Oppenheimer Cuts Bicycle Therapeutics (NASDAQ:BCYC) Price Target to $36.00

Bicycle Therapeutics (NASDAQ:BCYC) had its price objective decreased by Oppenheimer from $44.00 to $36.00 in a research report released on Wednesday morning,Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

A number of other research analysts also recently issued reports on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Bicycle Therapeutics in a research note on Monday, December 22nd. Needham & Company LLC dropped their target price on Bicycle Therapeutics from $24.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday. Morgan Stanley reaffirmed a “sell” rating and set a $13.00 price target on shares of Bicycle Therapeutics in a report on Tuesday. Truist Financial set a $8.00 price objective on Bicycle Therapeutics in a report on Tuesday. Finally, Royal Bank Of Canada cut their target price on Bicycle Therapeutics from $11.00 to $7.00 and set a “sector perform” rating on the stock in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Bicycle Therapeutics currently has a consensus rating of “Hold” and a consensus target price of $14.50.

Bicycle Therapeutics Stock Down 4.4%

Shares of BCYC opened at $4.35 on Wednesday. Bicycle Therapeutics has a fifty-two week low of $4.30 and a fifty-two week high of $9.69. The company has a market cap of $301.75 million, a P/E ratio of -1.38 and a beta of 1.65. The firm’s 50 day moving average price is $5.78 and its 200 day moving average price is $6.76.

Bicycle Therapeutics (NASDAQ:BCYC) last released its earnings results on Tuesday, March 17th. The company reported ($0.29) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.00) by $0.71. Bicycle Therapeutics had a negative return on equity of 33.21% and a negative net margin of 301.66%.The firm had revenue of $47.96 million during the quarter, compared to analyst estimates of $7.08 million. Research analysts forecast that Bicycle Therapeutics will post -3.06 earnings per share for the current year.

Insider Activity at Bicycle Therapeutics

In other news, CFO Alethia Young sold 4,334 shares of the firm’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $6.49, for a total transaction of $28,127.66. Following the transaction, the chief financial officer directly owned 87,081 shares in the company, valued at approximately $565,155.69. This trade represents a 4.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Kevin Lee sold 10,989 shares of Bicycle Therapeutics stock in a transaction on Monday, January 5th. The shares were sold at an average price of $6.46, for a total transaction of $70,988.94. Following the completion of the transaction, the chief executive officer directly owned 618,996 shares in the company, valued at $3,998,714.16. The trade was a 1.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 38,029 shares of company stock valued at $251,966 over the last three months. Corporate insiders own 22.90% of the company’s stock.

Institutional Trading of Bicycle Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the stock. Millennium Management LLC raised its stake in shares of Bicycle Therapeutics by 156.5% during the first quarter. Millennium Management LLC now owns 453,428 shares of the company’s stock worth $3,850,000 after purchasing an additional 276,671 shares during the last quarter. Goldman Sachs Group Inc. purchased a new position in Bicycle Therapeutics during the first quarter worth about $214,000. Woodline Partners LP acquired a new stake in Bicycle Therapeutics in the first quarter valued at about $3,088,000. Geode Capital Management LLC boosted its holdings in Bicycle Therapeutics by 89.0% in the 2nd quarter. Geode Capital Management LLC now owns 40,412 shares of the company’s stock valued at $281,000 after purchasing an additional 19,035 shares in the last quarter. Finally, Westfield Capital Management Co. LP raised its stake in shares of Bicycle Therapeutics by 4.6% during the 2nd quarter. Westfield Capital Management Co. LP now owns 2,780,491 shares of the company’s stock worth $19,324,000 after buying an additional 123,186 shares in the last quarter. 86.15% of the stock is owned by institutional investors and hedge funds.

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.