Bicycle Therapeutics (NASDAQ:BCYC) Now Covered by Royal Bank of Canada

Royal Bank of Canada initiated coverage on shares of Bicycle Therapeutics (NASDAQ:BCYC) in a research note published on Friday morning, Marketbeat.com reports. The firm issued an outperform rating and a $35.00 price target on the stock.

Several other equities research analysts have also issued reports on BCYC. Needham & Company LLC reissued a buy rating and issued a $38.00 price target on shares of Bicycle Therapeutics in a report on Wednesday, August 7th. Oppenheimer reissued an outperform rating and issued a $48.00 target price on shares of Bicycle Therapeutics in a research note on Wednesday, August 7th. B. Riley cut shares of Bicycle Therapeutics from a buy rating to a neutral rating and cut their price target for the stock from $33.00 to $28.00 in a research note on Wednesday, August 7th. Finally, HC Wainwright reiterated a buy rating and issued a $55.00 price objective on shares of Bicycle Therapeutics in a research note on Wednesday, August 7th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $44.56.

Bicycle Therapeutics Stock Up 28.3 %

NASDAQ BCYC opened at $26.36 on Friday. Bicycle Therapeutics has a twelve month low of $12.54 and a twelve month high of $27.24. The company has a debt-to-equity ratio of 0.01, a quick ratio of 14.77 and a current ratio of 14.77. The stock has a market cap of $1.25 billion, a PE ratio of -5.92 and a beta of 0.90. The firm has a 50-day simple moving average of $22.48 and a 200 day simple moving average of $22.96.

Bicycle Therapeutics (NASDAQ:BCYC) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.77) earnings per share for the quarter, topping the consensus estimate of ($1.10) by $0.33. The company had revenue of $9.36 million for the quarter, compared to analyst estimates of $6.13 million. Bicycle Therapeutics had a negative return on equity of 32.80% and a negative net margin of 417.88%. The company’s revenue was down 17.9% compared to the same quarter last year. On average, research analysts forecast that Bicycle Therapeutics will post -3.17 EPS for the current year.

Insider Transactions at Bicycle Therapeutics

In related news, CEO Kevin Lee sold 3,194 shares of the firm’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $19.64, for a total transaction of $62,730.16. Following the completion of the sale, the chief executive officer now directly owns 384,076 shares of the company’s stock, valued at approximately $7,543,252.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 4,555 shares of company stock valued at $89,460 in the last three months. 8.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Bicycle Therapeutics

Hedge funds have recently added to or reduced their stakes in the stock. China Universal Asset Management Co. Ltd. raised its stake in shares of Bicycle Therapeutics by 71.4% in the first quarter. China Universal Asset Management Co. Ltd. now owns 6,859 shares of the company’s stock worth $171,000 after acquiring an additional 2,858 shares during the last quarter. Woodstock Corp boosted its stake in shares of Bicycle Therapeutics by 16.3% in the 1st quarter. Woodstock Corp now owns 24,981 shares of the company’s stock valued at $622,000 after purchasing an additional 3,502 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in shares of Bicycle Therapeutics by 0.6% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 888,081 shares of the company’s stock worth $17,975,000 after buying an additional 4,976 shares during the period. PNC Financial Services Group Inc. acquired a new position in Bicycle Therapeutics in the fourth quarter valued at approximately $137,000. Finally, L & S Advisors Inc boosted its stake in Bicycle Therapeutics by 16.1% in the second quarter. L & S Advisors Inc now owns 58,335 shares of the company’s stock valued at $1,181,000 after acquiring an additional 8,075 shares during the last quarter. Institutional investors own 86.15% of the company’s stock.

About Bicycle Therapeutics

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.