Bicycle Therapeutics (NASDAQ:BCYC) Given New $14.00 Price Target at Needham & Company LLC

Key Points

• Needham lowered its price target for Bicycle Therapeutics from $15 to $14 while maintaining a “buy” rating, implying substantial upside from the stock’s prior close. The broader analyst consensus is “Hold,” with an average target of $13.86.
• Bicycle Therapeutics shares traded at about $4.00, near their 12-month low of $3.81, after the company reported a quarterly loss of $0.72 per share—worse than the $0.37 consensus estimate—and revenue of just $0.63 million.
• Institutional ownership remains high at 86.15%, with GSK and Schroder Investment Management among recent new investors; meanwhile, CEO Kevin Lee sold shares primarily to cover tax obligations tied to vested equity awards.

Bicycle Therapeutics (NASDAQ:BCYC - Get Free Report) had its price objective cut by research analysts at Needham & Company LLC from $15.00 to $14.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Needham & Company LLC's target price suggests a potential upside of 249.56% from the stock's previous close.

Several other equities research analysts have also recently weighed in on the company. Weiss Ratings restated a "sell (e+)" rating on shares of Bicycle Therapeutics in a research note on Wednesday, July 8th. Morgan Stanley cut their price objective on shares of Bicycle Therapeutics from $13.00 to $12.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 8th. Wall Street Zen upgraded shares of Bicycle Therapeutics from a "strong sell" rating to a "sell" rating in a research report on Saturday, June 27th. Jefferies Financial Group restated a "buy" rating and issued a $12.00 target price on shares of Bicycle Therapeutics in a report on Thursday, April 30th. Finally, Citigroup reaffirmed a "market outperform" rating on shares of Bicycle Therapeutics in a research report on Wednesday, June 3rd. Five equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $13.86.

Bicycle Therapeutics Price Performance

Shares of Bicycle Therapeutics stock traded up $0.14 during trading on Thursday, hitting $4.00. 344,104 shares of the stock were exchanged, compared to its average volume of 428,018. The firm's 50-day moving average price is $4.21 and its 200 day moving average price is $4.95. The stock has a market cap of $279.59 million, a price-to-earnings ratio of -1.27 and a beta of 1.55. Bicycle Therapeutics has a 12-month low of $3.81 and a 12-month high of $9.16.

Bicycle Therapeutics (NASDAQ:BCYC - Get Free Report) last posted its earnings results on Thursday, July 30th. The company reported ($0.72) EPS for the quarter, missing the consensus estimate of ($0.37) by ($0.35). The business had revenue of $0.63 million during the quarter. Bicycle Therapeutics had a negative net margin of 344.95% and a negative return on equity of 35.74%. As a group, research analysts forecast that Bicycle Therapeutics will post -1.97 earnings per share for the current year.

Insider Transactions at Bicycle Therapeutics

In other Bicycle Therapeutics news, CEO Kevin Lee sold 5,905 shares of the company's stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $4.27, for a total transaction of $25,214.35. Following the completion of the sale, the chief executive officer directly owned 605,408 shares of the company's stock, valued at $2,585,092.16. This represents a 0.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 9,977 shares of company stock valued at $42,702. Insiders own 22.00% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. GSK plc acquired a new stake in shares of Bicycle Therapeutics during the fourth quarter worth $10,829,000. Schroder Investment Management Group acquired a new position in Bicycle Therapeutics in the 4th quarter valued at $3,976,000. Renaissance Technologies LLC raised its position in Bicycle Therapeutics by 72.8% during the 1st quarter. Renaissance Technologies LLC now owns 979,300 shares of the company's stock worth $4,544,000 after buying an additional 412,700 shares during the last quarter. Woodline Partners LP purchased a new position in Bicycle Therapeutics during the 1st quarter worth $3,088,000. Finally, Birchview Capital LP lifted its stake in shares of Bicycle Therapeutics by 200.5% in the 4th quarter. Birchview Capital LP now owns 462,700 shares of the company's stock worth $3,276,000 after acquiring an additional 308,700 shares during the period. Institutional investors and hedge funds own 86.15% of the company's stock.

Bicycle Therapeutics Company Profile

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.

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