Bicycle Therapeutics (NASDAQ:BCYC) Earns Market Outperform Rating from JMP Securities

JMP Securities reaffirmed their market outperform rating on shares of Bicycle Therapeutics (NASDAQ:BCYC) in a research report report published on Monday, Benzinga reports. JMP Securities currently has a $32.00 price target on the stock.

A number of other equities analysts have also weighed in on BCYC. Needham & Company LLC reiterated a buy rating and set a $38.00 price objective on shares of Bicycle Therapeutics in a research note on Monday. B. Riley cut Bicycle Therapeutics from a buy rating to a neutral rating and reduced their price target for the company from $33.00 to $28.00 in a research report on Wednesday, August 7th. Cantor Fitzgerald reaffirmed an overweight rating on shares of Bicycle Therapeutics in a report on Monday, September 9th. HC Wainwright reissued a buy rating and set a $55.00 price target on shares of Bicycle Therapeutics in a report on Monday. Finally, Oppenheimer restated an outperform rating and set a $48.00 price target on shares of Bicycle Therapeutics in a research report on Wednesday, August 7th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Bicycle Therapeutics has an average rating of Moderate Buy and a consensus target price of $44.56.

Bicycle Therapeutics Stock Down 0.2 %

Shares of BCYC stock opened at $24.36 on Monday. Bicycle Therapeutics has a fifty-two week low of $12.54 and a fifty-two week high of $28.20. The firm has a market capitalization of $1.04 billion, a PE ratio of -5.47 and a beta of 0.90. 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’s 50-day simple moving average is $23.31 and its 200-day simple moving average is $23.00.

Bicycle Therapeutics (NASDAQ:BCYC) last issued its quarterly earnings results 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. Bicycle Therapeutics had a negative net margin of 417.88% and a negative return on equity of 32.80%. The company had revenue of $9.36 million for the quarter, compared to the consensus estimate of $6.13 million. The company’s revenue for the quarter was down 17.9% on a year-over-year basis. Equities analysts expect that Bicycle Therapeutics will post -3.17 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Kevin Lee sold 3,194 shares of the firm’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $19.64, for a total value of $62,730.16. Following the transaction, the chief executive officer now owns 384,076 shares in the company, valued at $7,543,252.64. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last three months, insiders sold 4,555 shares of company stock worth $89,460. Corporate insiders own 8.50% of the company’s stock.

Institutional Investors Weigh In On Bicycle Therapeutics

A number of hedge funds have recently modified their holdings of the business. Baker BROS. Advisors LP boosted its position in Bicycle Therapeutics by 176.1% during the first quarter. Baker BROS. Advisors LP now owns 4,942,823 shares of the company’s stock worth $123,076,000 after acquiring an additional 3,152,433 shares during the last quarter. Westfield Capital Management Co. LP acquired a new position in shares of Bicycle Therapeutics during the 4th quarter worth approximately $16,585,000. Avoro Capital Advisors LLC purchased a new stake in shares of Bicycle Therapeutics in the second quarter valued at approximately $14,168,000. Perceptive Advisors LLC acquired a new stake in shares of Bicycle Therapeutics in the second quarter valued at approximately $11,577,000. Finally, Armistice Capital LLC lifted its position in Bicycle Therapeutics by 53.6% during the fourth quarter. Armistice Capital LLC now owns 1,536,000 shares of the company’s stock worth $27,771,000 after buying an additional 536,000 shares in the last quarter. 86.15% of the stock is currently owned by institutional investors and hedge funds.

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.