B. Riley Issues Pessimistic Forecast for Bicycle Therapeutics (NASDAQ:BCYC) Stock Price

Bicycle Therapeutics (NASDAQ:BCYC) had its price target decreased by research analysts at B. Riley from $28.00 to $17.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. B. Riley’s target price suggests a potential upside of 22.39% from the stock’s previous close.

A number of other equities analysts also recently weighed in on BCYC. HC Wainwright reaffirmed a “buy” rating and issued a $55.00 target price on shares of Bicycle Therapeutics in a research note on Friday, November 1st. JMP Securities reaffirmed a “market outperform” rating and issued a $32.00 target price on shares of Bicycle Therapeutics in a research note on Monday, September 16th. Stephens began coverage on shares of Bicycle Therapeutics in a research note on Friday, November 8th. They issued an “equal weight” rating and a $25.00 target price for the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $35.00 price target on shares of Bicycle Therapeutics in a report on Friday, November 1st. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Bicycle Therapeutics in a report on Monday, September 9th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $38.75.

Bicycle Therapeutics Price Performance

Shares of NASDAQ BCYC traded down $6.22 during mid-day trading on Friday, reaching $13.89. 3,350,521 shares of the company traded hands, compared to its average volume of 376,806. Bicycle Therapeutics has a fifty-two week low of $12.17 and a fifty-two week high of $28.67. The firm has a market cap of $959.10 million, a PE ratio of -4.22 and a beta of 0.86. The stock has a fifty day simple moving average of $22.98 and a 200-day simple moving average of $22.82.

Bicycle Therapeutics (NASDAQ:BCYC) last issued its earnings results on Thursday, October 31st. The company reported ($0.74) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.78) by $0.04. The firm had revenue of $2.68 million during the quarter, compared to analysts’ expectations of $6.82 million. Bicycle Therapeutics had a negative net margin of 450.64% and a negative return on equity of 27.35%. The firm’s revenue for the quarter was down 50.0% compared to the same quarter last year. During the same period last year, the firm posted ($1.26) earnings per share. As a group, analysts predict that Bicycle Therapeutics will post -3.05 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CAO Travis Alvin Thompson sold 6,256 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $25.11, for a total transaction of $157,088.16. Following the sale, the chief accounting officer now owns 19,241 shares of the company’s stock, valued at $483,141.51. This trade represents a 24.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Kevin Lee sold 3,212 shares of the firm’s stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $22.26, for a total value of $71,499.12. Following the sale, the chief executive officer now directly owns 380,864 shares in the company, valued at approximately $8,478,032.64. The trade was a 0.84 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,840 shares of company stock worth $259,128. 8.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Bicycle Therapeutics

Institutional investors have recently added to or reduced their stakes in the stock. Point72 Asset Management L.P. raised its stake in Bicycle Therapeutics by 1,438.1% in the third quarter. Point72 Asset Management L.P. now owns 899,799 shares of the company’s stock valued at $20,362,000 after buying an additional 841,299 shares during the last quarter. Avoro Capital Advisors LLC acquired a new position in shares of Bicycle Therapeutics during the 2nd quarter worth about $14,168,000. Perceptive Advisors LLC purchased a new stake in Bicycle Therapeutics during the 2nd quarter valued at approximately $11,577,000. Principal Financial Group Inc. acquired a new stake in shares of Bicycle Therapeutics in the 3rd quarter worth approximately $10,028,000. Finally, Westfield Capital Management Co. LP raised its stake in Bicycle Therapeutics by 21.5% during the third quarter. Westfield Capital Management Co. LP now owns 1,850,945 shares of the company’s stock worth $41,887,000 after purchasing an additional 327,089 shares during the period. Institutional investors 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.