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

Bicycle Therapeutics (NASDAQ:BCYC) had its price target decreased by Royal Bank Of Canada from $11.00 to $7.00 in a report published on Wednesday,Benzinga reports. Royal Bank Of Canada currently has a sector perform rating on the stock.

Other research analysts also recently issued research reports about the stock. Citizens Jmp cut their price objective on shares of Bicycle Therapeutics from $12.00 to $8.00 and set a “market outperform” rating on the stock in a research report on Wednesday. Weiss Ratings restated a “sell (e+)” rating on shares of Bicycle Therapeutics in a research note on Monday, December 22nd. Morgan Stanley reaffirmed a “sell” rating and issued a $13.00 price target on shares of Bicycle Therapeutics in a report on Tuesday. Needham & Company LLC reduced their price target on Bicycle Therapeutics from $24.00 to $15.00 and set a “buy” rating on the stock in a research report 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 assigned a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Bicycle Therapeutics currently has a consensus rating of “Hold” and an average target price of $14.50.

Bicycle Therapeutics Stock Performance

Shares of NASDAQ BCYC opened at $4.35 on Wednesday. Bicycle Therapeutics has a fifty-two week low of $4.30 and a fifty-two week high of $9.69. The company has a market cap of $301.75 million, a price-to-earnings ratio of -1.38 and a beta of 1.65. The business’s 50 day moving average price is $5.78 and its 200-day moving average price is $6.76.

Bicycle Therapeutics (NASDAQ:BCYC) last released its quarterly earnings data on Tuesday, March 17th. The company reported ($0.29) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.00) by $0.71. Bicycle Therapeutics had a negative net margin of 301.66% and a negative return on equity of 33.21%. The company had revenue of $47.96 million during the quarter, compared to analyst estimates of $7.08 million. Sell-side analysts predict that Bicycle Therapeutics will post -3.06 earnings per share for the current year.

Insider Transactions at Bicycle Therapeutics

In related news, CEO Kevin Lee sold 10,989 shares of the business’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $6.46, for a total value of $70,988.94. Following the sale, the chief executive officer directly owned 618,996 shares in the company, valued at $3,998,714.16. The trade was a 1.74% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Alethia Young sold 4,334 shares of the stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $6.49, for a total transaction of $28,127.66. Following the completion of 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 ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 38,029 shares of company stock valued at $251,966 in the last quarter. Insiders own 22.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of BCYC. Flax Pond Capital LLC purchased a new position in Bicycle Therapeutics in the fourth quarter valued at approximately $1,229,000. Invesco Ltd. acquired a new position in Bicycle Therapeutics during the 4th quarter worth approximately $71,000. State of Tennessee Department of Treasury boosted its holdings in Bicycle Therapeutics by 36.4% in the 4th quarter. State of Tennessee Department of Treasury now owns 61,153 shares of the company’s stock worth $433,000 after acquiring an additional 16,311 shares during the period. XTX Topco Ltd grew its position in Bicycle Therapeutics by 309.3% in the fourth quarter. XTX Topco Ltd now owns 47,674 shares of the company’s stock valued at $338,000 after acquiring an additional 36,026 shares in the last quarter. Finally, Virtus Investment Advisers LLC grew its position in Bicycle Therapeutics by 172.7% in the fourth quarter. Virtus Investment Advisers LLC now owns 35,709 shares of the company’s stock valued at $253,000 after acquiring an additional 22,615 shares in the last quarter. 86.15% of the stock is currently owned by institutional investors and hedge funds.

About Bicycle Therapeutics

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.