Bicycle Therapeutics (NASDAQ:BCYC) Price Target Lowered to $17.00 at B. Riley

Bicycle Therapeutics (NASDAQ:BCYC) had its price target cut by B. Riley from $28.00 to $17.00 in a report issued on Friday,Benzinga reports. They currently have a neutral rating on the stock.

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

Bicycle Therapeutics Price Performance

Shares of BCYC opened at $13.81 on Friday. Bicycle Therapeutics has a one year low of $12.17 and a one year high of $28.67. The company has a 50-day simple moving average of $22.78 and a two-hundred day simple moving average of $22.76. The firm has a market capitalization of $953.58 million, a PE ratio of -4.20 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 for the quarter, beating the consensus estimate of ($0.78) by $0.04. The company had revenue of $2.68 million for the quarter, compared to analyst estimates of $6.82 million. Bicycle Therapeutics had a negative return on equity of 27.35% and a negative net margin of 450.64%. The firm’s revenue was down 50.0% on a year-over-year basis. During the same period in the previous year, the company posted ($1.26) earnings per share. Analysts expect that Bicycle Therapeutics will post -3.05 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Kevin Lee sold 3,212 shares of the firm’s stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $22.26, for a total transaction of $71,499.12. Following the sale, the chief executive officer now owns 380,864 shares of the company’s stock, valued at $8,478,032.64. This trade represents a 0.84 % decrease in their position. 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 business’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 transaction of $157,088.16. Following the transaction, the chief accounting officer now directly owns 19,241 shares of the company’s stock, valued at $483,141.51. The trade was a 24.54 % decrease in their ownership of the stock. The disclosure for this sale 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.

Institutional Investors Weigh In On Bicycle Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Point72 Asset Management L.P. boosted its stake in shares of Bicycle Therapeutics by 1,438.1% in the 3rd quarter. Point72 Asset Management L.P. now owns 899,799 shares of the company’s stock worth $20,362,000 after buying an additional 841,299 shares during the last quarter. Avoro Capital Advisors LLC bought a new position in Bicycle Therapeutics in the second quarter valued at about $14,168,000. Perceptive Advisors LLC purchased a new position in Bicycle Therapeutics in the second quarter worth about $11,577,000. Principal Financial Group Inc. bought a new stake in shares of Bicycle Therapeutics during the 3rd quarter valued at about $10,028,000. Finally, Westfield Capital Management Co. LP grew its stake in shares of Bicycle Therapeutics by 21.5% during the 3rd quarter. Westfield Capital Management Co. LP now owns 1,850,945 shares of the company’s stock valued at $41,887,000 after purchasing an additional 327,089 shares during the period. Hedge funds and other institutional investors 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.