Bicycle Therapeutics (NASDAQ:BCYC) Price Target Cut to $17.00 by Analysts at B. Riley

Bicycle Therapeutics (NASDAQ:BCYC - Get Free Report) had its target price cut by investment analysts at B. Riley from $28.00 to $17.00 in a report released on Friday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. B. Riley's target price suggests a potential upside of 23.10% from the company's current price.

Other equities analysts also recently issued reports about the stock. JMP Securities restated a "market outperform" rating and set a $32.00 target price on shares of Bicycle Therapeutics in a report on Monday, September 16th. Needham & Company LLC reissued a "buy" rating and set a $38.00 price objective on shares of Bicycle Therapeutics in a research note on Thursday, October 31st. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Bicycle Therapeutics in a research note on Monday, September 9th. Stephens began coverage on Bicycle Therapeutics in a research report on Friday, November 8th. They set an "equal weight" rating and a $25.00 price target for the company. Finally, HC Wainwright reissued a "buy" rating and issued a $55.00 price target 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 given a buy rating to the company. Based on data from MarketBeat.com, Bicycle Therapeutics currently has an average rating of "Moderate Buy" and a consensus target price of $38.75.

Bicycle Therapeutics Trading Down 31.3 %

Shares of NASDAQ:BCYC traded down $6.30 during trading on Friday, hitting $13.81. 5,713,477 shares of the stock were exchanged, compared to its average volume of 388,037. The company has a market cap of $953.58 million, a PE ratio of -4.20 and a beta of 0.86. The company has a fifty day moving average price of $22.78 and a two-hundred day moving average price of $22.75. Bicycle Therapeutics has a 12-month low of $12.17 and a 12-month high of $28.67.

Bicycle Therapeutics (NASDAQ:BCYC - Get Free Report) last posted its earnings results on Thursday, October 31st. The company reported ($0.74) EPS for the quarter, topping analysts' consensus estimates 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 company had revenue of $2.68 million for the quarter, compared to the consensus estimate of $6.82 million. During the same period in the previous year, the business earned ($1.26) earnings per share. Bicycle Therapeutics's quarterly revenue was down 50.0% compared to the same quarter last year. Equities research analysts anticipate that Bicycle Therapeutics will post -3.05 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Kevin Lee sold 3,212 shares of the firm's stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $22.26, for a total value of $71,499.12. Following the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Travis Alvin Thompson sold 6,256 shares of the business's stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $25.11, for a total transaction of $157,088.16. Following the completion of the sale, the chief accounting officer now owns 19,241 shares of the company's stock, valued at approximately $483,141.51. The trade was a 24.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 10,840 shares of company stock valued at $259,128 over the last quarter. Company insiders own 8.50% of the company's stock.

Institutional Trading of Bicycle Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the company. Armistice Capital LLC raised its holdings in Bicycle Therapeutics by 17.9% in the second quarter. Armistice Capital LLC now owns 1,972,000 shares of the company's stock valued at $39,913,000 after buying an additional 300,000 shares during the period. Westfield Capital Management Co. LP raised its stake in shares of Bicycle Therapeutics by 21.5% in the 3rd quarter. Westfield Capital Management Co. LP now owns 1,850,945 shares of the company's stock valued at $41,887,000 after acquiring an additional 327,089 shares during the period. First Light Asset Management LLC lifted its holdings in shares of Bicycle Therapeutics by 16.1% during the 2nd quarter. First Light Asset Management LLC now owns 1,384,768 shares of the company's stock valued at $28,028,000 after acquiring an additional 191,717 shares in the last quarter. Point72 Asset Management L.P. boosted its position in Bicycle Therapeutics by 1,438.1% during the 3rd quarter. Point72 Asset Management L.P. now owns 899,799 shares of the company's stock worth $20,362,000 after purchasing an additional 841,299 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in Bicycle Therapeutics by 0.6% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 888,081 shares of the company's stock worth $17,975,000 after purchasing an additional 4,976 shares during the period. 86.15% of the stock is currently owned by institutional investors and hedge funds.

About Bicycle Therapeutics

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.