Bicycle Therapeutics (NASDAQ:BCYC) Price Target Cut to $8.00 by Analysts at Citizens Jmp

Bicycle Therapeutics (NASDAQ:BCYC) had its target price cut by Citizens Jmp from $12.00 to $8.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a “market outperform” rating on the stock. Citizens Jmp’s price objective indicates a potential upside of 57.79% from the stock’s current price.

A number of other research analysts have also recently weighed in on BCYC. Morgan Stanley restated a “sell” rating and issued a $13.00 price target on shares of Bicycle Therapeutics in a research report on Tuesday. Truist Financial set a $8.00 price objective on shares of Bicycle Therapeutics in a research note on Tuesday. Jefferies Financial Group upgraded shares of Bicycle Therapeutics to a “strong-buy” rating in a report on Tuesday, February 17th. Weiss Ratings restated a “sell (e+)” rating on shares of Bicycle Therapeutics in a research report on Monday, December 22nd. Finally, Needham & Company LLC reduced their price target on shares of Bicycle Therapeutics from $24.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday. One equities research 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 issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $16.00.

Bicycle Therapeutics Price Performance

BCYC opened at $5.07 on Wednesday. Bicycle Therapeutics has a 1-year low of $4.77 and a 1-year high of $9.94. The stock has a market cap of $351.70 million, a P/E ratio of -1.40 and a beta of 1.65. The stock’s 50 day simple moving average is $5.91 and its 200 day simple moving average is $6.81.

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

Insider Buying and Selling at Bicycle Therapeutics

In other news, CEO Kevin Lee sold 10,989 shares of the company’s stock in a transaction on Monday, January 5th. The stock was 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. This represents a 1.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Alethia Young sold 4,334 shares of Bicycle Therapeutics stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $6.49, for a total value of $28,127.66. Following the sale, the chief financial officer owned 87,081 shares of the company’s stock, valued at approximately $565,155.69. This represents 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 90 days. Company insiders own 8.50% of the company’s stock.

Institutional Investors Weigh In On Bicycle Therapeutics

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