Analysts Set Bicycle Therapeutics plc (NASDAQ:BCYC) Price Target at $38.75

Bicycle Therapeutics plc (NASDAQ:BCYC - Get Free Report) has received an average rating of "Moderate Buy" from the nine research firms that are presently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $36.00.

Several brokerages have weighed in on BCYC. B. Riley reduced their price objective on Bicycle Therapeutics from $28.00 to $17.00 and set a "neutral" rating on the stock in a research note on Friday. Cantor Fitzgerald restated an "overweight" rating on shares of Bicycle Therapeutics in a research report on Monday, September 9th. HC Wainwright cut their price objective on shares of Bicycle Therapeutics from $55.00 to $33.00 and set a "buy" rating on the stock in a research report on Monday. Stephens assumed coverage on shares of Bicycle Therapeutics in a research note on Friday, November 8th. They set an "equal weight" rating and a $25.00 price target for the company. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $35.00 price objective on shares of Bicycle Therapeutics in a research report on Friday, November 1st.

Insider Buying and Selling

In other news, CEO Kevin Lee sold 3,212 shares of Bicycle Therapeutics stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $22.26, for a total value of $71,499.12. Following the transaction, the chief executive officer now directly owns 380,864 shares in the company, valued at approximately $8,478,032.64. This trade represents a 0.84 % decrease in their position. The sale was disclosed in a legal filing 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 on Monday, November 11th. The stock was sold at an average price of $25.11, for a total value of $157,088.16. Following the sale, the chief accounting officer now owns 19,241 shares of the company's stock, valued at $483,141.51. This trade represents a 24.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,840 shares of company stock valued at $259,128 over the last quarter. 8.50% of the stock is owned by corporate insiders.

Institutional Trading of Bicycle Therapeutics

Hedge funds have recently modified their holdings of the company. Point72 Asset Management L.P. lifted its position in Bicycle Therapeutics by 1,438.1% during the third quarter. Point72 Asset Management L.P. now owns 899,799 shares of the company's stock valued at $20,362,000 after acquiring an additional 841,299 shares during the last quarter. Avoro Capital Advisors LLC purchased a new stake in shares of Bicycle Therapeutics during the 2nd quarter valued at $14,168,000. Perceptive Advisors LLC acquired a new stake in shares of Bicycle Therapeutics in the 2nd quarter worth $11,577,000. Principal Financial Group Inc. purchased a new position in Bicycle Therapeutics during the 3rd quarter worth $10,028,000. Finally, Westfield Capital Management Co. LP increased its position in Bicycle Therapeutics by 21.5% during 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 buying an additional 327,089 shares in the last quarter. 86.15% of the stock is owned by hedge funds and other institutional investors.

Bicycle Therapeutics Stock Performance

NASDAQ:BCYC traded up $1.31 during trading hours on Monday, reaching $15.12. The stock had a trading volume of 1,963,903 shares, compared to its average volume of 394,561. The stock has a market capitalization of $1.04 billion, a PE ratio of -4.60 and a beta of 0.86. Bicycle Therapeutics has a 52 week low of $12.17 and a 52 week high of $28.67. The company has a 50 day moving average price of $22.62 and a two-hundred day moving average price of $22.71.

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

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.