Bicycle Therapeutics plc (NASDAQ:BCYC) Receives $40.13 Average Price Target from Analysts

Bicycle Therapeutics plc (NASDAQ:BCYC) has received an average rating of “Moderate Buy” from the nine brokerages that are currently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $40.13.

Several equities analysts have commented on BCYC shares. JMP Securities reiterated a “market outperform” rating and issued a $32.00 price objective on shares of Bicycle Therapeutics in a report on Monday, September 16th. Royal Bank of Canada reissued an “outperform” rating and issued a $35.00 target price on shares of Bicycle Therapeutics in a research report on Friday, November 1st. HC Wainwright reissued a “buy” rating and issued a $55.00 target price on shares of Bicycle Therapeutics in a research report on Friday, November 1st. Stephens initiated coverage on shares of Bicycle Therapeutics in a research report on Friday, November 8th. They issued an “equal weight” rating and a $25.00 target price for the company. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Bicycle Therapeutics in a research report on Monday, September 9th.

Bicycle Therapeutics Trading Up 1.4 %

Shares of BCYC opened at $20.54 on Thursday. The company has a market cap of $976.68 million, a price-to-earnings ratio of -6.24 and a beta of 0.89. Bicycle Therapeutics has a 1-year low of $13.31 and a 1-year high of $28.67. The company’s fifty day simple moving average is $23.97 and its 200 day simple moving average is $23.04.

Bicycle Therapeutics (NASDAQ:BCYC) last released its quarterly earnings data on Thursday, October 31st. The company reported ($0.74) EPS for the quarter, beating the consensus estimate 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 firm had revenue of $2.68 million for the quarter, compared to the consensus estimate of $6.82 million. During the same period in the previous year, the company earned ($1.26) earnings per share. The company’s quarterly revenue was down 50.0% on a year-over-year basis. As a group, research analysts forecast that Bicycle Therapeutics will post -3.07 earnings per share for the current year.

Insider Transactions at Bicycle Therapeutics

In other news, CEO Kevin Lee sold 3,212 shares of the company’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $22.26, for a total value of $71,499.12. Following the completion of the transaction, the chief executive officer now owns 380,864 shares of the company’s stock, valued at $8,478,032.64. This represents a 0.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Travis Alvin Thompson sold 6,256 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were 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 directly owns 19,241 shares of the company’s stock, valued at $483,141.51. This represents a 24.54 % decrease in their position. 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. 8.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

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

Bicycle Therapeutics Company Profile

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.