Brokerages Set Bicycle Therapeutics plc (NASDAQ:BCYC) Price Target at $33.25

Shares of Bicycle Therapeutics plc (NASDAQ:BCYC - Get Free Report) have been assigned an average rating of "Moderate Buy" from the nine brokerages that are presently covering the stock, Marketbeat reports. Two investment 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 updated their coverage on the stock in the last year is $33.25.

BCYC has been the subject of a number of research analyst reports. Needham & Company LLC reaffirmed a "buy" rating and set a $32.00 target price on shares of Bicycle Therapeutics in a research report on Monday, January 13th. Stephens restated an "equal weight" rating and issued a $15.00 price objective on shares of Bicycle Therapeutics in a report on Wednesday, January 22nd. Royal Bank of Canada reiterated an "outperform" rating and set a $35.00 target price on shares of Bicycle Therapeutics in a report on Friday, November 1st. HC Wainwright restated a "buy" rating and set a $33.00 target price on shares of Bicycle Therapeutics in a report on Monday, January 13th. Finally, B. Riley cut their price target on Bicycle Therapeutics from $28.00 to $17.00 and set a "neutral" rating on the stock in a report on Friday, December 13th.

Insiders Place Their Bets

In related news, CAO Travis Alvin Thompson sold 2,686 shares of Bicycle Therapeutics stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $15.00, for a total transaction of $40,290.00. Following the completion of the sale, the chief accounting officer now owns 32,146 shares of the company's stock, valued at $482,190. The trade was a 7.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Santiago Arroyo sold 4,943 shares of the company's stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $14.09, for a total value of $69,646.87. Following the completion of the sale, the insider now owns 69,057 shares in the company, valued at approximately $973,013.13. This represents a 6.68 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 33,933 shares of company stock valued at $549,501. Insiders own 8.50% of the company's stock.

Institutional Investors Weigh In On Bicycle Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Candriam S.C.A. boosted its position in Bicycle Therapeutics by 3.5% in the 4th quarter. Candriam S.C.A. now owns 1,087,876 shares of the company's stock worth $15,230,000 after purchasing an additional 37,278 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its position in Bicycle Therapeutics by 30.7% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 9,329 shares of the company's stock worth $131,000 after purchasing an additional 2,191 shares in the last quarter. Avior Wealth Management LLC acquired a new stake in Bicycle Therapeutics in the fourth quarter valued at approximately $57,000. JPMorgan Chase & Co. increased its position in shares of Bicycle Therapeutics by 26.8% in the third quarter. JPMorgan Chase & Co. now owns 8,424 shares of the company's stock valued at $191,000 after buying an additional 1,782 shares in the last quarter. Finally, Principal Financial Group Inc. acquired a new position in shares of Bicycle Therapeutics during the 3rd quarter worth approximately $10,028,000. 86.15% of the stock is owned by institutional investors and hedge funds.

Bicycle Therapeutics Price Performance

Shares of NASDAQ:BCYC traded down $0.43 during trading on Tuesday, reaching $12.18. 199,545 shares of the company were exchanged, compared to its average volume of 343,394. The firm has a market capitalization of $841.03 million, a PE ratio of -3.70 and a beta of 0.93. The business's fifty day simple moving average is $15.22 and its 200-day simple moving average is $20.65. Bicycle Therapeutics has a 12-month low of $12.17 and a 12-month high of $28.67.

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.