JMP Securities Lowers Bicycle Therapeutics (NASDAQ:BCYC) Price Target to $26.00

Bicycle Therapeutics (NASDAQ:BCYC) had its price objective decreased by equities researchers at JMP Securities from $32.00 to $26.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “market outperform” rating on the stock. JMP Securities’ price target suggests a potential upside of 73.33% from the company’s previous close.

BCYC has been the subject of several other research reports. Needham & Company LLC reiterated a “buy” rating and set a $38.00 target price on shares of Bicycle Therapeutics in a research report on Thursday, October 31st. Stephens began coverage on shares of Bicycle Therapeutics in a report on Friday, November 8th. They set an “equal weight” rating and a $25.00 price objective for the company. HC Wainwright lowered their target price on shares of Bicycle Therapeutics from $55.00 to $33.00 and set a “buy” rating on the stock in a report on Monday. 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. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Bicycle Therapeutics in a report on Monday, September 9th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Bicycle Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $35.25.

Bicycle Therapeutics Price Performance

BCYC opened at $15.00 on Wednesday. The firm has a market cap of $1.04 billion, a P/E ratio of -4.56 and a beta of 0.86. Bicycle Therapeutics has a 1-year low of $12.17 and a 1-year high of $28.67. The company has a 50 day simple moving average of $22.06 and a two-hundred day simple moving average of $22.56.

Bicycle Therapeutics (NASDAQ:BCYC) 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. The company had revenue of $2.68 million during the quarter, compared to the consensus estimate of $6.82 million. Bicycle Therapeutics had a negative net margin of 450.64% and a negative return on equity of 27.35%. Bicycle Therapeutics’s quarterly revenue was down 50.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($1.26) EPS. Equities analysts anticipate that Bicycle Therapeutics will post -3.05 earnings per share for the current year.

Insider Activity at Bicycle Therapeutics

In other Bicycle Therapeutics news, CAO Travis Alvin Thompson sold 6,256 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $25.11, for a total transaction of $157,088.16. Following the sale, the chief accounting officer now directly owns 19,241 shares in the company, valued at $483,141.51. This represents a 24.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Bros. Advisors Lp Baker bought 500,000 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was bought at an average price of $15.34 per share, with a total value of $7,670,000.00. Following the acquisition, the director now owns 9,995,274 shares in the company, valued at approximately $153,327,503.16. This trade represents a 5.27 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 10,840 shares of company stock valued at $259,128 over the last 90 days. 8.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. FMR LLC bought a new stake in shares of Bicycle Therapeutics in the 3rd quarter worth about $3,406,000. TD Asset Management Inc lifted its stake in Bicycle Therapeutics by 76.7% in the second quarter. TD Asset Management Inc now owns 97,186 shares of the company’s stock worth $1,967,000 after purchasing an additional 42,200 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in Bicycle Therapeutics by 33.2% in the third quarter. The Manufacturers Life Insurance Company now owns 129,705 shares of the company’s stock worth $2,935,000 after purchasing an additional 32,313 shares during the last quarter. Perceptive Advisors LLC purchased a new position in shares of Bicycle Therapeutics during the second quarter valued at approximately $11,577,000. Finally, Renaissance Technologies LLC grew its stake in shares of Bicycle Therapeutics by 97.2% during the second quarter. Renaissance Technologies LLC now owns 326,800 shares of the company’s stock valued at $6,614,000 after buying an additional 161,100 shares during the last quarter. Institutional investors own 86.15% of the company’s stock.

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.