Needham & Company LLC Cuts Bicycle Therapeutics (NASDAQ:BCYC) Price Target to $14.00

Bicycle Therapeutics (NASDAQ:BCYC) had its target price reduced by Needham & Company LLC from $15.00 to $14.00 in a report published on Thursday morning,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

A number of other equities analysts have also recently commented on BCYC. Citigroup reissued a “market outperform” rating on shares of Bicycle Therapeutics in a research note on Wednesday, June 3rd. Wall Street Zen raised shares of Bicycle Therapeutics from a “strong sell” rating to a “sell” rating in a report on Saturday, June 27th. Jefferies Financial Group reaffirmed a “buy” rating and set a $12.00 price objective on shares of Bicycle Therapeutics in a report on Thursday, April 30th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Bicycle Therapeutics in a research report on Wednesday, July 8th. Finally, Morgan Stanley reduced their target price on Bicycle Therapeutics from $13.00 to $12.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 8th. Five analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Bicycle Therapeutics has an average rating of “Hold” and a consensus target price of $13.86.

Bicycle Therapeutics Trading Down 3.7%

Shares of NASDAQ BCYC opened at $3.86 on Thursday. The business has a 50-day moving average of $4.19 and a 200-day moving average of $4.93. The firm has a market capitalization of $269.47 million, a price-to-earnings ratio of -1.41 and a beta of 1.55. Bicycle Therapeutics has a 12 month low of $3.80 and a 12 month high of $9.16.

Bicycle Therapeutics (NASDAQ:BCYC) last announced its earnings results on Thursday, July 30th. The company reported ($0.72) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.14). Bicycle Therapeutics had a negative net margin of 311.11% and a negative return on equity of 32.04%. The company had revenue of $0.63 million during the quarter, compared to analysts’ expectations of $4.22 million. On average, analysts predict that Bicycle Therapeutics will post -1.94 earnings per share for the current year.

Insider Transactions at Bicycle Therapeutics

In other Bicycle Therapeutics news, CEO Kevin Lee sold 5,905 shares of the company’s stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $4.27, for a total value of $25,214.35. Following the completion of the sale, the chief executive officer owned 605,408 shares of the company’s stock, valued at $2,585,092.16. This represents a 0.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 9,977 shares of company stock valued at $42,702 over the last ninety days. 22.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Bicycle Therapeutics

Hedge funds have recently made changes to their positions in the business. Fcpm Iii Services B.V. grew its holdings in shares of Bicycle Therapeutics by 0.5% during the 4th quarter. Fcpm Iii Services B.V. now owns 3,468,430 shares of the company’s stock valued at $24,556,000 after purchasing an additional 16,100 shares during the last quarter. Armistice Capital LLC lifted its stake in Bicycle Therapeutics by 8.7% in the fourth quarter. Armistice Capital LLC now owns 3,236,000 shares of the company’s stock worth $22,911,000 after purchasing an additional 258,000 shares during the last quarter. Westfield Capital Management Co. LP lifted its stake in Bicycle Therapeutics by 2.2% in the fourth quarter. Westfield Capital Management Co. LP now owns 3,016,026 shares of the company’s stock worth $21,353,000 after purchasing an additional 63,483 shares during the last quarter. GSK plc bought a new stake in Bicycle Therapeutics in the fourth quarter worth $10,829,000. Finally, Principal Financial Group Inc. boosted its position in Bicycle Therapeutics by 2.3% during the first quarter. Principal Financial Group Inc. now owns 1,174,625 shares of the company’s stock valued at $5,450,000 after buying an additional 26,353 shares during the period. 86.15% of the stock is currently owned by institutional investors.

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.