HC Wainwright Lowers Bicycle Therapeutics (NASDAQ:BCYC) Price Target to $33.00

Bicycle Therapeutics (NASDAQ:BCYC) had its price objective lowered by analysts at HC Wainwright from $55.00 to $33.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s price target points to a potential upside of 138.96% from the company’s current price.

A number of other research firms have also weighed in on BCYC. JMP Securities restated a “market outperform” rating and set a $32.00 target price on shares of Bicycle Therapeutics in a research note on Monday, September 16th. Needham & Company LLC reissued a “buy” rating and issued a $38.00 price objective on shares of Bicycle Therapeutics in a research report on Thursday, October 31st. B. Riley decreased their price objective on shares of Bicycle Therapeutics from $28.00 to $17.00 and set a “neutral” rating for the company in a research report on Friday. Cantor Fitzgerald reissued an “overweight” rating on shares of Bicycle Therapeutics in a report on Monday, September 9th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $35.00 price target on shares of Bicycle Therapeutics in a report on Friday, November 1st. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $36.00.

Bicycle Therapeutics Stock Down 31.3 %

Shares of BCYC stock opened at $13.81 on Monday. The firm has a 50 day moving average of $22.78 and a two-hundred day moving average of $22.76. The stock has a market capitalization of $953.58 million, a PE ratio of -4.20 and a beta of 0.86. Bicycle Therapeutics has a 52 week low of $12.17 and a 52 week high of $28.67.

Bicycle Therapeutics (NASDAQ:BCYC) last released its earnings results on Thursday, October 31st. The company reported ($0.74) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $6.82 million. During the same period last year, the business posted ($1.26) earnings per share. Bicycle Therapeutics’s revenue was down 50.0% compared to the same quarter last year. Analysts expect 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 on Monday, November 11th. The shares were sold at an average price of $25.11, for a total value of $157,088.16. Following the completion of the sale, the chief accounting officer now owns 19,241 shares in the company, valued at $483,141.51. This represents a 24.54 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Kevin Lee sold 3,212 shares of the stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $22.26, for a total transaction of $71,499.12. Following the sale, the chief executive officer now owns 380,864 shares of the company’s stock, valued at approximately $8,478,032.64. This represents a 0.84 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,840 shares of company stock worth $259,128. Corporate insiders own 8.50% of the company’s stock.

Hedge Funds Weigh In On Bicycle Therapeutics

Institutional investors have recently added to or reduced their stakes in the stock. Assetmark Inc. purchased a new position in shares of Bicycle Therapeutics in the 3rd quarter valued at approximately $34,000. GAMMA Investing LLC lifted its holdings in shares of Bicycle Therapeutics by 105.1% during the third quarter. GAMMA Investing LLC now owns 2,026 shares of the company’s stock worth $46,000 after purchasing an additional 1,038 shares during the period. China Universal Asset Management Co. Ltd. grew its position in Bicycle Therapeutics by 69.1% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 7,138 shares of the company’s stock valued at $162,000 after buying an additional 2,918 shares during the last quarter. XTX Topco Ltd acquired a new position in Bicycle Therapeutics in the 2nd quarter valued at $206,000. Finally, Crossmark Global Holdings Inc. purchased a new position in Bicycle Therapeutics during the 3rd quarter worth $257,000. 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.