Bicycle Therapeutics (NASDAQ:BCYC) Given Buy Rating at HC Wainwright

HC Wainwright reissued their buy rating on shares of Bicycle Therapeutics (NASDAQ:BCYC) in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a $33.00 price target on the stock.

A number of other brokerages have also recently commented on BCYC. B. Riley lowered their target price on Bicycle Therapeutics from $28.00 to $17.00 and set a “neutral” rating on the stock in a report on Friday, December 13th. JMP Securities decreased their price objective on Bicycle Therapeutics from $32.00 to $26.00 and set a “market outperform” rating on the stock in a research note on Wednesday, December 18th. Royal Bank of Canada reiterated an “outperform” rating and set a $35.00 price objective on shares of Bicycle Therapeutics in a research report on Friday, November 1st. Stephens restated an “equal weight” rating and issued a $15.00 target price on shares of Bicycle Therapeutics in a report on Wednesday, January 22nd. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $32.00 price target on shares of Bicycle Therapeutics in a research note on Monday, January 13th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $29.14.

Bicycle Therapeutics Stock Up 2.0 %

Bicycle Therapeutics stock opened at $11.32 on Wednesday. The firm has a market capitalization of $781.65 million, a PE ratio of -3.44 and a beta of 0.93. Bicycle Therapeutics has a 52 week low of $10.91 and a 52 week high of $28.67. The firm’s 50-day simple moving average is $13.35 and its 200 day simple moving average is $19.46.

Bicycle Therapeutics (NASDAQ:BCYC) last announced its quarterly earnings results on Tuesday, February 25th. The company reported ($0.75) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.85) by $0.10. The company had revenue of $3.70 million for the quarter, compared to the consensus estimate of $5.47 million. Bicycle Therapeutics had a negative net margin of 450.64% and a negative return on equity of 27.35%. The company’s revenue for the quarter was down 30.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($1.16) earnings per share. On average, research analysts expect that Bicycle Therapeutics will post -3.06 EPS for the current fiscal year.

Insider Activity

In related news, CAO Travis Alvin Thompson sold 2,686 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $15.00, for a total value of $40,290.00. Following the completion of the sale, the chief accounting officer now directly owns 32,146 shares of the company’s stock, valued at $482,190. The trade was a 7.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Bros. Advisors Lp Baker bought 500,000 shares of Bicycle Therapeutics stock in a transaction on Monday, December 16th. The shares were purchased at an average cost of $15.34 per share, for a total transaction of $7,670,000.00. Following the acquisition, the director now owns 9,995,274 shares in the company, valued at $153,327,503.16. The trade was a 5.27 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders sold 27,677 shares of company stock worth $392,413. 8.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Bicycle Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the company. Assetmark Inc. bought a new position in Bicycle Therapeutics during the third quarter worth $34,000. Barclays PLC raised its holdings in shares of Bicycle Therapeutics by 878.3% during the fourth quarter. Barclays PLC now owns 2,612 shares of the company’s stock worth $37,000 after purchasing an additional 2,345 shares during the period. Avior Wealth Management LLC bought a new position in shares of Bicycle Therapeutics in the 4th quarter worth about $57,000. China Universal Asset Management Co. Ltd. boosted its holdings in shares of Bicycle Therapeutics by 69.1% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 7,138 shares of the company’s stock valued at $162,000 after buying an additional 2,918 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Bicycle Therapeutics by 26.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 8,424 shares of the company’s stock valued at $191,000 after buying an additional 1,782 shares during the period. 86.15% of the stock is 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.