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

Bicycle Therapeutics (NASDAQ:BCYC) had its price target decreased by Barclays from $40.00 to $15.00 in a report issued on Thursday,Benzinga reports. Barclays currently has an overweight rating on the stock.

BCYC has been the topic of a number of other research reports. HC Wainwright reaffirmed a “buy” rating and issued a $33.00 price objective on shares of Bicycle Therapeutics in a report on Wednesday, February 26th. Needham & Company LLC reaffirmed a “buy” rating and set a $30.00 price objective on shares of Bicycle Therapeutics in a report on Wednesday, April 9th. Finally, Stephens reissued an “equal weight” rating and issued a $15.00 target price on shares of Bicycle Therapeutics in a report on Wednesday, January 22nd. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $26.00.

Bicycle Therapeutics Price Performance

Shares of BCYC opened at $9.30 on Thursday. Bicycle Therapeutics has a 1-year low of $6.10 and a 1-year high of $28.67. The stock has a market cap of $643.58 million, a PE ratio of -2.83 and a beta of 1.60. The firm has a fifty day moving average price of $8.71 and a 200 day moving average price of $14.39.

Bicycle Therapeutics (NASDAQ:BCYC) last posted its quarterly earnings data on Thursday, May 1st. The company reported ($0.88) EPS for the quarter, missing the consensus estimate of ($0.86) by ($0.02). Bicycle Therapeutics had a negative net margin of 450.64% and a negative return on equity of 27.35%. The company had revenue of $9.98 million for the quarter, compared to analysts’ expectations of $8.67 million. As a group, equities analysts expect that Bicycle Therapeutics will post -3.06 EPS for the current fiscal year.

Institutional Trading of Bicycle Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Point72 Asset Management L.P. increased its position in Bicycle Therapeutics by 406.2% during the fourth quarter. Point72 Asset Management L.P. now owns 4,554,900 shares of the company’s stock worth $63,769,000 after purchasing an additional 3,655,101 shares during the last quarter. Baker BROS. Advisors LP lifted its position in shares of Bicycle Therapeutics by 15.8% during 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 during the last quarter. Fcpm Iii Services B.V. raised its position in shares of Bicycle Therapeutics by 47.5% during the 4th quarter. Fcpm Iii Services B.V. now owns 3,452,330 shares of the company’s stock valued at $48,333,000 after acquiring an additional 1,112,369 shares in the last quarter. Long Focus Capital Management LLC bought a new stake in shares of Bicycle Therapeutics during the 4th quarter valued at about $7,603,000. Finally, Principal Financial Group Inc. bought a new position in Bicycle Therapeutics during the 3rd quarter worth $10,028,000. 86.15% of the stock is currently owned by hedge funds and other institutional investors.

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.