Truist Financial Initiates Coverage on Bicycle Therapeutics (NASDAQ:BCYC)

Truist Financial began coverage on shares of Bicycle Therapeutics (NASDAQ:BCYC) in a research report issued on Monday, Marketbeat Ratings reports. The brokerage set a “hold” rating and a $19.00 price target on the stock. Truist Financial’s price objective would indicate a potential upside of 176.56% from the stock’s current price.

Other analysts have also issued reports about the company. Oppenheimer reiterated an “outperform” rating and set a $44.00 price objective (down from $48.00) on shares of Bicycle Therapeutics in a report on Monday, August 11th. JMP Securities set a $12.00 price target on Bicycle Therapeutics in a research note on Friday, October 31st. Citigroup reiterated an “outperform” rating on shares of Bicycle Therapeutics in a report on Friday, October 31st. Weiss Ratings restated a “sell (e+)” rating on shares of Bicycle Therapeutics in a report on Monday, November 17th. Finally, Morgan Stanley reduced their target price on shares of 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. Seven research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $19.73.

Bicycle Therapeutics Stock Performance

Shares of BCYC opened at $6.87 on Monday. The company has a market capitalization of $476.57 million, a PE ratio of -1.90 and a beta of 1.48. The company’s 50 day moving average price is $7.48 and its 200 day moving average price is $7.67. Bicycle Therapeutics has a 52 week low of $6.03 and a 52 week high of $21.50.

Bicycle Therapeutics (NASDAQ:BCYC) last released its earnings results on Thursday, October 30th. The company reported ($0.85) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.09) by $0.24. The company had revenue of $11.73 million during the quarter, compared to the consensus estimate of $8.25 million. Bicycle Therapeutics had a negative net margin of 884.51% and a negative return on equity of 36.05%. On average, equities analysts forecast that Bicycle Therapeutics will post -3.06 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Bicycle Therapeutics news, CEO Kevin Lee sold 3,231 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer owned 475,310 shares of the company’s stock, valued at $3,997,357.10. This represents a 0.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last three months, insiders sold 8,527 shares of company stock valued at $71,738. 8.50% of the stock is currently owned by insiders.

Institutional Trading of Bicycle Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the company. Assetmark Inc. boosted its holdings in shares of Bicycle Therapeutics by 74.9% during the 3rd quarter. Assetmark Inc. now owns 3,625 shares of the company’s stock worth $28,000 after buying an additional 1,552 shares during the period. Ausdal Financial Partners Inc. acquired a new position in Bicycle Therapeutics during the 2nd quarter worth $70,000. Sei Investments Co. acquired a new position in Bicycle Therapeutics during the 2nd quarter worth $74,000. Virtus Investment Advisers LLC boosted its holdings in Bicycle Therapeutics by 32.6% during the second 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 during the period. Finally, Ameriprise Financial Inc. acquired a new stake in shares of Bicycle Therapeutics in the second quarter valued at about $86,000. 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.