Bicycle Therapeutics (NASDAQ:BCYC) Research Coverage Started at Truist Financial

Truist Financial began coverage on shares of Bicycle Therapeutics (NASDAQ:BCYC) in a research note released on Monday, Marketbeat reports. The brokerage issued a hold rating and a $19.00 price target on the stock.

A number of other analysts have also commented on the stock. Morgan Stanley decreased their target price on shares of Bicycle Therapeutics from $17.00 to $13.00 and set an “equal weight” rating for the company in a report on Tuesday, August 12th. Citizens Jmp boosted their price target on shares of Bicycle Therapeutics from $10.00 to $12.00 and gave the company a “market outperform” rating in a report on Friday, October 31st. Citigroup restated an “outperform” rating on shares of Bicycle Therapeutics in a research report on Friday, October 31st. Royal Bank Of Canada reiterated a “sector perform” rating and set a $11.00 price objective (down from $27.00) on shares of Bicycle Therapeutics in a research report on Friday, October 31st. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Bicycle Therapeutics in a research note on Monday, November 17th. Seven analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $19.73.

Bicycle Therapeutics Stock Up 6.4%

BCYC opened at $7.31 on Monday. The firm has a market cap of $507.09 million, a PE ratio of -2.02 and a beta of 1.48. The business has a fifty day simple moving average of $7.49 and a 200-day simple moving average of $7.67. Bicycle Therapeutics has a fifty-two week low of $6.03 and a fifty-two week high of $21.50.

Bicycle Therapeutics (NASDAQ:BCYC) last announced its earnings results on Thursday, October 30th. The company reported ($0.85) EPS for the quarter, beating the consensus estimate of ($1.09) by $0.24. Bicycle Therapeutics had a negative return on equity of 36.05% and a negative net margin of 884.51%.The business had revenue of $11.73 million during the quarter, compared to the consensus estimate of $8.25 million. On average, equities research analysts anticipate that Bicycle Therapeutics will post -3.06 EPS for the current fiscal year.

Insider Transactions at Bicycle Therapeutics

In other Bicycle Therapeutics news, CEO Kevin Lee sold 3,231 shares of the business’s stock in a transaction dated Friday, October 3rd. The stock was sold at an average price of $8.41, for a total value of $27,172.71. Following the transaction, the chief executive officer owned 475,310 shares in the company, valued at $3,997,357.10. The trade was a 0.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders sold a total of 8,527 shares of company stock worth $71,738 over the last ninety days. 22.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Bicycle Therapeutics

Large investors have recently made changes to their positions in the company. Assetmark Inc. raised its position in Bicycle Therapeutics by 74.9% during the third quarter. Assetmark Inc. now owns 3,625 shares of the company’s stock valued at $28,000 after acquiring an additional 1,552 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in Bicycle Therapeutics by 1.6% in the second quarter. The Manufacturers Life Insurance Company now owns 140,492 shares of the company’s stock worth $976,000 after acquiring an additional 2,243 shares in the last quarter. Virtus Investment Advisers LLC increased its stake in shares of Bicycle Therapeutics by 32.6% during the 2nd quarter. Virtus Investment Advisers LLC now owns 10,821 shares of the company’s stock worth $75,000 after purchasing an additional 2,659 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Bicycle Therapeutics by 21.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 14,972 shares of the company’s stock valued at $116,000 after purchasing an additional 2,668 shares in the last quarter. Finally, Tocqueville Asset Management L.P. lifted its stake in shares of Bicycle Therapeutics by 24.5% in the 1st quarter. Tocqueville Asset Management L.P. now owns 18,300 shares of the company’s stock valued at $155,000 after purchasing an additional 3,600 shares during the last quarter. Institutional investors own 86.15% of the company’s stock.

About Bicycle Therapeutics

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.