Bicycle Therapeutics (NASDAQ:BCYC) Given “Buy” Rating at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Bicycle Therapeutics (NASDAQ:BCYC) in a research report released on Monday,Benzinga reports. The firm currently has a $33.00 target price on the stock.

A number of other brokerages have also recently weighed in on BCYC. Stephens initiated coverage on shares of Bicycle Therapeutics in a research note on Friday, November 8th. They issued an “equal weight” rating and a $25.00 price objective for the company. B. Riley cut their target price on shares of Bicycle Therapeutics from $28.00 to $17.00 and set a “neutral” rating for the company in a research report on Friday, December 13th. Royal Bank of Canada restated an “outperform” rating and set a $35.00 price target on shares of Bicycle Therapeutics in a report on Friday, November 1st. Needham & Company LLC reiterated a “buy” rating and issued a $32.00 price objective on shares of Bicycle Therapeutics in a research note on Monday. Finally, JMP Securities decreased their target price on Bicycle Therapeutics from $32.00 to $26.00 and set a “market outperform” rating for the company in a research note on Wednesday, December 18th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $34.50.

Bicycle Therapeutics Price Performance

NASDAQ BCYC opened at $14.55 on Monday. Bicycle Therapeutics has a fifty-two week low of $12.17 and a fifty-two week high of $28.67. The stock’s 50-day moving average is $17.99 and its two-hundred day moving average is $21.56. The firm has a market cap of $1.00 billion, a P/E ratio of -4.42 and a beta of 0.92.

Bicycle Therapeutics (NASDAQ:BCYC) last issued its quarterly earnings data on Thursday, October 31st. The company reported ($0.74) EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $6.82 million. During the same quarter in the prior year, the firm posted ($1.26) EPS. The firm’s revenue for the quarter was down 50.0% on a year-over-year basis. On average, equities analysts expect that Bicycle Therapeutics will post -3.05 EPS for the current year.

Insider Buying and Selling

In related news, CEO Kevin Lee sold 9,038 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $14.09, for a total value of $127,345.42. Following the completion of the transaction, the chief executive officer now directly owns 495,026 shares of the company’s stock, valued at $6,974,916.34. This trade represents a 1.79 % 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 hyperlink. Also, insider Santiago Arroyo sold 4,943 shares of Bicycle Therapeutics stock in a transaction on 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 in the company, valued at $973,013.13. This represents a 6.68 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 33,933 shares of company stock valued at $549,501 over the last three months. 8.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Assetmark Inc. acquired a new stake in Bicycle Therapeutics during the third quarter valued at approximately $34,000. GAMMA Investing LLC raised its holdings in shares of Bicycle Therapeutics by 105.1% in the 3rd quarter. GAMMA Investing LLC now owns 2,026 shares of the company’s stock worth $46,000 after buying an additional 1,038 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted 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 during the period. JPMorgan Chase & Co. boosted its stake in Bicycle Therapeutics by 26.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 8,424 shares of the company’s stock valued at $191,000 after buying an additional 1,782 shares in the last quarter. Finally, XTX Topco Ltd bought a new stake in Bicycle Therapeutics in the second quarter valued at $206,000. Institutional investors and hedge funds 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.