HC Wainwright Reaffirms “Buy” Rating for Bicycle Therapeutics (NASDAQ:BCYC)

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

A number of other research firms also recently issued reports on BCYC. JMP Securities restated a “market outperform” rating and set a $32.00 price target on shares of Bicycle Therapeutics in a research note on Monday, September 16th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Bicycle Therapeutics in a report on Monday, September 9th. B. Riley cut shares of Bicycle Therapeutics from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $33.00 to $28.00 in a research note on Wednesday, August 7th. Royal Bank of Canada began coverage on shares of Bicycle Therapeutics in a research note on Friday, September 6th. They issued an “outperform” rating and a $35.00 price objective on the stock. Finally, 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 16th. Two research 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 presently has a consensus rating of “Moderate Buy” and a consensus target price of $44.56.

Bicycle Therapeutics Stock Down 0.2 %

NASDAQ:BCYC opened at $24.73 on Thursday. The stock’s fifty day moving average is $24.06 and its two-hundred day moving average is $23.07. Bicycle Therapeutics has a 52 week low of $12.54 and a 52 week high of $28.67. 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 $1.06 billion, a price-to-earnings ratio of -5.56 and a beta of 0.89.

Bicycle Therapeutics (NASDAQ:BCYC) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.77) EPS for the quarter, topping 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 the consensus estimate of $6.13 million. The firm’s quarterly revenue was down 17.9% on a year-over-year basis. Research analysts anticipate that Bicycle Therapeutics will post -3.17 EPS for the current year.

Insider Buying and Selling

In other news, CEO Kevin Lee sold 3,212 shares of the firm’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $22.26, for a total value of $71,499.12. Following the completion of the transaction, the chief executive officer now owns 380,864 shares in the company, valued at $8,478,032.64. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Over the last ninety days, insiders sold 4,584 shares of company stock valued at $102,040. 8.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. GAMMA Investing LLC lifted its position in Bicycle Therapeutics by 105.1% during the third quarter. GAMMA Investing LLC now owns 2,026 shares of the company’s stock worth $46,000 after buying an additional 1,038 shares during the period. PNC Financial Services Group Inc. purchased a new position in shares of Bicycle Therapeutics in the 4th quarter worth $137,000. China Universal Asset Management Co. Ltd. boosted its holdings in Bicycle Therapeutics by 69.1% in the third 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. XTX Topco Ltd purchased a new stake in Bicycle Therapeutics during the second quarter valued at about $206,000. Finally, PDS Planning Inc acquired a new stake in Bicycle Therapeutics during the first quarter worth about $210,000. 86.15% of the stock is owned by hedge funds and other 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.