Bicycle Therapeutics PLC Sponsored ADR (NASDAQ:BCYC) Given Consensus Rating of "Moderate Buy" by Brokerages

Key Points

• Bicycle Therapeutics PLC (NASDAQ:BCYC) has received an average recommendation of “Moderate Buy” from ten brokerages, with varying ratings including six buy, three hold, and one sell.
• The stock's average 12-month target price is $22.22, while some analysts have set targets as high as $44.00 and as low as $10.00.
• Bicycle Therapeutics reported a loss of ($1.14) earnings per share, missing consensus estimates, and had revenue of only $2.90 million for the last quarter, significantly below expectations.

Shares of Bicycle Therapeutics PLC Sponsored ADR (NASDAQ:BCYC - Get Free Report) have earned an average recommendation of "Moderate Buy" from the ten brokerages that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and six have given a buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $22.2222.

A number of research analysts have recently commented on BCYC shares. Oppenheimer reiterated an "outperform" rating and issued a $44.00 price target (down from $48.00) on shares of Bicycle Therapeutics in a research note on Monday, August 11th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Bicycle Therapeutics in a research note on Saturday, September 27th. Royal Bank Of Canada set a $27.00 price target on Bicycle Therapeutics and gave the company an "outperform" rating in a research note on Monday, August 11th. JMP Securities dropped their price target on Bicycle Therapeutics from $22.00 to $10.00 and set a "market outperform" rating for the company in a research note on Tuesday, August 12th. Finally, Morgan Stanley dropped their price target on Bicycle Therapeutics from $17.00 to $13.00 and set an "equal weight" rating for the company in a research note on Tuesday, August 12th.

Bicycle Therapeutics Price Performance

NASDAQ BCYC opened at $8.32 on Friday. The business has a fifty day moving average price of $7.44 and a two-hundred day moving average price of $7.79. Bicycle Therapeutics has a fifty-two week low of $6.10 and a fifty-two week high of $28.67. The stock has a market capitalization of $576.66 million, a PE ratio of -2.37 and a beta of 1.47.

Bicycle Therapeutics (NASDAQ:BCYC - Get Free Report) last released its earnings results on Friday, August 8th. The company reported ($1.14) earnings per share for the quarter, missing the consensus estimate of ($0.95) by ($0.19). Bicycle Therapeutics had a negative return on equity of 32.43% and a negative net margin of 1,257.00%.The business had revenue of $2.90 million for the quarter, compared to the consensus estimate of $9.43 million. As a group, sell-side analysts expect that Bicycle Therapeutics will post -3.06 earnings per share for the current year.

Insider Activity at Bicycle Therapeutics

In related news, CEO Kevin Lee sold 3,231 shares of the stock in a transaction on Friday, October 3rd. The stock was sold at an average price of $8.41, for a total value of $27,172.71. Following the completion of the sale, the chief executive officer directly owned 475,310 shares in the company, valued at $3,997,357.10. This represents a 0.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last three months, insiders sold 8,527 shares of company stock valued at $71,738. 22.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Bicycle Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of BCYC. GAMMA Investing LLC increased its holdings in Bicycle Therapeutics by 879.5% in the first quarter. GAMMA Investing LLC now owns 8,982 shares of the company's stock valued at $76,000 after purchasing an additional 8,065 shares during the period. Exchange Traded Concepts LLC increased its holdings in Bicycle Therapeutics by 90.3% in the first quarter. Exchange Traded Concepts LLC now owns 12,764 shares of the company's stock valued at $108,000 after purchasing an additional 6,057 shares during the period. Principal Financial Group Inc. increased its holdings in Bicycle Therapeutics by 55.3% in the first quarter. Principal Financial Group Inc. now owns 631,260 shares of the company's stock valued at $5,359,000 after purchasing an additional 224,790 shares during the period. Cerity Partners LLC acquired a new stake in Bicycle Therapeutics in the first quarter valued at $113,000. Finally, Jefferies Financial Group Inc. acquired a new stake in Bicycle Therapeutics in the first quarter valued at $3,471,000. 86.15% of the stock is currently owned by institutional investors and hedge funds.

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.

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