Needham & Company LLC Cuts Bicycle Therapeutics (NASDAQ:BCYC) Price Target to $15.00

Bicycle Therapeutics (NASDAQ:BCYC) had its target price decreased by Needham & Company LLC from $24.00 to $15.00 in a research report released on Wednesday morning,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

Other analysts also recently issued reports about the company. Jefferies Financial Group raised Bicycle Therapeutics to a “strong-buy” rating in a research report on Tuesday, February 17th. Morgan Stanley reissued a “sell” rating and issued a $13.00 price objective on shares of Bicycle Therapeutics in a research report on Tuesday. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Bicycle Therapeutics in a research report on Monday, December 22nd. Finally, Truist Financial set a $8.00 target price on Bicycle Therapeutics in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Bicycle Therapeutics has an average rating of “Hold” and a consensus target price of $14.50.

Bicycle Therapeutics Stock Performance

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

Bicycle Therapeutics (NASDAQ:BCYC) last posted its quarterly earnings data on Tuesday, March 17th. The company reported ($0.29) earnings per share (EPS) 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 firm had revenue of $47.96 million for the quarter, compared to the consensus estimate of $7.08 million. On average, sell-side analysts predict that Bicycle Therapeutics will post -3.06 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Kevin Lee sold 10,989 shares of the stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $6.46, for a total transaction of $70,988.94. Following the transaction, the chief executive officer directly owned 618,996 shares in the company, valued at approximately $3,998,714.16. This represents a 1.74% decrease in their position. The sale 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 dated Monday, January 5th. The shares were sold at an average price of $6.49, for a total value of $28,127.66. Following the transaction, the chief financial officer directly owned 87,081 shares in the company, valued at approximately $565,155.69. This represents a 4.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 38,029 shares of company stock worth $251,966. 22.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Bicycle Therapeutics

A number of large investors have recently added to or reduced their stakes in the business. Assetmark Inc. lifted its stake in Bicycle Therapeutics by 74.9% in the third quarter. Assetmark Inc. now owns 3,625 shares of the company’s stock worth $28,000 after purchasing an additional 1,552 shares during the last quarter. Clearstead Advisors LLC grew its stake in shares of Bicycle Therapeutics by 234.2% during the fourth quarter. Clearstead Advisors LLC now owns 4,655 shares of the company’s stock valued at $33,000 after buying an additional 3,262 shares during the last quarter. Pinnacle Wealth Management Advisory Group LLC purchased a new position in shares of Bicycle Therapeutics in the fourth quarter worth about $71,000. Ausdal Financial Partners Inc. purchased a new stake in Bicycle Therapeutics during the 2nd quarter valued at about $70,000. Finally, Vontobel Holding Ltd. bought a new position in Bicycle Therapeutics during the 4th quarter worth approximately $71,000. Hedge funds and other institutional investors own 86.15% of the company’s stock.

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.