Bicycle Therapeutics’ (BCYC) Equal Weight Rating Reaffirmed at Stephens

Bicycle Therapeutics (NASDAQ:BCYC)‘s stock had its “equal weight” rating reiterated by equities research analysts at Stephens in a report issued on Wednesday,Benzinga reports. They currently have a $15.00 price objective on the stock. Stephens’ target price suggests a potential upside of 17.74% from the stock’s previous close.

Several other research firms have also issued reports on BCYC. B. Riley decreased their target price on Bicycle Therapeutics from $28.00 to $17.00 and set a “neutral” rating on the stock in a research note on Friday, December 13th. JMP Securities decreased their target price on Bicycle Therapeutics from $32.00 to $26.00 and set a “market outperform” rating on the stock in a research note on Wednesday, December 18th. Needham & Company LLC reissued a “buy” rating and set a $32.00 target price on shares of Bicycle Therapeutics in a research note on Monday, January 13th. HC Wainwright restated a “buy” rating and set a $33.00 price target on shares of Bicycle Therapeutics in a research note on Monday, January 13th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $35.00 price target on shares of Bicycle Therapeutics in a report on Friday, November 1st. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Bicycle Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $33.25.

Bicycle Therapeutics Trading Down 6.0 %

NASDAQ BCYC traded down $0.82 on Wednesday, reaching $12.74. 123,275 shares of the company were exchanged, compared to its average volume of 331,773. Bicycle Therapeutics has a fifty-two week low of $12.17 and a fifty-two week high of $28.67. The business’s fifty day moving average price is $17.32 and its 200 day moving average price is $21.44. The stock has a market capitalization of $879.70 million, a P/E ratio of -3.87 and a beta of 0.92.

Bicycle Therapeutics (NASDAQ:BCYC) last announced its quarterly earnings results 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 return on equity of 27.35% and a negative net margin of 450.64%. The business had revenue of $2.68 million for the quarter, compared to analyst estimates of $6.82 million. During the same quarter in the prior year, the company posted ($1.26) EPS. The company’s quarterly revenue was down 50.0% on a year-over-year basis. Equities research analysts forecast that Bicycle Therapeutics will post -3.05 earnings per share for the current year.

Insider Activity

In other news, CEO Kevin Lee sold 9,038 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $14.09, for a total value of $127,345.42. Following the completion of the sale, the chief executive officer now owns 495,026 shares of the company’s stock, valued at $6,974,916.34. This represents a 1.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Travis Alvin Thompson sold 2,686 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $15.00, for a total value of $40,290.00. Following the completion of the transaction, the chief accounting officer now directly owns 32,146 shares of the company’s stock, valued at $482,190. This represents a 7.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,933 shares of company stock valued at $549,501 over the last quarter. Company insiders own 8.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of BCYC. Point72 Asset Management L.P. boosted its holdings in Bicycle Therapeutics by 1,438.1% in the third quarter. Point72 Asset Management L.P. now owns 899,799 shares of the company’s stock valued at $20,362,000 after purchasing an additional 841,299 shares during the last quarter. Perceptive Advisors LLC acquired a new stake in Bicycle Therapeutics during the second quarter valued at approximately $11,577,000. Principal Financial Group Inc. acquired a new stake in Bicycle Therapeutics during the third quarter valued at approximately $10,028,000. Westfield Capital Management Co. LP raised its stake in Bicycle Therapeutics by 21.5% during the third quarter. Westfield Capital Management Co. LP now owns 1,850,945 shares of the company’s stock valued at $41,887,000 after buying an additional 327,089 shares in the last quarter. Finally, Armistice Capital LLC raised its stake in Bicycle Therapeutics by 17.9% during the second quarter. Armistice Capital LLC now owns 1,972,000 shares of the company’s stock valued at $39,913,000 after buying an additional 300,000 shares in the last quarter. 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.