Brokerages Set Bicycle Therapeutics plc (NASDAQ:BCYC) Price Target at $29.14

Bicycle Therapeutics plc (NASDAQ:BCYC) has earned a consensus rating of “Moderate Buy” from the eight research firms that are presently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $29.14.

A number of research firms recently issued reports on BCYC. HC Wainwright reiterated a “buy” rating and set a $33.00 price objective on shares of Bicycle Therapeutics in a report on Wednesday, February 26th. B. Riley decreased their price target on shares of Bicycle Therapeutics from $28.00 to $17.00 and set a “neutral” rating for the company in a research note on Friday, December 13th. JMP Securities cut their price objective on shares of 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. Needham & Company LLC reaffirmed a “buy” rating and issued a $30.00 target price on shares of Bicycle Therapeutics in a research report on Wednesday, February 26th. Finally, Stephens reiterated an “equal weight” rating and issued a $15.00 price target on shares of Bicycle Therapeutics in a research note on Wednesday, January 22nd.

Bicycle Therapeutics Stock Performance

Shares of BCYC opened at $10.47 on Friday. The firm has a market cap of $722.91 million, a P/E ratio of -3.18 and a beta of 0.93. Bicycle Therapeutics has a twelve month low of $10.38 and a twelve month high of $28.67. The firm’s 50 day moving average price is $13.19 and its two-hundred day moving average price is $19.27.

Bicycle Therapeutics (NASDAQ:BCYC) last announced its earnings results on Tuesday, February 25th. The company reported ($0.75) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.85) by $0.10. The firm had revenue of $3.70 million during the quarter, compared to analyst estimates of $5.47 million. Bicycle Therapeutics had a negative net margin of 450.64% and a negative return on equity of 27.35%. The company’s revenue for the quarter was down 30.2% compared to the same quarter last year. During the same period in the prior year, the business earned ($1.16) EPS. On average, sell-side analysts anticipate that Bicycle Therapeutics will post -3.06 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Bros. Advisors Lp Baker acquired 985,397 shares of Bicycle Therapeutics stock in a transaction on Friday, December 13th. The stock was purchased at an average cost of $13.76 per share, with a total value of $13,559,062.72. Following the completion of the transaction, the director now directly owns 9,537,643 shares in the company, valued at $131,237,967.68. This trade represents a 11.52 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Travis Alvin Thompson sold 2,686 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $15.00, for a total transaction of $40,290.00. Following the completion of the transaction, the chief accounting officer now owns 32,146 shares in the company, valued at approximately $482,190. This represents a 7.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 27,677 shares of company stock valued at $392,413. 8.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Bicycle Therapeutics

Several hedge funds have recently bought and sold shares of BCYC. L & S Advisors Inc grew its position in shares of Bicycle Therapeutics by 2.4% in the third quarter. L & S Advisors Inc now owns 59,735 shares of the company’s stock valued at $1,352,000 after purchasing an additional 1,400 shares during the last quarter. Assetmark Inc. bought a new stake in shares of Bicycle Therapeutics in the third quarter valued at about $34,000. JPMorgan Chase & Co. grew its stake in shares of Bicycle Therapeutics by 26.8% in the third quarter. JPMorgan Chase & Co. now owns 8,424 shares of the company’s stock valued at $191,000 after acquiring an additional 1,782 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its position in Bicycle Therapeutics by 30.7% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 9,329 shares of the company’s stock worth $131,000 after acquiring an additional 2,191 shares during the period. Finally, Barclays PLC raised its stake in Bicycle Therapeutics by 878.3% in the 4th quarter. Barclays PLC now owns 2,612 shares of the company’s stock worth $37,000 after purchasing an additional 2,345 shares in the last quarter. 86.15% of the stock is currently owned by institutional investors and hedge funds.

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.