Bicycle Therapeutics (NASDAQ:BCYC) Stock Price Down 1.9%

Bicycle Therapeutics plc (NASDAQ:BCYC)’s share price traded down 1.9% during mid-day trading on Friday . The company traded as low as $26.48 and last traded at $26.71. 69,705 shares changed hands during trading, a decline of 79% from the average session volume of 327,425 shares. The stock had previously closed at $27.24.

Analysts Set New Price Targets

A number of analysts have recently commented on BCYC shares. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Bicycle Therapeutics in a research note on Monday. Needham & Company LLC reaffirmed a “buy” rating and issued a $38.00 price target on shares of Bicycle Therapeutics in a research note on Monday. B. Riley cut Bicycle Therapeutics from a “buy” rating to a “neutral” rating and lowered their price target for the company from $33.00 to $28.00 in a research note on Wednesday, August 7th. Oppenheimer reaffirmed an “outperform” rating and issued a $48.00 price target on shares of Bicycle Therapeutics in a research note on Wednesday, August 7th. Finally, Royal Bank of Canada assumed coverage on Bicycle Therapeutics in a research note on Friday, September 6th. They set an “outperform” rating and a $35.00 target price for the company. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Bicycle Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $44.56.

Bicycle Therapeutics Trading Down 2.5 %

The company has a debt-to-equity ratio of 0.01, a quick ratio of 14.77 and a current ratio of 14.77. The business has a 50-day simple moving average of $22.93 and a two-hundred day simple moving average of $23.03. The stock has a market cap of $1.26 billion, a price-to-earnings ratio of -5.72 and a beta of 0.90.

Bicycle Therapeutics (NASDAQ:BCYC) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.77) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.10) by $0.33. Bicycle Therapeutics had a negative return on equity of 32.80% and a negative net margin of 417.88%. The firm had revenue of $9.36 million during the quarter, compared to the consensus estimate of $6.13 million. The company’s revenue for the quarter was down 17.9% on a year-over-year basis. As a group, research analysts forecast that Bicycle Therapeutics plc will post -3.17 EPS for the current year.

Insiders Place Their Bets

In other Bicycle Therapeutics news, CEO Kevin Lee sold 3,194 shares of the company’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $19.64, for a total transaction of $62,730.16. Following the completion of the transaction, the chief executive officer now owns 384,076 shares of the company’s stock, valued at approximately $7,543,252.64. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders sold a total of 4,555 shares of company stock valued at $89,460 in the last quarter. 8.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Bicycle Therapeutics

Several large investors have recently made changes to their positions in the stock. Perceptive Advisors LLC acquired a new stake in shares of Bicycle Therapeutics in the 2nd quarter valued at approximately $11,577,000. The Manufacturers Life Insurance Company boosted its holdings in shares of Bicycle Therapeutics by 275.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 97,392 shares of the company’s stock valued at $1,971,000 after buying an additional 71,434 shares during the last quarter. Armistice Capital LLC lifted its holdings in Bicycle Therapeutics by 17.9% during the 2nd quarter. Armistice Capital LLC now owns 1,972,000 shares of the company’s stock valued at $39,913,000 after purchasing an additional 300,000 shares during the last quarter. Cubist Systematic Strategies LLC lifted its holdings in Bicycle Therapeutics by 923.5% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 96,409 shares of the company’s stock valued at $1,951,000 after purchasing an additional 86,989 shares during the last quarter. Finally, First Light Asset Management LLC lifted its holdings in Bicycle Therapeutics by 16.1% during the 2nd quarter. First Light Asset Management LLC now owns 1,384,768 shares of the company’s stock valued at $28,028,000 after purchasing an additional 191,717 shares during the last quarter. Institutional investors and hedge funds 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.