Bicycle Therapeutics (NASDAQ:BCYC) Lowered to “Sector Perform” Rating by Royal Bank Of Canada

Bicycle Therapeutics (NASDAQ:BCYC) was downgraded by Royal Bank Of Canada from an “outperform” rating to a “sector perform” rating in a research note issued to investors on Friday, MarketBeat reports. They currently have a $11.00 price target on the stock. Royal Bank Of Canada’s target price would suggest a potential upside of 36.31% from the stock’s previous close.

Other equities research analysts have also issued research reports about the company. Citigroup reiterated an “outperform” rating on shares of Bicycle Therapeutics in a research note on Friday. Morgan Stanley lowered their target price 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. JMP Securities set a $12.00 target price on Bicycle Therapeutics in a research note on Friday. Citizens Jmp increased their price target on Bicycle Therapeutics from $10.00 to $12.00 and gave the company a “market outperform” rating in a report on Friday. Finally, Oppenheimer reissued an “outperform” rating and issued a $44.00 price target (down previously from $48.00) on shares of Bicycle Therapeutics in a report on Monday, August 11th. Seven research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Bicycle Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $19.80.

Bicycle Therapeutics Trading Down 7.9%

Shares of NASDAQ BCYC opened at $8.07 on Friday. The firm has a fifty day simple moving average of $7.66 and a two-hundred day simple moving average of $7.88. The firm has a market capitalization of $559.33 million, a PE ratio of -2.23 and a beta of 1.48. Bicycle Therapeutics has a 12 month low of $6.10 and a 12 month high of $25.39.

Bicycle Therapeutics (NASDAQ:BCYC) last released its earnings results on Friday, August 8th. The company reported ($1.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.95) by ($0.19). Bicycle Therapeutics had a negative return on equity of 36.05% and a negative net margin of 884.51%.The business had revenue of $2.90 million during the quarter, compared to analysts’ expectations of $9.43 million. On average, sell-side analysts predict that Bicycle Therapeutics will post -3.06 earnings per share for the current year.

Insider Activity

In other Bicycle Therapeutics news, CEO Kevin Lee sold 3,231 shares of Bicycle Therapeutics stock in a transaction on Friday, October 3rd. The stock was sold at an average price of $8.41, for a total transaction of $27,172.71. Following the completion of the transaction, the chief executive officer directly owned 475,310 shares of the company’s stock, valued at approximately $3,997,357.10. This trade represents a 0.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 8,527 shares of company stock worth $71,738 over the last three months. 8.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Bicycle Therapeutics

Institutional investors have recently bought and sold shares of the company. Ausdal Financial Partners Inc. bought a new stake in Bicycle Therapeutics in the 2nd quarter valued at approximately $70,000. Sei Investments Co. bought a new stake in Bicycle Therapeutics in the 2nd quarter valued at approximately $74,000. Virtus Investment Advisers LLC lifted its stake in Bicycle Therapeutics by 32.6% in the 2nd quarter. Virtus Investment Advisers LLC now owns 10,821 shares of the company’s stock valued at $75,000 after acquiring an additional 2,659 shares in the last quarter. Ameriprise Financial Inc. bought a new stake in Bicycle Therapeutics in the 2nd quarter valued at approximately $86,000. Finally, Vanguard Personalized Indexing Management LLC bought a new stake in Bicycle Therapeutics in the 3rd quarter valued at approximately $100,000. 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.