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

Bicycle Therapeutics (NASDAQ:BCYC) had its price objective lowered by investment analysts at JMP Securities from $32.00 to $26.00 in a research note 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 64.97% from the stock’s previous close.

Several other analysts also recently commented on the stock. Stephens initiated coverage on shares of Bicycle Therapeutics in a report on Friday, November 8th. They set an “equal weight” rating and a $25.00 target price on the stock. B. Riley reduced their target price on shares of Bicycle Therapeutics from $28.00 to $17.00 and set a “neutral” rating for the company in a report on Friday, December 13th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $35.00 target price on shares of Bicycle Therapeutics in a research report on Friday, November 1st. HC Wainwright reduced their price target on Bicycle Therapeutics from $55.00 to $33.00 and set a “buy” rating for the company in a research report on Monday. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Bicycle Therapeutics in a research report on Monday, September 9th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Bicycle Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $35.25.

Bicycle Therapeutics Stock Performance

NASDAQ:BCYC opened at $15.76 on Wednesday. Bicycle Therapeutics has a 52-week low of $12.17 and a 52-week high of $28.67. The company has a market cap of $1.09 billion, a price-to-earnings ratio of -4.79 and a beta of 0.86. The stock’s fifty day moving average price is $22.62 and its two-hundred day moving average price is $22.71.

Bicycle Therapeutics (NASDAQ:BCYC) last released its earnings results on Thursday, October 31st. The company reported ($0.74) earnings per share for the quarter, beating the consensus estimate of ($0.78) by $0.04. Bicycle Therapeutics had a negative return on equity of 27.35% and a negative net margin of 450.64%. The firm had revenue of $2.68 million for the quarter, compared to analyst estimates of $6.82 million. During the same quarter in the prior year, the firm posted ($1.26) earnings per share. The company’s quarterly revenue was down 50.0% on a year-over-year basis. On average, equities analysts predict that Bicycle Therapeutics will post -3.05 EPS for the current fiscal year.

Insider Transactions at Bicycle Therapeutics

In related 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 value 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 legal filing with the SEC, which is available at this hyperlink. Also, Director Bros. Advisors Lp Baker purchased 985,397 shares of the firm’s stock in a transaction on Friday, December 13th. The shares were acquired at an average price of $13.76 per share, with a total value of $13,559,062.72. Following the completion of the acquisition, the director now owns 9,537,643 shares in the company, valued at approximately $131,237,967.68. This trade represents a 11.52 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 10,840 shares of company stock valued at $259,128. Company insiders own 8.50% of the company’s stock.

Hedge Funds Weigh In On Bicycle Therapeutics

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

Bicycle Therapeutics Company Profile

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.