Bicycle Therapeutics plc (NASDAQ:BCYC) Receives $29.14 Consensus Target Price from Brokerages

Bicycle Therapeutics plc (NASDAQ:BCYC) has received a consensus recommendation of “Moderate Buy” from the eight ratings firms that are currently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $29.14.

Several analysts have issued reports on BCYC shares. HC Wainwright restated a “buy” rating and issued a $33.00 target price on shares of Bicycle Therapeutics in a research note on Wednesday, February 26th. Stephens reaffirmed an “equal weight” rating and set a $15.00 price objective on shares of Bicycle Therapeutics in a report on Wednesday, January 22nd. B. Riley cut their target price 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. JMP Securities lowered their price target on shares of Bicycle Therapeutics from $32.00 to $26.00 and set a “market outperform” rating on the stock in a research report on Wednesday, December 18th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $30.00 price objective on shares of Bicycle Therapeutics in a report on Tuesday, March 11th.

Bicycle Therapeutics Stock Performance

Shares of NASDAQ:BCYC opened at $8.97 on Wednesday. The company has a market capitalization of $620.74 million, a P/E ratio of -2.73 and a beta of 1.12. The company’s 50-day moving average is $11.32 and its 200 day moving average is $17.52. Bicycle Therapeutics has a fifty-two week low of $8.60 and a fifty-two week high of $28.67.

Bicycle Therapeutics (NASDAQ:BCYC) last issued its quarterly earnings results on Tuesday, February 25th. The company reported ($0.75) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.85) by $0.10. Bicycle Therapeutics had a negative net margin of 450.64% and a negative return on equity of 27.35%. The company had revenue of $3.70 million during the quarter, compared to analyst estimates of $5.47 million. During the same quarter last year, the business posted ($1.16) EPS. Bicycle Therapeutics’s quarterly revenue was down 30.2% compared to the same quarter last year. As a group, research analysts predict that Bicycle Therapeutics will post -3.06 earnings per share for the current year.

Insider Activity at Bicycle Therapeutics

In other news, COO Alistair Milnes sold 4,578 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $14.09, for a total transaction of $64,504.02. Following the completion of the transaction, the chief operating officer now owns 100,724 shares of the company’s stock, valued at approximately $1,419,201.16. The trade was a 4.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Travis Alvin Thompson sold 2,686 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was 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 ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 27,677 shares of company stock valued at $392,413. Corporate insiders own 8.50% of the company’s stock.

Hedge Funds Weigh In On Bicycle Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Barclays PLC boosted its holdings in shares of Bicycle Therapeutics by 878.3% in the 4th quarter. Barclays PLC now owns 2,612 shares of the company’s stock worth $37,000 after purchasing an additional 2,345 shares in the last quarter. Avior Wealth Management LLC bought a new stake in Bicycle Therapeutics in the 4th quarter worth approximately $57,000. China Universal Asset Management Co. Ltd. boosted its stake in Bicycle Therapeutics by 30.7% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 9,329 shares of the company’s stock worth $131,000 after buying an additional 2,191 shares in the last quarter. JPMorgan Chase & Co. grew its position in Bicycle Therapeutics by 26.8% during the third quarter. JPMorgan Chase & Co. now owns 8,424 shares of the company’s stock valued at $191,000 after acquiring an additional 1,782 shares during the last quarter. Finally, Erste Asset Management GmbH purchased a new position in shares of Bicycle Therapeutics during the third quarter worth approximately $325,000. 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.