Bicycle Therapeutics (NASDAQ:BCYC) Price Target Cut to $33.00 by Analysts at HC Wainwright

Bicycle Therapeutics (NASDAQ:BCYC - Free Report) had its target price lowered by HC Wainwright from $55.00 to $33.00 in a research report released on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other research firms have also weighed in on BCYC. Royal Bank of Canada reissued an "outperform" rating and set a $35.00 price objective on shares of Bicycle Therapeutics in a research note on Friday, November 1st. Needham & Company LLC restated a "buy" rating and set a $38.00 target price on shares of Bicycle Therapeutics in a report on Thursday, October 31st. Cantor Fitzgerald reiterated an "overweight" rating on shares of Bicycle Therapeutics in a research note on Monday, September 9th. B. Riley decreased their price objective on Bicycle Therapeutics from $28.00 to $17.00 and set a "neutral" rating for the company in a report on Friday. Finally, Stephens began coverage on Bicycle Therapeutics in a research report on Friday, November 8th. They issued an "equal weight" rating and a $25.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $36.00.

Bicycle Therapeutics Stock Performance

Shares of NASDAQ BCYC traded up $1.31 during mid-day trading on Monday, reaching $15.12. The company had a trading volume of 1,963,903 shares, compared to its average volume of 394,561. The company has a market capitalization of $1.04 billion, a price-to-earnings ratio of -4.60 and a beta of 0.86. The stock has a fifty day moving average of $22.62 and a two-hundred day moving average of $22.71. 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 announced its 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 for the quarter, compared to analyst estimates of $6.82 million. During the same quarter in the previous year, the firm posted ($1.26) earnings per share. Bicycle Therapeutics's revenue was down 50.0% compared to the same quarter last year. Sell-side analysts forecast that Bicycle Therapeutics will post -3.05 earnings per share for the current fiscal year.

Insider Activity at Bicycle Therapeutics

In other Bicycle Therapeutics news, CEO Kevin Lee sold 3,212 shares of the company's 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 sale, the chief executive officer now directly owns 380,864 shares in the company, valued at $8,478,032.64. This represents a 0.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Travis Alvin Thompson sold 6,256 shares of Bicycle Therapeutics stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $25.11, for a total value 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 position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 10,840 shares of company stock worth $259,128. Company insiders own 8.50% of the company's stock.

Institutional Trading of Bicycle Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC boosted its position in shares of Bicycle Therapeutics by 79.3% during the 3rd quarter. Geode Capital Management LLC now owns 38,335 shares of the company's stock valued at $868,000 after purchasing an additional 16,958 shares in the last quarter. Jane Street Group LLC grew its position in shares of Bicycle Therapeutics by 35.7% during the 3rd quarter. Jane Street Group LLC now owns 20,180 shares of the company's stock worth $457,000 after buying an additional 5,310 shares during the period. State Street Corp increased its stake in shares of Bicycle Therapeutics by 233.5% in the 3rd quarter. State Street Corp now owns 86,271 shares of the company's stock valued at $1,952,000 after acquiring an additional 60,399 shares in the last quarter. Point72 Asset Management L.P. increased its stake in Bicycle Therapeutics by 1,438.1% in the third quarter. Point72 Asset Management L.P. now owns 899,799 shares of the company's stock valued at $20,362,000 after purchasing an additional 841,299 shares in the last quarter. Finally, HighVista Strategies LLC raised its holdings in shares of Bicycle Therapeutics by 9.7% during the third quarter. HighVista Strategies LLC now owns 139,544 shares of the company's stock valued at $3,158,000 after purchasing an additional 12,289 shares during the period. 86.15% of the stock is currently owned by institutional investors.

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.