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

Bicycle Therapeutics (NASDAQ:BCYC)‘s stock had its “buy” rating reiterated by research analysts at HC Wainwright in a report released on Monday,Benzinga reports. They presently have a $33.00 target price on the stock. HC Wainwright’s target price indicates a potential upside of 124.80% from the stock’s previous close.

BCYC has been the topic of several other research reports. B. Riley cut their price target on Bicycle Therapeutics from $28.00 to $17.00 and set a “neutral” rating on the stock in a research note on Friday, December 13th. Stephens began coverage on shares of Bicycle Therapeutics in a report on Friday, November 8th. They issued an “equal weight” rating and a $25.00 price target on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $35.00 target price on shares of Bicycle Therapeutics in a research report on Friday, November 1st. JMP Securities reduced their price target on shares of Bicycle Therapeutics from $32.00 to $26.00 and set a “market outperform” rating on the stock in a research report on Wednesday, December 18th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $32.00 price objective on shares of Bicycle Therapeutics in a report on Monday. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Bicycle Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $34.50.

Bicycle Therapeutics Stock Performance

Shares of BCYC stock traded up $1.37 during trading hours on Monday, reaching $14.68. The company had a trading volume of 171,525 shares, compared to its average volume of 320,971. The company has a market capitalization of $1.01 billion, a P/E ratio of -4.46 and a beta of 0.92. Bicycle Therapeutics has a twelve month low of $12.17 and a twelve month high of $28.67. The stock’s fifty day simple moving average is $18.52 and its 200 day simple moving average is $21.69.

Bicycle Therapeutics (NASDAQ:BCYC) last issued its quarterly earnings data on Thursday, October 31st. The company reported ($0.74) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.78) by $0.04. Bicycle Therapeutics had a negative net margin of 450.64% and a negative return on equity of 27.35%. The company had revenue of $2.68 million during the quarter, compared to the consensus estimate of $6.82 million. During the same quarter last year, the company earned ($1.26) earnings per share. Bicycle Therapeutics’s revenue for the quarter was down 50.0% on a year-over-year basis. As a group, equities analysts expect that Bicycle Therapeutics will post -3.05 earnings per share for the current year.

Insider Buying and Selling

In other Bicycle Therapeutics news, CAO Travis Alvin Thompson sold 6,256 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $25.11, for a total transaction of $157,088.16. Following the sale, the chief accounting officer now directly owns 19,241 shares in the company, valued at approximately $483,141.51. The trade was a 24.54 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Santiago Arroyo sold 4,943 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $14.09, for a total transaction of $69,646.87. Following the transaction, the insider now owns 69,057 shares in the company, valued at $973,013.13. This represents a 6.68 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,933 shares of company stock valued at $549,501 in the last three months. 8.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. FMR LLC acquired a new position in shares of Bicycle Therapeutics in the 3rd quarter worth approximately $3,406,000. The Manufacturers Life Insurance Company grew its position in Bicycle Therapeutics by 33.2% in the third quarter. The Manufacturers Life Insurance Company now owns 129,705 shares of the company’s stock worth $2,935,000 after buying an additional 32,313 shares during the last quarter. Principal Financial Group Inc. bought a new position in shares of Bicycle Therapeutics in the third quarter valued at $10,028,000. State Street Corp lifted its position in shares of Bicycle Therapeutics by 233.5% during the 3rd quarter. State Street Corp now owns 86,271 shares of the company’s stock valued at $1,952,000 after acquiring an additional 60,399 shares during the last quarter. Finally, Perceptive Advisors LLC acquired a new stake in shares of Bicycle Therapeutics during the 2nd quarter valued at $11,577,000. 86.15% of the stock is 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.