Bicycle Therapeutics (NASDAQ:BCYC) Shares Gap Down After Analyst Downgrade

Shares of Bicycle Therapeutics plc (NASDAQ:BCYC) gapped down prior to trading on Friday after B. Riley lowered their price target on the stock from $28.00 to $17.00. The stock had previously closed at $20.11, but opened at $17.29. B. Riley currently has a neutral rating on the stock. Bicycle Therapeutics shares last traded at $15.28, with a volume of 295,114 shares traded.

A number of other brokerages have also recently issued reports on BCYC. Stephens started coverage on Bicycle Therapeutics in a report on Friday, November 8th. They issued an “equal weight” rating and a $25.00 target price for the company. Royal Bank of Canada reissued an “outperform” rating and set a $35.00 price objective on shares of Bicycle Therapeutics in a report on Friday, November 1st. JMP Securities reaffirmed a “market outperform” rating and issued a $32.00 target price on shares of Bicycle Therapeutics in a report on Monday, September 16th. HC Wainwright reissued a “buy” rating and set a $55.00 price target on shares of Bicycle Therapeutics in a report on Friday, November 1st. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Bicycle Therapeutics in a research note on Monday, September 9th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $38.75.

Insiders Place Their Bets

In other news, CEO Kevin Lee sold 3,212 shares of the company’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $22.26, for a total transaction of $71,499.12. Following 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Travis Alvin Thompson sold 6,256 shares of the firm’s stock in a transaction dated 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 owns 19,241 shares in the company, valued at approximately $483,141.51. This represents a 24.54 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, 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

A number of institutional investors and hedge funds have recently modified their holdings of the business. GAMMA Investing LLC increased its holdings in Bicycle Therapeutics by 105.1% in the third quarter. GAMMA Investing LLC now owns 2,026 shares of the company’s stock valued at $46,000 after purchasing an additional 1,038 shares during the last quarter. L & S Advisors Inc increased its stake in shares of Bicycle Therapeutics by 2.4% in the 3rd quarter. L & S Advisors Inc now owns 59,735 shares of the company’s stock valued at $1,352,000 after acquiring an additional 1,400 shares during the last quarter. Assetmark Inc. acquired a new stake in shares of Bicycle Therapeutics in the 3rd quarter valued at approximately $34,000. China Universal Asset Management Co. Ltd. boosted its stake in 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. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in 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 purchasing an additional 4,976 shares during the period. 86.15% of the stock is owned by institutional investors.

Bicycle Therapeutics Price Performance

The company’s 50 day simple moving average is $22.78 and its 200 day simple moving average is $22.75. The stock has a market cap of $953.58 million, a P/E ratio of -4.20 and a beta of 0.86.

Bicycle Therapeutics (NASDAQ:BCYC) last released its quarterly earnings data on Thursday, October 31st. The company reported ($0.74) EPS for the quarter, beating analysts’ consensus estimates of ($0.78) by $0.04. The business had revenue of $2.68 million during the quarter, compared to analysts’ expectations of $6.82 million. Bicycle Therapeutics had a negative net margin of 450.64% and a negative return on equity of 27.35%. The firm’s quarterly revenue was down 50.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($1.26) EPS. On average, equities research analysts predict that Bicycle Therapeutics plc will post -3.05 earnings per share 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.