JMP Securities Has Lowered Expectations for Bicycle Therapeutics (NASDAQ:BCYC) Stock Price

Bicycle Therapeutics (NASDAQ:BCYC - Get Free Report) had its price objective decreased by equities researchers at JMP Securities from $32.00 to $26.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a "market outperform" rating on the stock. JMP Securities' target price would suggest a potential upside of 69.82% from the company's current price.

A number of other research analysts have also recently commented on BCYC. HC Wainwright lowered their price target on Bicycle Therapeutics from $55.00 to $33.00 and set a "buy" rating on the stock in a report on Monday. Cantor Fitzgerald reissued an "overweight" rating on shares of Bicycle Therapeutics in a report on Monday, September 9th. B. Riley cut their target price on shares of Bicycle Therapeutics from $28.00 to $17.00 and set a "neutral" rating for the company in a research note on Friday, December 13th. Royal Bank of Canada reiterated an "outperform" rating and issued a $35.00 price target on shares of Bicycle Therapeutics in a report on Friday, November 1st. Finally, Needham & Company LLC reissued a "buy" rating and set a $38.00 price objective on shares of Bicycle Therapeutics in a report on Thursday, October 31st. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, Bicycle Therapeutics presently has a consensus rating of "Moderate Buy" and a consensus price target of $35.25.

Bicycle Therapeutics Stock Performance

Shares of NASDAQ BCYC traded up $0.17 during midday trading on Wednesday, reaching $15.31. The stock had a trading volume of 657,158 shares, compared to its average volume of 404,212. The company has a market capitalization of $1.06 billion, a price-to-earnings ratio of -4.65 and a beta of 0.86. Bicycle Therapeutics has a 12-month low of $12.17 and a 12-month high of $28.67. The stock has a 50-day moving average of $22.45 and a 200-day moving average of $22.66.

Bicycle Therapeutics (NASDAQ:BCYC - Get Free Report) last issued its earnings results on Thursday, October 31st. The company reported ($0.74) earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $6.82 million. During the same quarter in the prior year, the firm posted ($1.26) EPS. Bicycle Therapeutics's quarterly revenue was down 50.0% compared to the same quarter last year. As a group, analysts forecast that Bicycle Therapeutics will post -3.05 EPS for the current fiscal year.

Insider Activity at Bicycle Therapeutics

In other news, Director Bros. Advisors Lp Baker purchased 500,000 shares of the business's stock in a transaction that occurred on Monday, December 16th. The shares were bought at an average cost of $15.34 per share, for a total transaction of $7,670,000.00. Following the acquisition, the director now owns 9,995,274 shares of the company's stock, valued at approximately $153,327,503.16. This trade represents a 5.27 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Kevin Lee sold 3,212 shares of the stock in a transaction dated 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 trade represents a 0.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,840 shares of company stock valued at $259,128. Insiders own 8.50% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Armistice Capital LLC boosted its position in Bicycle Therapeutics by 17.9% in the 2nd 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 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 purchasing an additional 327,089 shares in the last quarter. First Light Asset Management LLC lifted its holdings in shares of Bicycle Therapeutics by 16.1% in the 2nd quarter. First Light Asset Management LLC now owns 1,384,768 shares of the company's stock worth $28,028,000 after buying an additional 191,717 shares during the period. Point72 Asset Management L.P. increased its stake in shares of 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 buying an additional 841,299 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in shares of Bicycle Therapeutics by 0.6% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 888,081 shares of the company's stock valued at $17,975,000 after acquiring an additional 4,976 shares in the last quarter. 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.