Bicycle Therapeutics (NASDAQ:BCYC) Earns Buy Rating from HC Wainwright

Bicycle Therapeutics (NASDAQ:BCYC)‘s stock had its “buy” rating reissued by equities research analysts at HC Wainwright in a report released on Friday, Benzinga reports. They presently have a $55.00 price objective on the stock. HC Wainwright’s target price would suggest a potential upside of 134.59% from the stock’s previous close.

A number of other brokerages have also recently weighed in on BCYC. Oppenheimer reiterated an “outperform” rating and set a $48.00 price target on shares of Bicycle Therapeutics in a research report on Wednesday, August 7th. JMP Securities reaffirmed a “market outperform” rating and issued a $32.00 target price on shares of Bicycle Therapeutics in a research report on Monday, September 16th. Cantor Fitzgerald reissued an “overweight” rating on shares of Bicycle Therapeutics in a report on Monday, September 9th. Royal Bank of Canada started coverage on shares of Bicycle Therapeutics in a report on Friday, September 6th. They issued an “outperform” rating and a $35.00 price objective on the stock. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $38.00 price objective on shares of Bicycle Therapeutics in a research report on Thursday. Two 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 stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $44.56.

Bicycle Therapeutics Stock Down 2.4 %

Shares of NASDAQ:BCYC opened at $23.45 on Friday. The company’s fifty day moving average is $24.16 and its two-hundred day moving average is $23.10. The company has a debt-to-equity ratio of 0.01, a quick ratio of 14.77 and a current ratio of 14.77. Bicycle Therapeutics has a 1-year low of $12.54 and a 1-year high of $28.67. The stock has a market capitalization of $1.11 billion, a price-to-earnings ratio of -6.15 and a beta of 0.89.

Bicycle Therapeutics (NASDAQ:BCYC) last announced its quarterly earnings data on Thursday, October 31st. The company reported ($0.74) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.80) by $0.06. Bicycle Therapeutics had a negative net margin of 417.88% and a negative return on equity of 32.80%. The business had revenue of $2.68 million during the quarter, compared to the consensus estimate of $6.82 million. During the same quarter in the prior year, the firm earned ($1.26) EPS. The company’s revenue for the quarter was down 50.0% compared to the same quarter last year. Equities analysts anticipate that Bicycle Therapeutics will post -3.17 EPS for the current 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 dated Thursday, October 3rd. The shares were sold at an average price of $22.26, for a total transaction of $71,499.12. Following the transaction, the chief executive officer now owns 380,864 shares of the company’s stock, valued at approximately $8,478,032.64. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 4,584 shares of company stock worth $102,040 in the last 90 days. Corporate insiders own 8.50% of the company’s stock.

Hedge Funds Weigh In On Bicycle Therapeutics

Hedge funds have recently modified their holdings of the company. GAMMA Investing LLC boosted its stake in 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 buying an additional 1,038 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted 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 acquiring an additional 2,918 shares during the last quarter. PNC Financial Services Group Inc. acquired a new stake in Bicycle Therapeutics in the 4th quarter valued at about $137,000. PDS Planning Inc bought a new position in shares of Bicycle Therapeutics during the 1st quarter valued at about $210,000. Finally, XTX Topco Ltd acquired a new position in shares of Bicycle Therapeutics in the 2nd quarter worth approximately $206,000. 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.