Brokerages Set Bicycle Therapeutics plc (NASDAQ:BCYC) Price Target at $44.56

Bicycle Therapeutics plc (NASDAQ:BCYC) has received an average rating of “Moderate Buy” from the nine ratings firms that are presently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $44.56.

A number of brokerages have weighed in on BCYC. B. Riley downgraded Bicycle Therapeutics from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $33.00 to $28.00 in a report on Wednesday, August 7th. Needham & Company LLC restated a “buy” rating and issued a $38.00 target price on shares of Bicycle Therapeutics in a research note on Monday, September 16th. JMP Securities restated a “market outperform” rating and issued a $32.00 target price on shares of Bicycle Therapeutics in a research note on Monday, September 16th. Cantor Fitzgerald restated an “overweight” rating on shares of Bicycle Therapeutics in a research note on Monday, September 9th. Finally, HC Wainwright restated a “buy” rating and issued a $55.00 target price on shares of Bicycle Therapeutics in a research note on Monday, September 16th.

Insider Activity at Bicycle Therapeutics

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 owns 380,864 shares of the company’s stock, valued at approximately $8,478,032.64. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last quarter, insiders have sold 4,584 shares of company stock valued at $102,040. 8.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Bicycle Therapeutics

Hedge funds have recently modified their holdings of the company. GAMMA Investing LLC lifted its position 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 buying an additional 1,038 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its position in shares of Bicycle Therapeutics by 71.4% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 6,859 shares of the company’s stock worth $171,000 after buying an additional 2,858 shares in the last quarter. PNC Financial Services Group Inc. bought a new position in shares of Bicycle Therapeutics during the 4th quarter worth approximately $137,000. PDS Planning Inc bought a new position in shares of Bicycle Therapeutics during the 1st quarter worth approximately $210,000. Finally, XTX Topco Ltd bought a new position in shares of Bicycle Therapeutics during the 2nd quarter worth approximately $206,000. Institutional investors own 86.15% of the company’s stock.

Bicycle Therapeutics Stock Performance

Shares of Bicycle Therapeutics stock opened at $23.53 on Wednesday. The company has a current ratio of 14.77, a quick ratio of 14.77 and a debt-to-equity ratio of 0.01. The business has a 50-day moving average price of $23.34 and a two-hundred day moving average price of $22.87. Bicycle Therapeutics has a 1-year low of $12.54 and a 1-year high of $28.20. The company has a market cap of $1.01 billion, a P/E ratio of -5.29 and a beta of 0.89.

Bicycle Therapeutics (NASDAQ:BCYC) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.77) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.10) by $0.33. Bicycle Therapeutics had a negative return on equity of 32.80% and a negative net margin of 417.88%. The firm had revenue of $9.36 million during the quarter, compared to the consensus estimate of $6.13 million. The firm’s revenue was down 17.9% on a year-over-year basis. As a group, analysts anticipate that Bicycle Therapeutics will post -3.17 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.