Bicycle Therapeutics (NASDAQ:BCYC) Earns “Buy” Rating from HC Wainwright

HC Wainwright reissued their buy rating on shares of Bicycle Therapeutics (NASDAQ:BCYC) in a research report report published on Thursday morning, Benzinga reports. HC Wainwright currently has a $55.00 price objective on the stock.

Other research analysts also recently issued reports about the company. Oppenheimer restated an “outperform” rating and set a $48.00 target price on shares of Bicycle Therapeutics in a research note on Wednesday, August 7th. JMP Securities restated a “market outperform” rating and set a $32.00 price target on shares of Bicycle Therapeutics in a research note on Monday, September 16th. Royal Bank of Canada began coverage on shares of Bicycle Therapeutics in a research report on Friday, September 6th. They issued an “outperform” rating and a $35.00 price objective for the company. B. Riley downgraded shares of Bicycle Therapeutics from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $33.00 to $28.00 in a research report on Wednesday, August 7th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Bicycle Therapeutics in a report on Monday, September 9th. Two 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 stock has an average rating of “Moderate Buy” and an average target price of $44.56.

Bicycle Therapeutics Stock Performance

BCYC stock opened at $24.73 on Thursday. Bicycle Therapeutics has a one year low of $12.54 and a one year high of $28.67. The firm has a market cap of $1.06 billion, a price-to-earnings ratio of -5.56 and a beta of 0.89. The company has a debt-to-equity ratio of 0.01, a quick ratio of 14.77 and a current ratio of 14.77. The firm has a 50-day simple moving average of $24.06 and a two-hundred day simple moving average of $23.07.

Bicycle Therapeutics (NASDAQ:BCYC) last posted its earnings results on Tuesday, August 6th. The company reported ($0.77) EPS for the quarter, beating analysts’ consensus estimates of ($1.10) by $0.33. Bicycle Therapeutics had a negative net margin of 417.88% and a negative return on equity of 32.80%. The company had revenue of $9.36 million during the quarter, compared to analysts’ expectations of $6.13 million. The business’s revenue was down 17.9% compared to the same quarter last year. On average, equities analysts forecast that Bicycle Therapeutics will post -3.17 EPS for the current fiscal year.

Insider Buying and Selling at Bicycle Therapeutics

In other news, CEO Kevin Lee sold 3,212 shares of the stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $22.26, for a total value of $71,499.12. Following the sale, the chief executive officer now owns 380,864 shares in the company, valued at $8,478,032.64. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders sold 4,584 shares of company stock worth $102,040. Company insiders own 8.50% of the company’s stock.

Institutional Trading of Bicycle Therapeutics

A number of hedge funds have recently modified their holdings of BCYC. Price T Rowe Associates Inc. MD lifted its holdings in Bicycle Therapeutics by 45.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 401,646 shares of the company’s stock valued at $10,001,000 after acquiring an additional 124,809 shares during the period. Westfield Capital Management Co. LP lifted its stake in shares of Bicycle Therapeutics by 13.3% in the 1st quarter. Westfield Capital Management Co. LP now owns 1,038,917 shares of the company’s stock valued at $25,869,000 after purchasing an additional 121,613 shares during the period. TD Asset Management Inc lifted its stake in shares of Bicycle Therapeutics by 76.7% in the 2nd quarter. TD Asset Management Inc now owns 97,186 shares of the company’s stock valued at $1,967,000 after purchasing an additional 42,200 shares during the period. Perceptive Advisors LLC purchased a new stake in Bicycle Therapeutics during the second quarter worth $11,577,000. Finally, The Manufacturers Life Insurance Company grew its position in Bicycle Therapeutics by 275.2% during the second quarter. The Manufacturers Life Insurance Company now owns 97,392 shares of the company’s stock valued at $1,971,000 after buying an additional 71,434 shares during the period. 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.