Bicycle Therapeutics’ (BCYC) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Bicycle Therapeutics (NASDAQ:BCYC) in a report issued on Monday morning, Benzinga reports. The brokerage currently has a $38.00 price target on the stock.

BCYC has been the subject of a number of other research reports. HC Wainwright reiterated a buy rating and set a $55.00 price objective on shares of Bicycle Therapeutics in a research report on Monday. Cantor Fitzgerald reiterated an overweight rating on shares of Bicycle Therapeutics in a report on Monday, September 9th. B. Riley downgraded shares of Bicycle Therapeutics from a buy rating to a neutral rating and reduced their price objective for the company from $33.00 to $28.00 in a research note on Wednesday, August 7th. Royal Bank of Canada assumed coverage on shares of Bicycle Therapeutics in a research report on Friday, September 6th. They set an outperform rating and a $35.00 target price on the stock. Finally, Oppenheimer reiterated an outperform rating and issued a $48.00 price target on shares of Bicycle Therapeutics in a report on Wednesday, August 7th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Bicycle Therapeutics has an average rating of Moderate Buy and a consensus price target of $44.56.

Bicycle Therapeutics Trading Down 0.2 %

Shares of BCYC opened at $24.36 on Monday. 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 has a 1-year low of $12.54 and a 1-year high of $28.20. The stock has a market cap of $1.04 billion, a price-to-earnings ratio of -5.47 and a beta of 0.90. The firm has a 50 day simple moving average of $23.31 and a 200-day simple moving average of $23.00.

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

Insider Buying and Selling

In other Bicycle Therapeutics news, CEO Kevin Lee sold 3,194 shares of Bicycle Therapeutics stock in a transaction on Wednesday, July 3rd. The shares were 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 approximately $7,543,252.64. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last quarter, insiders sold 4,555 shares of company stock valued at $89,460. Insiders own 8.50% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in BCYC. Baker BROS. Advisors LP grew 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 valued at $123,076,000 after acquiring an additional 3,152,433 shares during the period. Westfield Capital Management Co. LP purchased a new position in shares of Bicycle Therapeutics in the 4th quarter worth about $16,585,000. Avoro Capital Advisors LLC acquired a new position in shares of Bicycle Therapeutics in the 2nd quarter valued at about $14,168,000. Perceptive Advisors LLC purchased a new stake in shares of Bicycle Therapeutics during the 2nd quarter worth about $11,577,000. Finally, Armistice Capital LLC increased its position in Bicycle Therapeutics by 53.6% during the 4th quarter. Armistice Capital LLC now owns 1,536,000 shares of the company’s stock worth $27,771,000 after purchasing an additional 536,000 shares in the last quarter. 86.15% of the stock is owned by hedge funds and other institutional investors.

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.