Bicycle Therapeutics (NASDAQ:BCYC) Stock Rating Reaffirmed by HC Wainwright

Bicycle Therapeutics (NASDAQ:BCYC)‘s stock had its “buy” rating restated by equities research analysts at HC Wainwright in a note issued to investors on Monday, Benzinga reports. They presently have a $55.00 price target on the stock. HC Wainwright’s price target indicates a potential upside of 125.32% from the company’s current price.

BCYC has been the subject of a number of other reports. Cantor Fitzgerald reissued an “overweight” rating on shares of Bicycle Therapeutics in a research note on Monday, September 9th. Royal Bank of Canada initiated coverage on shares of Bicycle Therapeutics in a research report on Friday, September 6th. They set an “outperform” rating and a $35.00 price objective for the company. Oppenheimer reaffirmed an “outperform” rating and issued a $48.00 price objective on shares of Bicycle Therapeutics in a research report on Wednesday, August 7th. Needham & Company LLC reiterated a “buy” rating and set a $38.00 target price on shares of Bicycle Therapeutics in a report on Monday, September 9th. Finally, B. Riley lowered Bicycle Therapeutics from a “buy” rating to a “neutral” rating and cut their price target for the company from $33.00 to $28.00 in a report on Wednesday, August 7th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $44.56.

Bicycle Therapeutics Trading Down 2.2 %

BCYC opened at $24.41 on Monday. The firm’s fifty day moving average is $23.24 and its two-hundred day moving average is $22.99. The firm has a market cap of $1.16 billion, a PE ratio of -5.49 and a beta of 0.90. Bicycle Therapeutics has a twelve month low of $12.54 and a twelve month high of $28.20. The company has a debt-to-equity ratio of 0.01, a quick ratio of 14.77 and a current ratio of 14.77.

Bicycle Therapeutics (NASDAQ:BCYC) last posted its earnings results 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 return on equity of 32.80% and a negative net margin of 417.88%. The firm had revenue of $9.36 million for the quarter, compared to analyst estimates of $6.13 million. The firm’s quarterly revenue was down 17.9% on a year-over-year basis. Equities research analysts anticipate that Bicycle Therapeutics will post -3.17 EPS for the current year.

Insider Activity

In related news, CEO Kevin Lee sold 3,194 shares of Bicycle Therapeutics stock in a transaction dated 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 $7,543,252.64. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold 4,555 shares of company stock worth $89,460 in the last quarter. Corporate insiders own 8.50% of the company’s stock.

Hedge Funds Weigh In On Bicycle Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in BCYC. PNC Financial Services Group Inc. bought a new stake in Bicycle Therapeutics during the fourth quarter worth $137,000. China Universal Asset Management Co. Ltd. raised its holdings in shares of Bicycle Therapeutics by 71.4% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 6,859 shares of the company’s stock valued at $171,000 after purchasing an additional 2,858 shares during the period. XTX Topco Ltd acquired a new stake in Bicycle Therapeutics in the 2nd quarter valued at about $206,000. PDS Planning Inc bought a new position in Bicycle Therapeutics during the first quarter worth about $210,000. Finally, Natixis Advisors LLC acquired a new position in Bicycle Therapeutics during the second quarter worth approximately $261,000. 86.15% of the stock is 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.