Brokerages Set Bicycle Therapeutics plc (NASDAQ:BCYC) PT at $35.25

Shares of Bicycle Therapeutics plc (NASDAQ:BCYC) have earned a consensus rating of “Moderate Buy” from the nine research firms that are currently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $34.50.

Several brokerages have issued reports on BCYC. Stephens began coverage on shares of Bicycle Therapeutics in a research report on Friday, November 8th. They set an “equal weight” rating and a $25.00 price objective for the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $35.00 target price on shares of Bicycle Therapeutics in a report on Friday, November 1st. JMP Securities lowered their target price on shares of Bicycle Therapeutics from $32.00 to $26.00 and set a “market outperform” rating on the stock in a report on Wednesday, December 18th. HC Wainwright reaffirmed a “buy” rating and set a $33.00 target price on shares of Bicycle Therapeutics in a report on Monday. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $32.00 target price on shares of Bicycle Therapeutics in a report on Monday.

Bicycle Therapeutics Stock Down 6.6 %

Shares of BCYC stock opened at $13.59 on Friday. The firm has a 50 day moving average price of $17.77 and a two-hundred day moving average price of $21.51. The company has a market capitalization of $938.34 million, a PE ratio of -4.13 and a beta of 0.92. Bicycle Therapeutics has a 12-month low of $12.17 and a 12-month high of $28.67.

Bicycle Therapeutics (NASDAQ:BCYC) last issued its quarterly earnings data on Thursday, October 31st. The company reported ($0.74) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.78) by $0.04. The firm had revenue of $2.68 million during the quarter, compared to the consensus estimate of $6.82 million. Bicycle Therapeutics had a negative net margin of 450.64% and a negative return on equity of 27.35%. The business’s revenue for the quarter was down 50.0% compared to the same quarter last year. During the same period last year, the business posted ($1.26) earnings per share. As a group, research analysts expect that Bicycle Therapeutics will post -3.05 EPS for the current year.

Insider Activity at Bicycle Therapeutics

In related news, CAO Travis Alvin Thompson sold 6,256 shares of Bicycle Therapeutics 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 transaction, the chief accounting officer now directly owns 19,241 shares of the company’s stock, valued at $483,141.51. This trade represents a 24.54 % 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, insider Santiago Arroyo sold 4,943 shares of Bicycle Therapeutics stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $14.09, for a total transaction of $69,646.87. Following the completion of the transaction, the insider now directly owns 69,057 shares in the company, valued at $973,013.13. This trade represents a 6.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 33,933 shares of company stock valued at $549,501 over the last three months. 8.50% of the stock is owned by insiders.

Institutional Trading of Bicycle Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. FMR LLC bought a new stake in shares of Bicycle Therapeutics during the third quarter worth $3,406,000. TD Asset Management Inc grew its stake in shares of Bicycle Therapeutics by 76.7% during the second quarter. TD Asset Management Inc now owns 97,186 shares of the company’s stock worth $1,967,000 after buying an additional 42,200 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Bicycle Therapeutics by 33.2% during the third quarter. The Manufacturers Life Insurance Company now owns 129,705 shares of the company’s stock worth $2,935,000 after buying an additional 32,313 shares during the last quarter. Principal Financial Group Inc. bought a new stake in shares of Bicycle Therapeutics during the third quarter worth $10,028,000. Finally, State Street Corp grew its stake in shares of Bicycle Therapeutics by 233.5% during the third quarter. State Street Corp now owns 86,271 shares of the company’s stock worth $1,952,000 after buying an additional 60,399 shares during the last quarter. Institutional investors own 86.15% of the company’s stock.

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.