Bicycle Therapeutics (NASDAQ:BCYC) Trading Down 2.9% on Analyst Downgrade

Shares of Bicycle Therapeutics plc (NASDAQ:BCYC) were down 2.9% during trading on Thursday after JMP Securities lowered their price target on the stock from $32.00 to $26.00. JMP Securities currently has a market outperform rating on the stock. Bicycle Therapeutics traded as low as $14.75 and last traded at $14.87. Approximately 35,474 shares were traded during mid-day trading, a decline of 91% from the average daily volume of 402,572 shares. The stock had previously closed at $15.32.

BCYC has been the topic of a number of other reports. Cantor Fitzgerald restated an “overweight” rating on shares of Bicycle Therapeutics in a research report on Monday, September 9th. HC Wainwright reduced their price objective on shares of Bicycle Therapeutics from $55.00 to $33.00 and set a “buy” rating on the stock in a research report on Monday. 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. B. Riley reduced their price objective on Bicycle Therapeutics from $28.00 to $17.00 and set a “neutral” rating on the stock in a report on Friday, December 13th. Finally, Stephens began coverage on Bicycle Therapeutics in a research report on Friday, November 8th. They set an “equal weight” rating and a $25.00 target price for the company. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Bicycle Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $35.25.

Insider Activity

In related 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 value of $71,499.12. Following the transaction, the chief executive officer now directly owns 380,864 shares of the company’s stock, valued at approximately $8,478,032.64. This trade represents a 0.84 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Bros. Advisors Lp Baker acquired 985,397 shares of the business’s stock in a transaction on Friday, December 13th. The shares were purchased at an average price of $13.76 per share, with a total value of $13,559,062.72. Following the completion of the purchase, the director now owns 9,537,643 shares in the company, valued at $131,237,967.68. This represents a 11.52 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold 10,840 shares of company stock valued at $259,128 in the last ninety days. Insiders own 8.50% of the company’s stock.

Hedge Funds Weigh In On Bicycle Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in BCYC. Assetmark Inc. purchased a new position in shares of Bicycle Therapeutics in the third quarter worth about $34,000. GAMMA Investing LLC boosted its holdings in shares of Bicycle Therapeutics by 105.1% during the 3rd quarter. GAMMA Investing LLC now owns 2,026 shares of the company’s stock worth $46,000 after purchasing an additional 1,038 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its holdings in shares of Bicycle Therapeutics by 69.1% in the third quarter. China Universal Asset Management Co. Ltd. now owns 7,138 shares of the company’s stock valued at $162,000 after purchasing an additional 2,918 shares during the last quarter. XTX Topco Ltd purchased a new stake in Bicycle Therapeutics in the 2nd quarter valued at $206,000. Finally, Crossmark Global Holdings Inc. purchased a new position in Bicycle Therapeutics in the third quarter worth approximately $257,000. Hedge funds and other institutional investors own 86.15% of the company’s stock.

Bicycle Therapeutics Stock Performance

The stock has a market capitalization of $1.02 billion, a PE ratio of -4.49 and a beta of 0.86. The firm’s 50 day moving average is $22.27 and its two-hundred day moving average is $22.61.

Bicycle Therapeutics (NASDAQ:BCYC) last announced its quarterly earnings data on Thursday, October 31st. The company reported ($0.74) earnings per share (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 analysts’ expectations of $6.82 million. During the same period last year, the firm earned ($1.26) earnings per share. The company’s revenue for the quarter was down 50.0% compared to the same quarter last year. On average, analysts anticipate that Bicycle Therapeutics plc will post -3.05 EPS for the current year.

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.