Bicycle Therapeutics (NASDAQ:BCYC) Price Target Lowered to $7.00 at Royal Bank Of Canada

Bicycle Therapeutics (NASDAQ:BCYC) had its price objective decreased by analysts at Royal Bank Of Canada from $11.00 to $7.00 in a report released on Wednesday,Benzinga reports. The firm currently has a “sector perform” rating on the stock. Royal Bank Of Canada’s price target indicates a potential upside of 50.21% from the stock’s previous close.

Other analysts have also recently issued reports about the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Bicycle Therapeutics in a research note on Monday, December 22nd. Needham & Company LLC cut their price target on Bicycle Therapeutics from $24.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday. Morgan Stanley reaffirmed a “sell” rating and issued a $13.00 price target on shares of Bicycle Therapeutics in a research report on Tuesday. Citizens Jmp decreased their price objective on Bicycle Therapeutics from $12.00 to $8.00 and set a “market outperform” rating for the company in a research note on Wednesday. Finally, Jefferies Financial Group raised Bicycle Therapeutics to a “strong-buy” rating in a research report on Tuesday, February 17th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $15.50.

Bicycle Therapeutics Price Performance

Shares of BCYC stock traded down $0.41 during trading on Wednesday, reaching $4.66. The company’s stock had a trading volume of 64,808 shares, compared to its average volume of 356,626. Bicycle Therapeutics has a 1-year low of $4.64 and a 1-year high of $9.94. The stock’s 50-day moving average price is $5.91 and its 200 day moving average price is $6.81. The company has a market capitalization of $323.25 million, a price-to-earnings ratio of -1.28 and a beta of 1.65.

Bicycle Therapeutics (NASDAQ:BCYC) last issued its quarterly earnings results on Tuesday, March 17th. The company reported ($0.29) EPS for the quarter, beating the consensus estimate of ($1.00) by $0.71. The company had revenue of $47.96 million during the quarter, compared to analysts’ expectations of $7.08 million. Bicycle Therapeutics had a negative net margin of 884.51% and a negative return on equity of 36.05%. On average, sell-side analysts anticipate that Bicycle Therapeutics will post -3.06 EPS for the current fiscal year.

Insider Activity at Bicycle Therapeutics

In other Bicycle Therapeutics news, CEO Kevin Lee sold 10,989 shares of the firm’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $6.46, for a total transaction of $70,988.94. Following the sale, the chief executive officer owned 618,996 shares of the company’s stock, valued at approximately $3,998,714.16. This trade represents a 1.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Alethia Young sold 4,334 shares of the firm’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $6.49, for a total transaction of $28,127.66. Following the sale, the chief financial officer directly owned 87,081 shares in the company, valued at approximately $565,155.69. The trade was a 4.74% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 38,029 shares of company stock worth $251,966 over the last quarter. 8.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Bicycle Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Principal Financial Group Inc. boosted its stake in Bicycle Therapeutics by 64.7% in the third quarter. Principal Financial Group Inc. now owns 1,148,402 shares of the company’s stock valued at $8,889,000 after acquiring an additional 451,135 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Bicycle Therapeutics during the second quarter worth about $320,000. Jefferies Financial Group Inc. increased its position in shares of Bicycle Therapeutics by 12.8% during the second quarter. Jefferies Financial Group Inc. now owns 461,100 shares of the company’s stock worth $3,205,000 after purchasing an additional 52,211 shares in the last quarter. Westfield Capital Management Co. LP lifted its holdings in shares of Bicycle Therapeutics by 4.6% in the 2nd quarter. Westfield Capital Management Co. LP now owns 2,780,491 shares of the company’s stock valued at $19,324,000 after purchasing an additional 123,186 shares during the last quarter. Finally, Long Focus Capital Management LLC boosted its position in shares of Bicycle Therapeutics by 7.7% in the 3rd quarter. Long Focus Capital Management LLC now owns 1,418,695 shares of the company’s stock valued at $10,981,000 after purchasing an additional 101,402 shares during the period. 86.15% of the stock is currently owned by institutional investors and hedge funds.

Bicycle Therapeutics Company Profile

Bicycle Therapeutics plc is a clinical-stage biotechnology company specializing in the discovery and development of novel peptide therapeutics based on its proprietary bicyclic peptide platform. The company’s core technology leverages constrained peptide structures that combine the binding specificity of biologics with the favorable tissue-penetration properties of small molecules. This approach is designed to generate highly selective drug candidates with potential applications across a range of therapeutic areas, including oncology, neuroscience and immunology.

Bicycle Therapeutics maintains a diversified pipeline of internally developed programs as well as collaborations with leading pharmaceutical partners.