Bicycle Therapeutics (NASDAQ:BCYC) Stock Rating Reaffirmed by JMP Securities

Bicycle Therapeutics (NASDAQ:BCYC)‘s stock had its “market outperform” rating reissued by equities research analysts at JMP Securities in a note issued to investors on Monday, Benzinga reports. They currently have a $32.00 target price on the stock. JMP Securities’ target price would indicate a potential upside of 31.09% from the company’s current price.

BCYC has been the topic of a number of other research reports. HC Wainwright restated a “buy” rating and set a $55.00 target price on shares of Bicycle Therapeutics in a research note on Monday. B. Riley cut shares of Bicycle Therapeutics from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $33.00 to $28.00 in a research note on Wednesday, August 7th. Needham & Company LLC restated a “buy” rating and set a $38.00 target price on shares of Bicycle Therapeutics in a research note on Monday. Oppenheimer restated an “outperform” rating and set a $48.00 target price on shares of Bicycle Therapeutics in a research note on Wednesday, August 7th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Bicycle Therapeutics in a research note on Monday, September 9th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $44.56.

Bicycle Therapeutics Price Performance

Shares of NASDAQ:BCYC opened at $24.41 on Monday. The firm’s 50 day moving average price is $23.24 and its 200-day moving average price is $22.99. Bicycle Therapeutics has a twelve month low of $12.54 and a twelve month 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 stock has a market capitalization of $1.16 billion, a PE ratio of -5.49 and a beta of 0.90.

Bicycle Therapeutics (NASDAQ:BCYC) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.77) earnings per share for the quarter, topping the consensus estimate of ($1.10) by $0.33. Bicycle Therapeutics had a negative net margin of 417.88% and a negative return on equity of 32.80%. The firm had revenue of $9.36 million for the quarter, compared to analysts’ expectations of $6.13 million. The company’s revenue for the quarter was down 17.9% compared to the same quarter last year. Equities research analysts expect 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 3,194 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 transaction of $62,730.16. Following the completion of the transaction, the chief executive officer now directly owns 384,076 shares of the company’s stock, valued at $7,543,252.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Over 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

Institutional investors and hedge funds have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD lifted its position in shares of Bicycle Therapeutics by 45.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 401,646 shares of the company’s stock worth $10,001,000 after purchasing an additional 124,809 shares during the last quarter. Trexquant Investment LP lifted its position in shares of Bicycle Therapeutics by 177.6% during the fourth quarter. Trexquant Investment LP now owns 196,323 shares of the company’s stock worth $3,550,000 after purchasing an additional 125,604 shares during the last quarter. Parkman Healthcare Partners LLC raised its holdings in shares of Bicycle Therapeutics by 155.0% in the fourth quarter. Parkman Healthcare Partners LLC now owns 312,889 shares of the company’s stock valued at $5,657,000 after acquiring an additional 190,168 shares in the last quarter. Westfield Capital Management Co. LP raised its holdings in shares of Bicycle Therapeutics by 13.3% in the first quarter. Westfield Capital Management Co. LP now owns 1,038,917 shares of the company’s stock valued at $25,869,000 after acquiring an additional 121,613 shares in the last quarter. Finally, TD Asset Management Inc raised its holdings in shares of Bicycle Therapeutics by 76.7% in the second quarter. TD Asset Management Inc now owns 97,186 shares of the company’s stock valued at $1,967,000 after acquiring an additional 42,200 shares in the last quarter. 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.