Bicycle Therapeutics (NASDAQ:BCYC) Earns Equal Weight Rating from Analysts at Stephens

Analysts at Stephens initiated coverage on shares of Bicycle Therapeutics (NASDAQ:BCYC) in a report issued on Friday,Briefing.com Automated Import reports. The firm set an “equal weight” rating and a $25.00 price target on the stock. Stephens’ target price suggests a potential upside of 1.21% from the stock’s previous close.

BCYC has been the subject of a number of other reports. HC Wainwright restated a “buy” rating and issued a $55.00 target price on shares of Bicycle Therapeutics in a research note on Friday, November 1st. Royal Bank of Canada reiterated an “outperform” rating and set a $35.00 price objective on shares of Bicycle Therapeutics in a research note on Friday, November 1st. JMP Securities reiterated a “market outperform” rating and set a $32.00 price objective on shares of Bicycle Therapeutics in a research note on Monday, September 16th. Oppenheimer reiterated an “outperform” rating and set a $48.00 price objective on shares of Bicycle Therapeutics in a research note on Wednesday, August 7th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Bicycle Therapeutics in a research note on Monday, September 9th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.89.

Bicycle Therapeutics Trading Up 4.5 %

BCYC opened at $24.70 on Friday. Bicycle Therapeutics has a 1-year low of $12.54 and a 1-year high of $28.67. The stock has a market capitalization of $1.17 billion, a price-to-earnings ratio of -7.51 and a beta of 0.89. The business has a 50 day moving average of $24.32 and a 200-day moving average of $23.14.

Bicycle Therapeutics (NASDAQ:BCYC) last posted its quarterly earnings data on Thursday, October 31st. The company reported ($0.74) earnings per share for the quarter, beating the consensus estimate 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%. Bicycle Therapeutics’s revenue for the quarter was down 50.0% compared to the same quarter last year. During the same period in the prior year, the business earned ($1.26) earnings per share. Equities analysts predict that Bicycle Therapeutics will post -3.08 EPS for the current year.

Insider Activity at Bicycle Therapeutics

In other Bicycle Therapeutics news, CEO Kevin Lee sold 3,212 shares of the firm’s stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $22.26, for a total transaction of $71,499.12. Following the transaction, the chief executive officer now owns 380,864 shares in the company, valued at approximately $8,478,032.64. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 4,584 shares of company stock worth $102,040 over the last 90 days. Insiders own 8.50% of the company’s stock.

Hedge Funds Weigh In On Bicycle Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of BCYC. Baker BROS. Advisors LP grew its position in shares of Bicycle Therapeutics by 176.1% in the 1st quarter. Baker BROS. Advisors LP now owns 4,942,823 shares of the company’s stock valued at $123,076,000 after purchasing an additional 3,152,433 shares during the period. Avoro Capital Advisors LLC acquired a new position in shares of Bicycle Therapeutics in the 2nd quarter valued at approximately $14,168,000. Perceptive Advisors LLC acquired a new position in shares of Bicycle Therapeutics in the 2nd quarter valued at approximately $11,577,000. Principal Financial Group Inc. acquired a new position in shares of Bicycle Therapeutics in the 3rd quarter valued at approximately $10,028,000. Finally, Armistice Capital LLC lifted its stake in Bicycle Therapeutics by 17.9% in the 2nd quarter. Armistice Capital LLC now owns 1,972,000 shares of the company’s stock valued at $39,913,000 after acquiring an additional 300,000 shares in the last quarter. 86.15% of the stock is currently owned by institutional investors and hedge funds.

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.