their price target on Bicycle Therapeutics from $28.00 to $17.00 and set a “neutral” rating for the company in a report on Friday, December 13th. Finally, Needham & Company LLC restated a “buy” rating and set a $38.00 price target on shares of Bicycle Therapeutics in a report on Thursday, October 31st. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $35.25.

Insider Buying and Selling at Bicycle Therapeutics

In other news, CAO Travis Alvin Thompson sold 6,256 shares of Bicycle Therapeutics stock in a transaction that occurred on 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 in the company, valued at approximately $483,141.51. The trade was a 24.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Bros. Advisors Lp Baker bought 500,000 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was bought at an average price of $15.34 per share, with a total value of $7,670,000.00. Following the acquisition, the director now owns 9,995,274 shares in the company, valued at approximately $153,327,503.16. This trade represents a 5.27 % increase in their position. The disclosure for this purchase can be found here. Insiders sold 10,840 shares of company stock worth $259,128 in the last quarter. 8.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Bicycle Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of BCYC. Assetmark Inc. purchased a new position in shares of Bicycle Therapeutics in the 3rd quarter worth approximately $34,000. GAMMA Investing LLC lifted its stake 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 worth $46,000 after acquiring an additional 1,038 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in shares of Bicycle Therapeutics by 69.1% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 7,138 shares of the company’s stock worth $162,000 after acquiring an additional 2,918 shares during the last quarter. XTX Topco Ltd bought a new stake in shares of Bicycle Therapeutics during the 2nd quarter worth approximately $206,000. Finally, Crossmark Global Holdings Inc. bought a new stake in shares of Bicycle Therapeutics during the 3rd quarter worth approximately $257,000. Hedge funds and other institutional investors own 86.15% of the company’s stock.

Bicycle Therapeutics Trading Down 2.1 %

The stock has a market capitalization of $1.01 billion, a P/E ratio of -4.46 and a beta of 0.86. The stock has a 50 day moving average of $21.83 and a 200-day moving average of $22.50.

Bicycle Therapeutics (NASDAQ:BCYC) last issued 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 return on equity of 27.35% and a negative net margin of 450.64%. The firm 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) EPS. Bicycle Therapeutics’s quarterly revenue was down 50.0% compared to the same quarter last year. Research analysts anticipate that Bicycle Therapeutics plc will post -3.05 EPS for the current 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.