Bicycle Therapeutics (NASDAQ:BCYC) Trading Down 8.8% Following Analyst Downgrade

Bicycle Therapeutics PLC Sponsored ADR (NASDAQ:BCYC - Get Free Report)'s stock price fell 8.8% during trading on Monday after Royal Bank Of Canada downgraded the stock from an outperform rating to a sector perform rating. Royal Bank Of Canada now has a $11.00 price target on the stock, down from their previous price target of $27.00. Bicycle Therapeutics traded as low as $7.40 and last traded at $7.36. 168,478 shares changed hands during trading, a decline of 46% from the average session volume of 309,490 shares. The stock had previously closed at $8.07.

A number of other research analysts have also recently weighed in on the stock. Morgan Stanley dropped their target price on shares of Bicycle Therapeutics from $17.00 to $13.00 and set an "equal weight" rating on the stock in a research note on Tuesday, August 12th. Oppenheimer reiterated an "outperform" rating and issued a $44.00 target price (down from $48.00) on shares of Bicycle Therapeutics in a research note on Monday, August 11th. Citizens Jmp boosted their target price on shares of Bicycle Therapeutics from $10.00 to $12.00 and gave the company a "market outperform" rating in a research note on Friday. JMP Securities set a $12.00 target price on shares of Bicycle Therapeutics in a research note on Friday. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Bicycle Therapeutics in a research note on Tuesday, October 14th. Seven research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $19.80.

Read Our Latest Report on Bicycle Therapeutics

Insider Transactions at Bicycle Therapeutics

In other Bicycle Therapeutics news, CEO Kevin Lee sold 3,231 shares of the stock in a transaction that occurred on Friday, October 3rd. The shares were sold at an average price of $8.41, for a total value of $27,172.71. Following the sale, the chief executive officer directly owned 475,310 shares in the company, valued at $3,997,357.10. This represents a 0.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last 90 days, insiders have sold 8,527 shares of company stock valued at $71,738. Corporate insiders own 22.90% of the company's stock.

Hedge Funds Weigh In On Bicycle Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the business. Armistice Capital LLC grew its holdings in shares of Bicycle Therapeutics by 4.8% during the 2nd quarter. Armistice Capital LLC now owns 2,800,000 shares of the company's stock valued at $19,460,000 after purchasing an additional 128,000 shares during the last quarter. Westfield Capital Management Co. LP grew its holdings 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 valued at $19,324,000 after purchasing an additional 123,186 shares during the last quarter. Long Focus Capital Management LLC grew its holdings in shares of Bicycle Therapeutics by 138.2% during the 1st quarter. Long Focus Capital Management LLC now owns 1,293,753 shares of the company's stock valued at $10,984,000 after purchasing an additional 750,661 shares during the last quarter. Candriam S.C.A. grew its holdings in shares of Bicycle Therapeutics by 10.8% during the 1st quarter. Candriam S.C.A. now owns 1,205,207 shares of the company's stock valued at $10,232,000 after purchasing an additional 117,331 shares during the last quarter. Finally, Tybourne Capital Management HK Ltd. grew its holdings in shares of Bicycle Therapeutics by 72.4% during the 2nd quarter. Tybourne Capital Management HK Ltd. now owns 993,743 shares of the company's stock valued at $6,907,000 after purchasing an additional 417,400 shares during the last quarter. Institutional investors own 86.15% of the company's stock.

Bicycle Therapeutics Trading Down 8.6%

The company's fifty day moving average is $7.66 and its 200 day moving average is $7.88. The company has a market cap of $511.14 million, a P/E ratio of -2.04 and a beta of 1.47.

Bicycle Therapeutics (NASDAQ:BCYC - Get Free Report) last released its earnings results on Friday, August 8th. The company reported ($1.14) EPS for the quarter, missing the consensus estimate of ($0.95) by ($0.19). Bicycle Therapeutics had a negative net margin of 884.51% and a negative return on equity of 36.05%. The business had revenue of $2.90 million for the quarter, compared to the consensus estimate of $9.43 million. Analysts anticipate that Bicycle Therapeutics PLC Sponsored ADR will post -3.06 EPS for the current year.

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.

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