Bicycle Therapeutics’ (BCYC) Buy Rating Reaffirmed at Needham & Company LLC

Bicycle Therapeutics (NASDAQ:BCYC)‘s stock had its “buy” rating restated by research analysts at Needham & Company LLC in a research report issued to clients and investors on Wednesday,Benzinga reports. They currently have a $30.00 target price on the stock. Needham & Company LLC’s price target points to a potential upside of 171.99% from the company’s previous close.

A number of other research firms have also issued reports on BCYC. B. Riley lowered their target price on shares of Bicycle Therapeutics from $28.00 to $17.00 and set a “neutral” rating on the stock in a research note on Friday, December 13th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $35.00 price target on shares of Bicycle Therapeutics in a research report on Friday, November 1st. Stephens reissued an “equal weight” rating and set a $15.00 price objective on shares of Bicycle Therapeutics in a research report on Wednesday, January 22nd. JMP Securities lowered their target price 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. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $33.00 price target on shares of Bicycle Therapeutics in a research report on Wednesday. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.14.

Bicycle Therapeutics Price Performance

NASDAQ BCYC opened at $11.03 on Wednesday. Bicycle Therapeutics has a fifty-two week low of $10.91 and a fifty-two week high of $28.67. The stock’s 50-day moving average is $13.35 and its two-hundred day moving average is $19.46. The firm has a market cap of $761.62 million, a P/E ratio of -3.35 and a beta of 0.93.

Bicycle Therapeutics (NASDAQ:BCYC) last issued its quarterly earnings data on Tuesday, February 25th. The company reported ($0.75) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.85) by $0.10. The business had revenue of $3.70 million for the quarter, compared to the consensus estimate of $5.47 million. Bicycle Therapeutics had a negative return on equity of 27.35% and a negative net margin of 450.64%. The firm’s revenue was down 30.2% compared to the same quarter last year. During the same period last year, the business earned ($1.16) EPS. On average, equities analysts expect that Bicycle Therapeutics will post -3.06 EPS for the current year.

Insider Activity at Bicycle Therapeutics

In related news, insider Santiago Arroyo sold 4,943 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $14.09, for a total transaction of $69,646.87. Following the sale, the insider now owns 69,057 shares of the company’s stock, valued at approximately $973,013.13. This represents a 6.68 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Bros. Advisors Lp Baker bought 985,397 shares of Bicycle Therapeutics stock in a transaction on Friday, December 13th. The shares were bought at an average cost of $13.76 per share, with a total value of $13,559,062.72. Following the acquisition, the director now directly owns 9,537,643 shares in the company, valued at approximately $131,237,967.68. This represents a 11.52 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 27,677 shares of company stock worth $392,413 over the last three months. Company insiders own 8.50% of the company’s stock.

Hedge Funds Weigh In On Bicycle Therapeutics

A number of large investors have recently modified their holdings of the company. Point72 Asset Management L.P. increased its holdings in Bicycle Therapeutics by 406.2% during the 4th quarter. Point72 Asset Management L.P. now owns 4,554,900 shares of the company’s stock worth $63,769,000 after acquiring an additional 3,655,101 shares during the period. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Bicycle Therapeutics by 43.3% in the fourth quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 80,236 shares of the company’s stock worth $1,123,000 after purchasing an additional 24,260 shares during the period. Millennium Management LLC purchased a new stake in shares of Bicycle Therapeutics in the fourth quarter worth $2,475,000. Fcpm Iii Services B.V. raised its position in shares of Bicycle Therapeutics by 47.5% in the fourth quarter. Fcpm Iii Services B.V. now owns 3,452,330 shares of the company’s stock worth $48,333,000 after buying an additional 1,112,369 shares in the last quarter. Finally, Caption Management LLC bought a new stake in Bicycle Therapeutics during the fourth quarter valued at $2,283,000. 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.