Bicycle Therapeutics’ (BCYC) Market Outperform Rating Reiterated at JMP Securities

JMP Securities reaffirmed their market outperform rating on shares of Bicycle Therapeutics (NASDAQ:BCYC) in a research report sent to investors on Monday, Benzinga reports. They currently have a $32.00 price target on the stock.

Several other analysts have also issued reports on the stock. B. Riley lowered shares of Bicycle Therapeutics from a buy rating to a neutral rating and reduced their price objective for the company from $33.00 to $28.00 in a report on Wednesday, August 7th. HC Wainwright reissued a buy rating and issued a $55.00 price target on shares of Bicycle Therapeutics in a research note on Monday. Royal Bank of Canada assumed coverage on shares of Bicycle Therapeutics in a report on Friday, September 6th. They issued an outperform rating and a $35.00 price objective on the stock. Needham & Company LLC reiterated a buy rating and issued a $38.00 target price on shares of Bicycle Therapeutics in a report on Monday. Finally, Cantor Fitzgerald restated an overweight rating on shares of Bicycle Therapeutics in a research note on Monday, September 9th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $44.56.

Bicycle Therapeutics Stock Performance

Bicycle Therapeutics stock opened at $24.36 on Monday. The stock has a market cap of $1.04 billion, a price-to-earnings ratio of -5.47 and a beta of 0.90. The company has a debt-to-equity ratio of 0.01, a current ratio of 14.77 and a quick ratio of 14.77. The firm has a 50 day simple moving average of $23.31 and a 200-day simple moving average of $23.00. Bicycle Therapeutics has a 1-year low of $12.54 and a 1-year high of $28.20.

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. Bicycle Therapeutics had a negative return on equity of 32.80% and a negative net margin of 417.88%. The company had revenue of $9.36 million during the quarter, compared to analyst estimates of $6.13 million. Bicycle Therapeutics’s revenue was down 17.9% compared to the same quarter last year. On average, analysts expect that Bicycle Therapeutics will post -3.17 EPS for the current year.

Insider Transactions at Bicycle Therapeutics

In other news, CEO Kevin Lee sold 3,194 shares of the stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $19.64, for a total value of $62,730.16. Following the sale, the chief executive officer now directly owns 384,076 shares in the company, valued at $7,543,252.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders have sold 4,555 shares of company stock valued at $89,460. 8.50% of the stock is currently owned by company insiders.

Institutional Trading of Bicycle Therapeutics

A number of large investors have recently made changes to their positions in BCYC. China Universal Asset Management Co. Ltd. grew its holdings in Bicycle Therapeutics by 71.4% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 6,859 shares of the company’s stock worth $171,000 after acquiring an additional 2,858 shares in the last quarter. Woodstock Corp lifted its position in shares of Bicycle Therapeutics by 16.3% during the 1st quarter. Woodstock Corp now owns 24,981 shares of the company’s stock worth $622,000 after purchasing an additional 3,502 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in shares of Bicycle Therapeutics by 0.6% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 888,081 shares of the company’s stock worth $17,975,000 after purchasing an additional 4,976 shares in the last quarter. PNC Financial Services Group Inc. purchased a new position in Bicycle Therapeutics in the fourth quarter valued at $137,000. Finally, L & S Advisors Inc raised its stake in Bicycle Therapeutics by 16.1% in the second quarter. L & S Advisors Inc now owns 58,335 shares of the company’s stock valued at $1,181,000 after buying an additional 8,075 shares in the last quarter. 86.15% of the stock is currently owned by hedge funds and other institutional investors.

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.