Bicycle Therapeutics (NASDAQ:BCYC) Receives Overweight Rating from Cantor Fitzgerald

Cantor Fitzgerald reissued their overweight rating on shares of Bicycle Therapeutics (NASDAQ:BCYC) in a research report released on Monday morning, Benzinga reports.

Other analysts have also recently issued research reports about the stock. B. Riley cut shares of Bicycle Therapeutics from a buy rating to a neutral rating and dropped their price objective for the stock from $33.00 to $28.00 in a report on Wednesday, August 7th. Needham & Company LLC restated a buy rating and issued a $38.00 price target on shares of Bicycle Therapeutics in a research note on Wednesday, August 7th. Royal Bank of Canada assumed coverage on Bicycle Therapeutics in a research report on Friday. They set an outperform rating and a $35.00 price objective for the company. HC Wainwright restated a buy rating and issued a $55.00 target price on shares of Bicycle Therapeutics in a research report on Wednesday, August 7th. Finally, Oppenheimer reaffirmed an outperform rating and set a $48.00 target price on shares of Bicycle Therapeutics in a research note on Wednesday, August 7th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $44.56.

Bicycle Therapeutics Stock Performance

Shares of NASDAQ BCYC opened at $26.36 on Monday. The stock has a market capitalization of $1.25 billion, a P/E ratio of -5.92 and a beta of 0.90. The firm’s 50-day moving average price is $22.48 and its two-hundred day moving average price is $22.96. Bicycle Therapeutics has a 52-week low of $12.54 and a 52-week high of $27.24. The company has a quick ratio of 14.77, a current ratio of 14.77 and a debt-to-equity ratio of 0.01.

Bicycle Therapeutics (NASDAQ:BCYC) last released its quarterly earnings data on Tuesday, August 6th. The company reported ($0.77) earnings per share (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 business had revenue of $9.36 million during the quarter, compared to analyst estimates of $6.13 million. The business’s quarterly revenue was down 17.9% compared to the same quarter last year. As a group, sell-side 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 news, CEO Kevin Lee sold 3,194 shares of the business’s stock in a transaction 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 sale, the chief executive officer now owns 384,076 shares of the company’s stock, valued at approximately $7,543,252.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last ninety days, insiders sold 4,555 shares of company stock valued at $89,460. 8.50% of the stock is owned by corporate insiders.

Institutional Trading of Bicycle Therapeutics

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