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

HC Wainwright restated their buy rating on shares of Bicycle Therapeutics (NASDAQ:BCYC) in a research report report published on Thursday morning, Benzinga reports. The brokerage currently has a $55.00 price target on the stock.

Several other equities analysts have also weighed in on the company. Needham & Company LLC restated a “buy” rating and set a $38.00 target price on shares of Bicycle Therapeutics in a report on Monday, September 16th. B. Riley lowered Bicycle Therapeutics from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $33.00 to $28.00 in a report on Wednesday, August 7th. Oppenheimer reiterated an “outperform” rating and set a $48.00 price target on shares of Bicycle Therapeutics in a report on Wednesday, August 7th. Royal Bank of Canada began coverage on shares of Bicycle Therapeutics in a research report on Friday, September 6th. They issued an “outperform” rating and a $35.00 price target on the stock. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $32.00 price objective on shares of Bicycle Therapeutics in a report on Monday, September 16th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $44.56.

Bicycle Therapeutics Stock Down 2.2 %

Shares of Bicycle Therapeutics stock opened at $24.77 on Thursday. The stock has a 50-day simple moving average of $24.02 and a 200-day simple moving average of $23.05. Bicycle Therapeutics has a 52-week low of $12.54 and a 52-week high of $28.67. The firm has a market cap of $1.06 billion, a price-to-earnings ratio of -5.57 and a beta of 0.89. The company has a debt-to-equity ratio of 0.01, a current ratio of 14.77 and a quick ratio of 14.77.

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

Insider Activity at Bicycle Therapeutics

In other Bicycle Therapeutics news, CEO Kevin Lee sold 3,212 shares of the firm’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $22.26, for a total value of $71,499.12. Following the sale, the chief executive officer now directly owns 380,864 shares in the company, valued at $8,478,032.64. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders sold a total of 4,584 shares of company stock worth $102,040 in the last ninety days. 8.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Bicycle Therapeutics

Several large investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its position in shares of Bicycle Therapeutics by 105.1% during the third quarter. GAMMA Investing LLC now owns 2,026 shares of the company’s stock valued at $46,000 after purchasing an additional 1,038 shares during the period. PNC Financial Services Group Inc. acquired a new stake in Bicycle Therapeutics during the fourth quarter worth $137,000. China Universal Asset Management Co. Ltd. increased its holdings in 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. XTX Topco Ltd bought a new stake in Bicycle Therapeutics in the 2nd quarter valued at $206,000. Finally, PDS Planning Inc acquired a new position in shares of Bicycle Therapeutics in the 1st quarter valued at $210,000. Institutional investors and hedge funds own 86.15% of the company’s stock.

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.