Bicycle Therapeutics (NASDAQ:BCYC) Price Target Cut to $12.00 by Analysts at Morgan Stanley

Bicycle Therapeutics (NASDAQ:BCYC) had its price target cut by Morgan Stanley from $13.00 to $12.00 in a research report released on Wednesday morning,Benzinga reports. They currently have an equal weight rating on the stock.

Several other brokerages have also recently issued reports on BCYC. Jefferies Financial Group upgraded Bicycle Therapeutics to a “strong-buy” rating in a research note on Tuesday, February 17th. Citizens Jmp cut their price target on Bicycle Therapeutics from $12.00 to $8.00 and set a “market outperform” rating for the company in a research note on Wednesday, March 18th. Needham & Company LLC cut their price target on Bicycle Therapeutics from $24.00 to $15.00 and set a “buy” rating for the company in a research note on Wednesday, March 18th. Royal Bank Of Canada cut their price target on Bicycle Therapeutics from $11.00 to $7.00 and set a “sector perform” rating for the company 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 equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $14.38.

Bicycle Therapeutics Trading Up 1.6%

Shares of BCYC stock opened at $4.98 on Wednesday. The stock has a market cap of $347.16 million, a P/E ratio of -1.58 and a beta of 1.65. The stock has a 50 day simple moving average of $5.25 and a 200 day simple moving average of $6.54. Bicycle Therapeutics has a 1 year low of $4.24 and a 1 year high of $9.55.

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

Insider Buying and Selling

In other Bicycle Therapeutics news, CEO Kevin Lee sold 5,967 shares of the business’s stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $4.91, for a total transaction of $29,297.97. Following the completion of the transaction, the chief executive officer directly owned 613,029 shares in the company, valued at $3,009,972.39. The trade was a 0.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 9,992 shares of company stock worth $49,363 in the last three months. 22.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in BCYC. Assetmark Inc. raised its position in Bicycle Therapeutics by 74.9% during the third quarter. Assetmark Inc. now owns 3,625 shares of the company’s stock valued at $28,000 after purchasing an additional 1,552 shares in the last quarter. Clearstead Advisors LLC raised its position in Bicycle Therapeutics by 234.2% during the fourth quarter. Clearstead Advisors LLC now owns 4,655 shares of the company’s stock valued at $33,000 after purchasing an additional 3,262 shares in the last quarter. Brooklyn Investment Group acquired a new position in Bicycle Therapeutics during the fourth quarter valued at approximately $69,000. Ausdal Financial Partners Inc. acquired a new position in Bicycle Therapeutics during the second quarter valued at approximately $70,000. Finally, Pinnacle Wealth Management Advisory Group LLC acquired a new position in Bicycle Therapeutics during the fourth quarter valued at approximately $71,000. 86.15% of the stock is currently 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.