Bicycle Therapeutics plc (NASDAQ:BCYC) Receives Average Recommendation of “Moderate Buy” from Brokerages

Bicycle Therapeutics plc (NASDAQ:BCYC) has been assigned a consensus rating of “Moderate Buy” from the eight ratings firms that are presently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $29.14.

Several equities analysts have recently commented on BCYC shares. JMP Securities lowered their price target on shares of Bicycle Therapeutics from $32.00 to $26.00 and set a “market outperform” rating for the company in a research report on Wednesday, December 18th. B. Riley lowered 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 report on Friday, December 13th. HC Wainwright reiterated a “buy” rating and issued a $33.00 target price on shares of Bicycle Therapeutics in a research report on Wednesday, February 26th. Needham & Company LLC reiterated 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 target price on shares of Bicycle Therapeutics in a research report on Wednesday, January 22nd.

Insider Activity

In other news, CAO Travis Alvin Thompson sold 2,686 shares of the firm’s stock in a transaction dated 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 trade represents a 7.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Santiago Arroyo sold 4,943 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $14.09, for a total transaction of $69,646.87. Following the transaction, the insider now owns 69,057 shares of the company’s stock, valued at approximately $973,013.13. This trade represents a 6.68 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 27,677 shares of company stock worth $392,413. Corporate insiders own 8.50% of the company’s stock.

Institutional Trading of Bicycle Therapeutics

A number of hedge funds have recently bought and sold shares of the company. Point72 Asset Management L.P. lifted its stake in Bicycle Therapeutics by 406.2% during the fourth quarter. Point72 Asset Management L.P. now owns 4,554,900 shares of the company’s stock valued at $63,769,000 after buying an additional 3,655,101 shares in the last quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Bicycle Therapeutics by 43.3% during the fourth quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 80,236 shares of the company’s stock valued at $1,123,000 after buying an additional 24,260 shares in the last quarter. Millennium Management LLC purchased a new stake in Bicycle Therapeutics during the fourth quarter valued at about $2,475,000. Fcpm Iii Services B.V. lifted its stake in Bicycle Therapeutics by 47.5% during the fourth quarter. Fcpm Iii Services B.V. now owns 3,452,330 shares of the company’s stock valued at $48,333,000 after buying an additional 1,112,369 shares in the last quarter. Finally, Caption Management LLC purchased a new stake in Bicycle Therapeutics during the fourth quarter valued at about $2,283,000. 86.15% of the stock is owned by hedge funds and other institutional investors.

Bicycle Therapeutics Stock Performance

Bicycle Therapeutics stock opened at $10.38 on Friday. The company has a 50-day simple moving average of $13.02 and a 200-day simple moving average of $19.10. The firm has a market capitalization of $716.70 million, a P/E ratio of -3.16 and a beta of 1.12. Bicycle Therapeutics has a one year low of $9.99 and a one year high of $28.67.

Bicycle Therapeutics (NASDAQ:BCYC) last released its quarterly earnings results on Tuesday, February 25th. The company reported ($0.75) EPS for the quarter, topping the consensus estimate of ($0.85) by $0.10. The business 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 quarterly revenue was down 30.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($1.16) earnings per share. As a group, sell-side analysts forecast that Bicycle Therapeutics will post -3.06 earnings per share 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.