Logos Global Management LP recently announced the acquisition of new stake in Bicycle Therapeutics plc (NASDAQ:BCYC). The institutional investor has increased its shareholding in the Healthcare company by 17.65% to 2.0 million shares with purchase of 0.3 million shares. This fresh investment now brings its stake to 6.74% valued currently at $59.2 million. In addition, Janus Henderson Investors US LLC raised its holdings by 0.31 million to 1.68 million shares. And Samlyn Capital LLC has lifted its position by 24.40% or 0.25 million shares – to 1.29 million shares.
With over 0.26 million Bicycle Therapeutics plc (BCYC) shares trading Friday and a closing price of $27.83 on the day, the dollar volume was approximately $7.22 million. The shares have shown a positive half year performance of 32.65% and its price on 01/13/23 lost nearly -2.01%. Currently, there are 29.68M common shares owned by the public and among those 26.61M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 15 analysts who have offered their price forecasts for BCYC have a consensus price objective of $53.64. The analysts have set the share’s price value over the next 12 months at a high of $74.00 and a low of $33.00. The average price target is 48.12% above its recent price level and an upside to the estimated low will see the stock gain 15.67% over that period. But an upside of 62.39% will see the stock hit the forecast high price target while median target price for the stock is $52.50.
The top 3 mutual fund holders in Bicycle Therapeutics plc are Eventide Healthcare & Life Scienc, Belfius Equities – Cure, and Janus Henderson Global Life Scien. Eventide Healthcare & Life Scienc owns 0.85 million shares of the company’s stock, all valued at over $25.27 million. Janus Henderson Global Life Scien bought 21782.0 shares to bring its total holdings to over 0.49 million shares at a value of $14.4 million. Janus Henderson Global Life Scien now owns shares totaling to 1.64% of the shares outstanding.
Shares of Bicycle Therapeutics plc (NASDAQ: BCYC) opened at $28.14, down -$0.26 from a prior closing price of $28.40. However, the script later moved the day high at 28.92, down -2.01%. The company’s stock has a 5-day price change of -11.28% and 31.21% over the past three months. BCYC shares are trading -5.98% year to date (YTD), with the 12-month market performance down to -45.18% lower. It has a 12-month low price of $12.08 and touched a high of $51.93 over the same period. BCYC has an average intraday trading volume of 233.85K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -7.36%, -3.79%, and 13.84% respectively.
Institutional ownership of Bicycle Therapeutics plc (NASDAQ: BCYC) shares accounts for 93.50% of the company’s 29.68M shares outstanding. Mutual fund holders own 17.21%, while other institutional holders and individual stakeholders account for 65.00% and — respectively.
It has a market capitalization of $843.25M and a beta (3y monthly) value of 0.77. The earnings-per-share (ttm) stands at -$3.41. Price movements for the stock have been influenced by the stock’s volatility, which stands at 8.00% over the week and 6.63% over the month.
Analysts forecast that Bicycle Therapeutics plc (BCYC) will achieve an EPS of -$0.89 for the current quarter, -$1.01 for the next quarter and -$4.25 for 2023. The lowest estimate earnings-per-share for the quarter is -$1.15 while analysts give the company a high EPS estimate of -$0.44. Comparatively, EPS for the current quarter was -$0.59 a year ago. Earnings per share for the fiscal year are expected to decrease by -0.10%, and -15.90% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 15 brokerage firm advisors rate Bicycle Therapeutics plc (BCYC) as a “Strong Buy” at a consensus score of 1.90. Specifically, 12 Wall Street analysts polled rate the stock as a buy, while 2 of the 15 advise that investors “hold,” and 0 rated it as a “Sell.”
Barclays coverage for the Bicycle Therapeutics plc (BCYC) stock in a research note released on July 28, 2022 offered a Overweight rating with a price target of $30. Canaccord Genuity was of a view on July 06, 2022 that the stock is Buy, while B. Riley Securities gave the stock Neutral rating on April 13, 2022, issuing a price target of $62- $33. Cantor Fitzgerald on their part issued Overweight rating on April 07, 2022.
