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

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

A number of other research firms have also commented on BCYC. Oppenheimer reissued an “outperform” rating and issued a $48.00 price objective on shares of Bicycle Therapeutics in a research note on Wednesday, August 7th. JMP Securities reissued a “market outperform” rating and set a $32.00 price objective on shares of Bicycle Therapeutics in a report on Monday, September 16th. Needham & Company LLC reaffirmed a “buy” rating and issued a $38.00 target price on shares of Bicycle Therapeutics in a research note on Monday, September 16th. Royal Bank of Canada assumed coverage on shares of Bicycle Therapeutics in a research note on Friday, September 6th. They set an “outperform” rating and a $35.00 price target on the stock. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Bicycle Therapeutics in a report on Monday, September 9th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Bicycle Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $44.56.

Bicycle Therapeutics Trading Down 2.2 %

Shares of Bicycle Therapeutics stock opened at $24.77 on Thursday. Bicycle Therapeutics has a 12-month low of $12.54 and a 12-month high of $28.67. The stock has a market capitalization of $1.06 billion, a P/E ratio of -5.57 and a beta of 0.89. The company has a 50-day simple moving average of $24.02 and a 200 day simple moving average of $23.05. The company has a quick ratio of 14.77, a current ratio of 14.77 and a debt-to-equity ratio of 0.01.

Bicycle Therapeutics (NASDAQ:BCYC) last issued its quarterly earnings data 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. The firm had revenue of $9.36 million for the quarter, compared to analysts’ expectations of $6.13 million. Bicycle Therapeutics had a negative net margin of 417.88% and a negative return on equity of 32.80%. The firm’s quarterly revenue was down 17.9% compared to the same quarter last year. Research analysts expect that Bicycle Therapeutics will post -3.17 earnings per share for the current fiscal year.

Insider Buying and Selling at Bicycle Therapeutics

In other news, CEO Kevin Lee sold 3,212 shares of the firm’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $22.26, for a total value of $71,499.12. Following the transaction, the chief executive officer now directly owns 380,864 shares in the company, valued at $8,478,032.64. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last 90 days, insiders sold 4,584 shares of company stock worth $102,040. Insiders own 8.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD raised 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 worth $10,001,000 after purchasing an additional 124,809 shares during the period. Westfield Capital Management Co. LP raised its stake in Bicycle Therapeutics by 13.3% during the 1st quarter. Westfield Capital Management Co. LP now owns 1,038,917 shares of the company’s stock worth $25,869,000 after buying an additional 121,613 shares during the period. TD Asset Management Inc lifted its holdings in Bicycle Therapeutics by 76.7% during the second quarter. TD Asset Management Inc now owns 97,186 shares of the company’s stock worth $1,967,000 after acquiring an additional 42,200 shares in the last quarter. Perceptive Advisors LLC acquired a new position in Bicycle Therapeutics in the second quarter valued at about $11,577,000. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Bicycle Therapeutics by 275.2% in the second quarter. The Manufacturers Life Insurance Company now owns 97,392 shares of the company’s stock worth $1,971,000 after acquiring an additional 71,434 shares in the last quarter. 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.