Barclays Lowers Bicycle Therapeutics (NASDAQ:BCYC) Price Target to $15.00

Bicycle Therapeutics (NASDAQ:BCYC) had its price objective reduced by analysts at Barclays from $40.00 to $15.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s target price would indicate a potential upside of 61.29% from the company’s previous close.

A number of other equities research analysts have also recently issued reports on the stock. Needham & Company LLC reissued a “buy” rating and issued a $30.00 price target on shares of Bicycle Therapeutics in a research note on Wednesday, April 9th. HC Wainwright reiterated a “buy” rating and issued a $33.00 target price on shares of Bicycle Therapeutics in a research report on Wednesday, February 26th. Finally, Stephens restated an “equal weight” rating and set a $15.00 price target on shares of Bicycle Therapeutics in a research report on Wednesday, January 22nd. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $26.00.

Bicycle Therapeutics Stock Performance

BCYC stock opened at $9.30 on Thursday. Bicycle Therapeutics has a one year low of $6.10 and a one year high of $28.67. The firm’s fifty day moving average is $8.71 and its 200 day moving average is $14.48. The firm has a market cap of $643.58 million, a PE ratio of -2.83 and a beta of 1.40.

Bicycle Therapeutics (NASDAQ:BCYC) last posted its earnings results on Thursday, May 1st. The company reported ($0.88) EPS for the quarter, missing analysts’ consensus estimates of ($0.86) by ($0.02). The business had revenue of $9.98 million for the quarter, compared to analyst estimates of $8.67 million. Bicycle Therapeutics had a negative net margin of 450.64% and a negative return on equity of 27.35%. Research analysts predict that Bicycle Therapeutics will post -3.06 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Barclays PLC lifted its position in Bicycle Therapeutics by 878.3% during the fourth quarter. Barclays PLC now owns 2,612 shares of the company’s stock worth $37,000 after buying an additional 2,345 shares in the last quarter. Avior Wealth Management LLC purchased a new position in shares of Bicycle Therapeutics during the 4th quarter worth $57,000. GAMMA Investing LLC boosted its position in shares of Bicycle Therapeutics by 879.5% during the 1st quarter. GAMMA Investing LLC now owns 8,982 shares of the company’s stock valued at $76,000 after acquiring an additional 8,065 shares during the last quarter. Exchange Traded Concepts LLC increased its position in Bicycle Therapeutics by 90.3% during the first quarter. Exchange Traded Concepts LLC now owns 12,764 shares of the company’s stock worth $108,000 after purchasing an additional 6,057 shares during the last quarter. Finally, Cerity Partners LLC purchased a new position in Bicycle Therapeutics during the first quarter worth about $113,000. 86.15% of the stock is currently owned by institutional investors and hedge funds.

Bicycle Therapeutics Company Profile

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.