Bicycle Therapeutics (NASDAQ:BCYC) Shares Down 8.8% on Analyst Downgrade

Bicycle Therapeutics PLC Sponsored ADR (NASDAQ:BCYC)’s stock price was down 8.8% on Monday after Royal Bank Of Canada downgraded the stock from an outperform rating to a sector perform rating. Royal Bank Of Canada now has a $11.00 price target on the stock, down from their previous price target of $27.00. Bicycle Therapeutics traded as low as $7.40 and last traded at $7.36. Approximately 168,478 shares traded hands during mid-day trading, a decline of 46% from the average daily volume of 309,490 shares. The stock had previously closed at $8.07.

Several other brokerages have also commented on BCYC. Morgan Stanley decreased their price objective on shares of Bicycle Therapeutics from $17.00 to $13.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 12th. Oppenheimer restated an “outperform” rating and issued a $44.00 price objective (down from $48.00) on shares of Bicycle Therapeutics in a report on Monday, August 11th. Citizens Jmp upped their price objective on shares of Bicycle Therapeutics from $10.00 to $12.00 and gave the stock a “market outperform” rating in a report on Friday, October 31st. Citigroup reiterated an “outperform” rating on shares of Bicycle Therapeutics in a report on Friday. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Bicycle Therapeutics in a report on Tuesday, October 14th. Seven equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Bicycle Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $19.80.

Insider Buying and Selling

In other Bicycle Therapeutics news, CEO Kevin Lee sold 3,231 shares of the business’s stock in a transaction that occurred on Friday, October 3rd. The shares were sold at an average price of $8.41, for a total transaction of $27,172.71. Following the completion of 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 position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In the last ninety days, insiders have sold 8,527 shares of company stock worth $71,738. Insiders own 8.50% of the company’s stock.

Institutional Investors Weigh In On Bicycle Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the company. Ausdal Financial Partners Inc. acquired a new stake in shares of Bicycle Therapeutics in the 2nd quarter valued at $70,000. Sei Investments Co. acquired a new stake in shares of Bicycle Therapeutics in the 2nd quarter valued at $74,000. Virtus Investment Advisers LLC raised its holdings in shares of Bicycle Therapeutics by 32.6% in the 2nd quarter. Virtus Investment Advisers LLC now owns 10,821 shares of the company’s stock valued at $75,000 after purchasing an additional 2,659 shares in the last quarter. Ameriprise Financial Inc. acquired a new stake in shares of Bicycle Therapeutics in the 2nd quarter valued at $86,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Bicycle Therapeutics in the 3rd quarter valued at $100,000. 86.15% of the stock is currently owned by institutional investors and hedge funds.

Bicycle Therapeutics Trading Down 5.4%

The stock’s fifty day moving average price is $7.66 and its two-hundred day moving average price is $7.87. The firm has a market capitalization of $476.16 million, a price-to-earnings ratio of -1.90 and a beta of 1.48.

Bicycle Therapeutics (NASDAQ:BCYC) last announced its quarterly earnings data on Friday, August 8th. The company reported ($1.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.95) by ($0.19). Bicycle Therapeutics had a negative net margin of 884.51% and a negative return on equity of 36.05%. The firm had revenue of $2.90 million during the quarter, compared to analyst estimates of $9.43 million. Analysts anticipate that Bicycle Therapeutics PLC Sponsored ADR will post -3.06 earnings per share for the current fiscal year.

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.