B. Riley Expects Weaker Earnings for Bicycle Therapeutics

Bicycle Therapeutics plc (NASDAQ:BCYC) – B. Riley lowered their FY2024 EPS estimates for Bicycle Therapeutics in a research report issued on Monday, November 18th. B. Riley analyst K. Patel now anticipates that the company will earn ($2.83) per share for the year, down from their previous forecast of ($2.33). B. Riley currently has a “Neutral” rating and a $28.00 target price on the stock. The consensus estimate for Bicycle Therapeutics’ current full-year earnings is ($3.01) per share. B. Riley also issued estimates for Bicycle Therapeutics’ Q4 2024 earnings at ($0.80) EPS, FY2025 earnings at ($3.70) EPS, FY2026 earnings at ($4.26) EPS, FY2027 earnings at ($4.26) EPS and FY2028 earnings at ($3.68) EPS.

Other equities analysts also recently issued research reports about the stock. Cantor Fitzgerald reiterated an “overweight” rating on shares of Bicycle Therapeutics in a report on Monday, September 9th. Oppenheimer reaffirmed an “outperform” rating and set a $48.00 price target on shares of Bicycle Therapeutics in a research 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 Thursday, October 31st. Stephens initiated coverage on Bicycle Therapeutics in a report on Friday, November 8th. They issued an “equal weight” rating and a $25.00 price target for the company. Finally, HC Wainwright reaffirmed a “buy” rating and set a $55.00 target price on shares of Bicycle Therapeutics in a report on Friday, November 1st. 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, Bicycle Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $40.13.

Bicycle Therapeutics Stock Performance

Shares of BCYC stock opened at $20.48 on Wednesday. Bicycle Therapeutics has a fifty-two week low of $13.07 and a fifty-two week high of $28.67. The firm has a market capitalization of $973.82 million, a PE ratio of -6.22 and a beta of 0.89. The stock’s 50-day simple moving average is $24.37 and its 200-day simple moving average is $23.10.

Bicycle Therapeutics (NASDAQ:BCYC) last posted its quarterly earnings results on Thursday, October 31st. The company reported ($0.74) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.78) by $0.04. Bicycle Therapeutics had a negative net margin of 450.64% and a negative return on equity of 27.35%. The business had revenue of $2.68 million during the quarter, compared to analysts’ expectations of $6.82 million. During the same quarter last year, the company posted ($1.26) earnings per share. The business’s quarterly revenue was down 50.0% on a year-over-year basis.

Insider Activity

In other news, CEO Kevin Lee sold 3,212 shares of the stock in a transaction on Thursday, October 3rd. The stock was 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 directly owns 380,864 shares in the company, valued at approximately $8,478,032.64. This represents a 0.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Travis Alvin Thompson sold 6,256 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $25.11, for a total transaction of $157,088.16. Following the completion of the transaction, the chief accounting officer now owns 19,241 shares in the company, valued at approximately $483,141.51. This represents a 24.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 10,840 shares of company stock valued at $259,128. 8.50% of the stock is currently owned by insiders.

Institutional Trading of Bicycle Therapeutics

Hedge funds have recently made changes to their positions in the business. Assetmark Inc. purchased a new stake in shares of Bicycle Therapeutics during the third quarter worth $34,000. GAMMA Investing LLC raised its holdings in Bicycle Therapeutics by 105.1% in the third quarter. GAMMA Investing LLC now owns 2,026 shares of the company’s stock valued at $46,000 after acquiring an additional 1,038 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in 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 worth $162,000 after acquiring an additional 2,918 shares during the last quarter. XTX Topco Ltd purchased a new stake in shares of Bicycle Therapeutics in the 2nd quarter valued at approximately $206,000. Finally, Crossmark Global Holdings Inc. acquired a new stake in shares of Bicycle Therapeutics in the 3rd quarter valued at $257,000. Institutional investors and hedge funds 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.