Bicycle Therapeutics’ (BCYC) “Buy” Rating Reiterated at HC Wainwright

Bicycle Therapeutics (NASDAQ:BCYC)‘s stock had its “buy” rating reiterated by analysts at HC Wainwright in a research report issued on Monday,Benzinga reports. They currently have a $33.00 price target on the stock. HC Wainwright’s price objective points to a potential upside of 122.82% from the stock’s current price.

Other equities research analysts have also issued research reports about the company. JMP Securities dropped their target price on Bicycle Therapeutics from $32.00 to $26.00 and set a “market outperform” rating on the stock in a research report on Wednesday, December 18th. B. Riley cut their price objective 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. Needham & Company LLC restated a “buy” rating and set a $32.00 target price on shares of Bicycle Therapeutics in a research report on Monday. Stephens started coverage on Bicycle Therapeutics in a report on Friday, November 8th. They issued an “equal weight” rating and a $25.00 price objective for the company. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $35.00 target price on shares of Bicycle Therapeutics in a report on Friday, November 1st. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.50.

Bicycle Therapeutics Trading Down 2.3 %

Shares of Bicycle Therapeutics stock opened at $14.81 on Monday. The firm’s 50 day simple moving average is $18.18 and its two-hundred day simple moving average is $21.61. The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of -4.50 and a beta of 0.92. Bicycle Therapeutics has a 12-month low of $12.17 and a 12-month high of $28.67.

Bicycle Therapeutics (NASDAQ:BCYC) last issued its quarterly earnings results on Thursday, October 31st. The company reported ($0.74) EPS for the quarter, topping analysts’ consensus estimates of ($0.78) by $0.04. The company had revenue of $2.68 million during the quarter, compared to analysts’ expectations of $6.82 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 50.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($1.26) EPS. On average, sell-side analysts predict that Bicycle Therapeutics will post -3.05 EPS for the current fiscal year.

Insider Buying and Selling at Bicycle Therapeutics

In other news, CAO Travis Alvin Thompson sold 2,686 shares of Bicycle Therapeutics stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $15.00, for a total value of $40,290.00. Following the sale, the chief accounting officer now owns 32,146 shares in the company, valued at $482,190. This trade represents a 7.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Bros. Advisors Lp Baker purchased 985,397 shares of Bicycle Therapeutics stock in a transaction that occurred on Friday, December 13th. The shares were bought at an average price of $13.76 per share, with a total value of $13,559,062.72. Following the transaction, the director now owns 9,537,643 shares in the company, valued at approximately $131,237,967.68. The trade was a 11.52 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 33,933 shares of company stock valued at $549,501. Company insiders own 8.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BCYC. Point72 Asset Management L.P. raised its position in shares of Bicycle Therapeutics by 1,438.1% in the third quarter. Point72 Asset Management L.P. now owns 899,799 shares of the company’s stock valued at $20,362,000 after buying an additional 841,299 shares during the last quarter. Avoro Capital Advisors LLC purchased a new stake in Bicycle Therapeutics during the 2nd quarter valued at about $14,168,000. Perceptive Advisors LLC purchased a new stake in Bicycle Therapeutics during the 2nd quarter valued at about $11,577,000. Principal Financial Group Inc. acquired a new stake in Bicycle Therapeutics in the 3rd quarter valued at about $10,028,000. Finally, Westfield Capital Management Co. LP lifted its stake in Bicycle Therapeutics by 21.5% in the 3rd quarter. Westfield Capital Management Co. LP now owns 1,850,945 shares of the company’s stock worth $41,887,000 after purchasing an additional 327,089 shares in the last quarter. Hedge funds and other institutional investors own 86.15% of the company’s stock.

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.