Needham & Company LLC Has Lowered Expectations for Bicycle Therapeutics (NASDAQ:BCYC) Stock Price

Bicycle Therapeutics (NASDAQ:BCYC) had its target price reduced by equities researchers at Needham & Company LLC from $15.00 to $14.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s price objective suggests a potential upside of 249.56% from the company’s previous close.

Several other equities research analysts have also commented on the company. Morgan Stanley decreased their price target on Bicycle Therapeutics from $13.00 to $12.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 8th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Bicycle Therapeutics in a report on Wednesday, July 8th. Citigroup reiterated a “market outperform” rating on shares of Bicycle Therapeutics in a research report on Wednesday, June 3rd. Wall Street Zen raised Bicycle Therapeutics from a “strong sell” rating to a “sell” rating in a report on Saturday, June 27th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $12.00 price target on shares of Bicycle Therapeutics in a research report on Thursday, April 30th. Five analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Bicycle Therapeutics presently has a consensus rating of “Hold” and an average price target of $13.86.

Bicycle Therapeutics Price Performance

NASDAQ BCYC traded up $0.14 on Thursday, hitting $4.00. 344,104 shares of the company’s stock were exchanged, compared to its average volume of 428,018. The firm’s 50-day moving average price is $4.21 and its two-hundred day moving average price is $4.95. Bicycle Therapeutics has a fifty-two week low of $3.81 and a fifty-two week high of $9.16. The firm has a market cap of $279.59 million, a price-to-earnings ratio of -1.27 and a beta of 1.55.

Bicycle Therapeutics (NASDAQ:BCYC) last issued its earnings results on Thursday, July 30th. The company reported ($0.72) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.35). The business had revenue of $0.63 million for the quarter. Bicycle Therapeutics had a negative return on equity of 35.74% and a negative net margin of 344.95%. On average, research analysts predict that Bicycle Therapeutics will post -1.97 earnings per share for the current fiscal year.

Insider Buying and Selling at Bicycle Therapeutics

In related news, CEO Kevin Lee sold 5,905 shares of the company’s stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $4.27, for a total transaction of $25,214.35. Following the transaction, the chief executive officer owned 605,408 shares of the company’s stock, valued at approximately $2,585,092.16. This represents a 0.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 9,977 shares of company stock valued at $42,702 over the last ninety days. Insiders own 22.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Clearstead Advisors LLC lifted its stake in shares of Bicycle Therapeutics by 234.2% during the 4th quarter. Clearstead Advisors LLC now owns 4,655 shares of the company’s stock worth $33,000 after purchasing an additional 3,262 shares during the period. GAMMA Investing LLC grew its position in shares of Bicycle Therapeutics by 512.9% in the second quarter. GAMMA Investing LLC now owns 7,704 shares of the company’s stock valued at $33,000 after purchasing an additional 6,447 shares during the period. Pinnacle Wealth Management Advisory Group LLC purchased a new stake in shares of Bicycle Therapeutics in the fourth quarter valued at $71,000. Ausdal Financial Partners Inc. acquired a new position in Bicycle Therapeutics in the second quarter valued at $70,000. Finally, Vontobel Holding Ltd. acquired a new position in Bicycle Therapeutics in the fourth quarter valued at $71,000. 86.15% of the stock is currently owned by institutional investors and hedge funds.

About Bicycle Therapeutics

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.