Bicycle Therapeutics (NASDAQ:BCYC) Stock Rating Reaffirmed by HC Wainwright

HC Wainwright reissued their buy rating on shares of Bicycle Therapeutics (NASDAQ:BCYC) in a research report sent to investors on Monday morning, Benzinga reports. The brokerage currently has a $55.00 price objective on the stock.

BCYC has been the subject of several other research reports. Needham & Company LLC reaffirmed a buy rating and set a $38.00 price objective on shares of Bicycle Therapeutics in a research 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 stock from $33.00 to $28.00 in a research report on Wednesday, August 7th. Royal Bank of Canada initiated 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 for the company. Cantor Fitzgerald reissued an overweight rating on shares of Bicycle Therapeutics in a research report on Monday, September 9th. Finally, Oppenheimer reissued an outperform rating and issued a $48.00 price target on shares of Bicycle Therapeutics in a research report on Wednesday, August 7th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $44.56.

Bicycle Therapeutics Stock Performance

Shares of BCYC stock opened at $25.50 on Monday. The company has a market cap of $1.09 billion, a price-to-earnings ratio of -5.73 and a beta of 0.90. Bicycle Therapeutics has a 52 week low of $12.54 and a 52 week high of $28.20. The company has a quick ratio of 14.77, a current ratio of 14.77 and a debt-to-equity ratio of 0.01. The firm has a 50 day moving average of $23.37 and a 200-day moving average of $23.02.

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

Insider Buying and Selling at Bicycle Therapeutics

In other Bicycle Therapeutics 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 transaction, the chief executive officer now directly 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 is available through this hyperlink. In the last three months, insiders have sold 4,555 shares of company stock worth $89,460. Corporate insiders own 8.50% of the company’s stock.

Hedge Funds Weigh In On Bicycle Therapeutics

Several large investors have recently bought and sold shares of BCYC. PNC Financial Services Group Inc. bought a new position in Bicycle Therapeutics during the 4th quarter valued at $137,000. China Universal Asset Management Co. Ltd. lifted its stake in Bicycle Therapeutics by 71.4% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 6,859 shares of the company’s stock valued at $171,000 after acquiring an additional 2,858 shares in the last quarter. XTX Topco Ltd bought a new position in Bicycle Therapeutics during the 2nd quarter valued at $206,000. PDS Planning Inc bought a new stake in shares of Bicycle Therapeutics during the 1st quarter worth $210,000. Finally, Natixis Advisors LLC bought a new stake in shares of Bicycle Therapeutics during the 2nd quarter worth $261,000. 86.15% of the stock is currently owned by institutional investors.

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.