Bicycle Therapeutics (NASDAQ:BCYC) Price Target Lowered to $26.00 at JMP Securities

Bicycle Therapeutics (NASDAQ:BCYC) had its price objective trimmed by JMP Securities from $32.00 to $26.00 in a research report released on Wednesday morning,Benzinga reports. The brokerage currently has a market outperform rating on the stock.

BCYC has been the topic of several other reports. Royal Bank of Canada reiterated an “outperform” rating and set a $35.00 price objective on shares of Bicycle Therapeutics in a report on Friday, November 1st. Needham & Company LLC reaffirmed a “buy” rating and set a $38.00 price target on shares of Bicycle Therapeutics in a research note on Thursday, October 31st. Stephens started coverage on shares of Bicycle Therapeutics in a report on Friday, November 8th. They issued an “equal weight” rating and a $25.00 price target on the stock. HC Wainwright cut their target price on Bicycle Therapeutics from $55.00 to $33.00 and set a “buy” rating on the stock in a research report on Monday. Finally, B. Riley reduced their target price on Bicycle Therapeutics from $28.00 to $17.00 and set a “neutral” rating on the stock in a report on Friday, December 13th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.25.

Bicycle Therapeutics Price Performance

BCYC stock traded down $0.18 during midday trading on Wednesday, hitting $15.14. The stock had a trading volume of 98,710 shares, compared to its average volume of 402,914. Bicycle Therapeutics has a 12-month low of $12.17 and a 12-month high of $28.67. The firm has a market cap of $1.05 billion, a PE ratio of -4.60 and a beta of 0.86. The company’s 50-day moving average price is $22.27 and its 200 day moving average price is $22.61.

Bicycle Therapeutics (NASDAQ:BCYC) last released its 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 firm had revenue of $2.68 million during the quarter, compared to analyst estimates of $6.82 million. During the same period in the prior year, the firm posted ($1.26) earnings per share. The business’s quarterly revenue was down 50.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Bicycle Therapeutics will post -3.05 EPS for the current year.

Insider Buying and Selling

In other news, Director Bros. Advisors Lp Baker acquired 985,397 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were bought at an average price of $13.76 per share, for a total transaction of $13,559,062.72. Following the completion of the purchase, the director now directly owns 9,537,643 shares of the company’s stock, valued at approximately $131,237,967.68. This trade represents a 11.52 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Kevin Lee sold 3,212 shares of the company’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $22.26, for a total transaction of $71,499.12. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 10,840 shares of company stock valued at $259,128. Company insiders own 8.50% of the company’s stock.

Institutional Trading of Bicycle Therapeutics

Large investors have recently modified their holdings of the business. Geode Capital Management LLC boosted its holdings in Bicycle Therapeutics by 79.3% in the third quarter. Geode Capital Management LLC now owns 38,335 shares of the company’s stock valued at $868,000 after purchasing an additional 16,958 shares during the last quarter. Jane Street Group LLC raised its position in shares of Bicycle Therapeutics by 35.7% in the 3rd quarter. Jane Street Group LLC now owns 20,180 shares of the company’s stock valued at $457,000 after purchasing an additional 5,310 shares in the last quarter. State Street Corp grew its position 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 in the last quarter. Point72 Asset Management L.P. increased its stake in shares of 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 worth $20,362,000 after buying an additional 841,299 shares during the last quarter. Finally, HighVista Strategies LLC raised its holdings in Bicycle Therapeutics by 9.7% in the third quarter. HighVista Strategies LLC now owns 139,544 shares of the company’s stock valued at $3,158,000 after acquiring an additional 12,289 shares in the last quarter. 86.15% of the stock is currently owned by institutional investors and hedge funds.

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.