Morgan Stanley Has Lowered Expectations for Bicycle Therapeutics (NASDAQ:BCYC) Stock Price

Bicycle Therapeutics (NASDAQ:BCYC) had its price objective reduced by stock analysts at Morgan Stanley from $13.00 to $12.00 in a report released on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s target price would indicate a potential upside of 141.45% from the stock’s current price.

A number of other analysts have also recently commented on the stock. Wall Street Zen upgraded shares of Bicycle Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, March 21st. Jefferies Financial Group upgraded shares of Bicycle Therapeutics to a “strong-buy” rating in a research note on Tuesday, February 17th. Truist Financial set a $8.00 target price on shares of Bicycle Therapeutics in a research note on Tuesday, March 17th. Citizens Jmp lowered their target price on shares of Bicycle Therapeutics from $12.00 to $8.00 and set a “market outperform” rating on the stock in a research note on Wednesday, March 18th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Bicycle Therapeutics in a research note on Monday, December 22nd. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Bicycle Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $14.38.

Bicycle Therapeutics Trading Down 0.2%

Shares of BCYC stock opened at $4.97 on Wednesday. The stock has a market capitalization of $346.46 million, a P/E ratio of -1.57 and a beta of 1.65. The firm’s 50 day moving average is $5.22 and its 200 day moving average is $6.53. Bicycle Therapeutics has a 12 month low of $4.24 and a 12 month high of $9.55.

Bicycle Therapeutics (NASDAQ:BCYC) last announced its quarterly earnings results on Wednesday, March 18th. The company reported ($0.29) EPS for the quarter, beating analysts’ consensus estimates of ($1.00) by $0.71. The company had revenue of $47.96 million for the quarter, compared to analysts’ expectations of $7.08 million. Bicycle Therapeutics had a negative net margin of 301.66% and a negative return on equity of 33.21%. On average, equities analysts predict that Bicycle Therapeutics will post -3.06 EPS for the current year.

Insider Transactions at Bicycle Therapeutics

In other Bicycle Therapeutics news, CEO Kevin Lee sold 5,967 shares of the stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $4.91, for a total value of $29,297.97. Following the sale, the chief executive officer directly owned 613,029 shares in the company, valued at $3,009,972.39. This represents a 0.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 9,992 shares of company stock valued at $49,363. Corporate insiders own 22.90% of the company’s stock.

Institutional Trading of Bicycle Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in BCYC. GSK plc purchased a new stake in shares of Bicycle Therapeutics during the 4th quarter valued at $10,829,000. Schroder Investment Management Group purchased a new stake in shares of Bicycle Therapeutics during the 4th quarter valued at $3,976,000. Principal Financial Group Inc. raised its position in shares of Bicycle Therapeutics by 64.7% during the 3rd quarter. Principal Financial Group Inc. now owns 1,148,402 shares of the company’s stock valued at $8,889,000 after buying an additional 451,135 shares in the last quarter. Woodline Partners LP purchased a new stake in shares of Bicycle Therapeutics during the 1st quarter valued at $3,088,000. Finally, Birchview Capital LP raised its position in shares of Bicycle Therapeutics by 200.5% during the 4th quarter. Birchview Capital LP now owns 462,700 shares of the company’s stock valued at $3,276,000 after buying an additional 308,700 shares in the last quarter. Hedge funds and other institutional investors 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.