Bicycle Therapeutics (NASDAQ:BCYC) Given New $7.00 Price Target at Royal Bank Of Canada

Bicycle Therapeutics (NASDAQ:BCYC) had its target price cut by equities research analysts at Royal Bank Of Canada from $11.00 to $7.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “sector perform” rating on the stock. Royal Bank Of Canada’s price objective indicates a potential upside of 50.21% from the company’s current price.

BCYC has been the topic of several other research reports. Citizens Jmp lowered their target price on shares of Bicycle Therapeutics from $12.00 to $8.00 and set a “market outperform” rating on the stock in a research note on Wednesday. Truist Financial set a $8.00 target price on shares of Bicycle Therapeutics in a research report on Tuesday. Weiss Ratings restated a “sell (e+)” rating on shares of Bicycle Therapeutics in a research report on Monday, December 22nd. Morgan Stanley reaffirmed a “sell” rating and set a $13.00 price objective on shares of Bicycle Therapeutics in a research note on Tuesday. Finally, Needham & Company LLC cut their price objective on shares of Bicycle Therapeutics from $24.00 to $15.00 and set a “buy” rating for the company in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $15.50.

Bicycle Therapeutics Trading Down 8.1%

NASDAQ:BCYC traded down $0.41 during trading hours on Wednesday, hitting $4.66. 64,808 shares of the stock were exchanged, compared to its average volume of 356,626. The firm’s fifty day moving average price is $5.91 and its 200 day moving average price is $6.81. Bicycle Therapeutics has a 52-week low of $4.64 and a 52-week high of $9.94. The company has a market cap of $323.25 million, a P/E ratio of -1.28 and a beta of 1.65.

Bicycle Therapeutics (NASDAQ:BCYC) last issued its quarterly earnings results 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 return on equity of 36.05% and a negative net margin of 884.51%.The firm had revenue of $47.96 million for the quarter, compared to analyst estimates of $7.08 million. Equities analysts expect that Bicycle Therapeutics will post -3.06 EPS for the current fiscal year.

Insider Activity

In other Bicycle Therapeutics news, CFO Alethia Young sold 4,334 shares of Bicycle Therapeutics stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $6.49, for a total transaction of $28,127.66. Following the completion of the sale, the chief financial officer directly owned 87,081 shares in the company, valued at $565,155.69. This trade represents a 4.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Kevin Lee sold 10,989 shares of the business’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $6.46, for a total transaction of $70,988.94. Following the completion of the sale, the chief executive officer directly owned 618,996 shares in the company, valued at $3,998,714.16. This trade represents a 1.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 38,029 shares of company stock valued at $251,966. 8.50% of the stock is currently owned by insiders.

Institutional Trading of Bicycle Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Assetmark Inc. boosted its position in shares of Bicycle Therapeutics by 74.9% during the third quarter. Assetmark Inc. now owns 3,625 shares of the company’s stock worth $28,000 after buying an additional 1,552 shares during the period. Clearstead Advisors LLC raised its holdings in shares of Bicycle Therapeutics by 234.2% in the 4th 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 period. Brooklyn Investment Group acquired a new position in Bicycle Therapeutics during the 4th quarter worth about $69,000. Ausdal Financial Partners Inc. acquired a new position in Bicycle Therapeutics during the 2nd quarter worth about $70,000. Finally, Pinnacle Wealth Management Advisory Group LLC purchased a new position in Bicycle Therapeutics during the 4th quarter valued at about $71,000. Hedge funds and other institutional investors own 86.15% of the company’s stock.

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.