Royal Bank Of Canada Has Lowered Expectations for Bicycle Therapeutics (NASDAQ:BCYC) Stock Price

Bicycle Therapeutics (NASDAQ:BCYC - Free Report) had its price target cut by Royal Bank Of Canada from $32.00 to $25.00 in a research report released on Thursday,Benzinga reports. They currently have an outperform rating on the stock.

A number of other research firms have also recently commented on BCYC. Morgan Stanley set a $17.00 price objective on shares of Bicycle Therapeutics and gave the company an "equal weight" rating in a research report on Monday, May 5th. Barclays lowered their target price on shares of Bicycle Therapeutics from $40.00 to $15.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. B. Riley cut their price objective on shares of Bicycle Therapeutics from $17.00 to $14.00 and set a "neutral" rating for the company in a report on Friday, May 2nd. JMP Securities cut their price target on shares of Bicycle Therapeutics from $26.00 to $22.00 and set a "market outperform" rating on the stock in a report on Friday, May 2nd. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $29.00 target price on shares of Bicycle Therapeutics in a report on Friday, May 2nd. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $24.22.

Bicycle Therapeutics Stock Up 6.5%

Shares of NASDAQ BCYC traded up $0.52 during mid-day trading on Thursday, reaching $8.56. 501,623 shares of the company were exchanged, compared to its average volume of 400,096. The stock has a market cap of $592.78 million, a price-to-earnings ratio of -2.73 and a beta of 1.41. The firm has a 50-day moving average of $7.96 and a 200 day moving average of $9.59. Bicycle Therapeutics has a 1 year low of $6.10 and a 1 year high of $28.67.

Bicycle Therapeutics (NASDAQ:BCYC - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported ($0.88) earnings per share for the quarter, missing analysts' consensus estimates of ($0.86) by ($0.02). Bicycle Therapeutics had a negative return on equity of 25.54% and a negative net margin of 790.07%. The company had revenue of $9.98 million for the quarter, compared to analyst estimates of $8.67 million. On average, equities analysts forecast that Bicycle Therapeutics will post -3.06 earnings per share for the current year.

Institutional Trading of Bicycle Therapeutics

A number of institutional investors have recently added to or reduced their stakes in BCYC. Point72 Asset Management L.P. increased its position in Bicycle Therapeutics by 406.2% during the 4th quarter. Point72 Asset Management L.P. now owns 4,554,900 shares of the company's stock valued at $63,769,000 after buying an additional 3,655,101 shares in the last quarter. Baker BROS. Advisors LP grew its stake in Bicycle Therapeutics by 15.8% in the fourth quarter. Baker BROS. Advisors LP now owns 10,885,357 shares of the company's stock worth $152,395,000 after purchasing an additional 1,485,397 shares in the last quarter. Fcpm Iii Services B.V. lifted its holdings in Bicycle Therapeutics by 47.5% during the fourth quarter. Fcpm Iii Services B.V. now owns 3,452,330 shares of the company's stock worth $48,333,000 after buying an additional 1,112,369 shares during the period. Long Focus Capital Management LLC raised its stake in Bicycle Therapeutics by 138.2% in the 1st quarter. Long Focus Capital Management LLC now owns 1,293,753 shares of the company's stock worth $10,984,000 after acquiring an additional 750,661 shares during the last quarter. Finally, Armistice Capital LLC raised its stake in shares of Bicycle Therapeutics by 21.7% during the 1st quarter. Armistice Capital LLC now owns 2,672,000 shares of the company's stock valued at $22,685,000 after buying an additional 476,000 shares during the last quarter. Hedge funds and other institutional investors own 86.15% of the company's stock.

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.