Citizens Jmp Cuts Bicycle Therapeutics (NASDAQ:BCYC) Price Target to $8.00

Bicycle Therapeutics (NASDAQ:BCYC) had its price objective lowered by Citizens Jmp from $12.00 to $8.00 in a report published on Wednesday,Benzinga reports. The firm currently has a market outperform rating on the stock.

Other research analysts also recently issued reports about the company. Weiss Ratings restated a “sell (e+)” rating on shares of Bicycle Therapeutics in a research note on Monday, December 22nd. Needham & Company LLC lowered their target price on shares of Bicycle Therapeutics from $24.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday. Morgan Stanley restated a “sell” rating and set a $13.00 target price on shares of Bicycle Therapeutics in a research report on Tuesday. Truist Financial set a $8.00 target price on shares of Bicycle Therapeutics in a research note on Tuesday. Finally, Jefferies Financial Group upgraded shares of Bicycle Therapeutics to a “strong-buy” rating in a report on Tuesday, February 17th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $14.50.

Bicycle Therapeutics Stock Down 4.4%

Shares of Bicycle Therapeutics stock opened at $4.35 on Wednesday. The company has a market capitalization of $301.75 million, a price-to-earnings ratio of -1.38 and a beta of 1.65. The stock’s 50-day simple moving average is $5.78 and its 200-day simple moving average is $6.76. Bicycle Therapeutics has a 52 week low of $4.30 and a 52 week high of $9.69.

Bicycle Therapeutics (NASDAQ:BCYC) last released its earnings results on Tuesday, March 17th. The company reported ($0.29) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.00) by $0.71. The firm had revenue of $47.96 million during the quarter, compared to analysts’ expectations of $7.08 million. Bicycle Therapeutics had a negative return on equity of 33.21% and a negative net margin of 301.66%. On average, equities analysts expect that Bicycle Therapeutics will post -3.06 earnings per share for the current year.

Insider Transactions at Bicycle Therapeutics

In other news, CFO Alethia Young sold 4,334 shares of the firm’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $6.49, for a total transaction of $28,127.66. Following 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 position. The transaction 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 Bicycle Therapeutics stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $6.46, for a total value of $70,988.94. Following the completion of the transaction, the chief executive officer owned 618,996 shares of the company’s stock, valued at approximately $3,998,714.16. This represents a 1.74% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 38,029 shares of company stock worth $251,966 over the last 90 days. Insiders own 22.90% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. GSK plc purchased a new position in shares of Bicycle Therapeutics during the 4th quarter valued at approximately $10,829,000. Schroder Investment Management Group purchased a new stake in Bicycle Therapeutics in the 4th quarter worth $3,976,000. Principal Financial Group Inc. increased its holdings in Bicycle Therapeutics by 64.7% in the 3rd quarter. Principal Financial Group Inc. now owns 1,148,402 shares of the company’s stock worth $8,889,000 after acquiring an additional 451,135 shares in the last quarter. Woodline Partners LP acquired a new position in Bicycle Therapeutics during the first quarter worth $3,088,000. Finally, Birchview Capital LP lifted its holdings in Bicycle Therapeutics by 200.5% during the fourth quarter. Birchview Capital LP now owns 462,700 shares of the company’s stock valued at $3,276,000 after purchasing an additional 308,700 shares in the last quarter. 86.15% of the stock is owned by institutional investors and hedge funds.

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.