Bicycle Therapeutics (NASDAQ:BCYC) Earns “Buy” Rating from Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Bicycle Therapeutics (NASDAQ:BCYC) in a research report released on Monday,Benzinga reports. They currently have a $32.00 price target on the stock.

BCYC has been the subject of several other reports. HC Wainwright dropped their price target on Bicycle Therapeutics from $55.00 to $33.00 and set a “buy” rating for the company in a research note on Monday, December 16th. JMP Securities decreased their price objective on Bicycle Therapeutics from $32.00 to $26.00 and set a “market outperform” rating on the stock in a report on Wednesday, December 18th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $35.00 price objective on shares of Bicycle Therapeutics in a report on Friday, November 1st. B. Riley decreased their price objective on Bicycle Therapeutics from $28.00 to $17.00 and set a “neutral” rating on the stock in a report on Friday, December 13th. Finally, Stephens began coverage on Bicycle Therapeutics in a report on Friday, November 8th. They set an “equal weight” rating and a $25.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $34.50.

Bicycle Therapeutics Price Performance

BCYC stock opened at $15.16 on Monday. Bicycle Therapeutics has a 1-year low of $12.17 and a 1-year high of $28.67. The company has a market capitalization of $1.05 billion, a price-to-earnings ratio of -4.61 and a beta of 0.92. The business has a 50 day simple moving average of $18.52 and a two-hundred day simple moving average of $21.69.

Bicycle Therapeutics (NASDAQ:BCYC) last posted its quarterly earnings results on Thursday, October 31st. The company reported ($0.74) earnings per share for the quarter, topping the consensus estimate of ($0.78) by $0.04. Bicycle Therapeutics had a negative return on equity of 27.35% and a negative net margin of 450.64%. The business had revenue of $2.68 million during the quarter, compared to the consensus estimate of $6.82 million. During the same period in the prior year, the company posted ($1.26) EPS. The firm’s revenue for the quarter was down 50.0% compared to the same quarter last year. Sell-side analysts anticipate that Bicycle Therapeutics will post -3.05 EPS for the current fiscal year.

Insider Activity at Bicycle Therapeutics

In related news, CAO Travis Alvin Thompson sold 6,256 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $25.11, for a total transaction of $157,088.16. Following the sale, the chief accounting officer now owns 19,241 shares in the company, valued at approximately $483,141.51. This represents a 24.54 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Kevin Lee sold 9,038 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $14.09, for a total value of $127,345.42. Following the sale, the chief executive officer now owns 495,026 shares in the company, valued at $6,974,916.34. The trade was a 1.79 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 33,933 shares of company stock worth $549,501. Company insiders own 8.50% of the company’s stock.

Institutional Trading of Bicycle Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Assetmark Inc. purchased a new stake in Bicycle Therapeutics in the third quarter worth $34,000. GAMMA Investing LLC increased its stake in Bicycle Therapeutics by 105.1% in the third quarter. GAMMA Investing LLC now owns 2,026 shares of the company’s stock worth $46,000 after purchasing an additional 1,038 shares during the period. China Universal Asset Management Co. Ltd. grew its position in shares of Bicycle Therapeutics by 69.1% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 7,138 shares of the company’s stock worth $162,000 after buying an additional 2,918 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Bicycle Therapeutics by 26.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 8,424 shares of the company’s stock worth $191,000 after buying an additional 1,782 shares in the last quarter. Finally, XTX Topco Ltd bought a new position in shares of Bicycle Therapeutics during the 2nd quarter worth $206,000. Hedge funds and other institutional investors own 86.15% of the company’s stock.

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.