Needham & Company LLC Reaffirms Buy Rating for Bicycle Therapeutics (NASDAQ:BCYC)

Bicycle Therapeutics (NASDAQ:BCYC)‘s stock had its “buy” rating restated by stock analysts at Needham & Company LLC in a research report issued on Monday,Benzinga reports. They currently have a $32.00 price target on the stock. Needham & Company LLC’s price objective suggests a potential upside of 117.69% from the company’s previous close.

A number of other analysts have also recently issued reports on the company. B. Riley lowered their target price on Bicycle Therapeutics from $28.00 to $17.00 and set a “neutral” rating for the company in a research note on Friday, December 13th. Stephens initiated coverage on shares of Bicycle Therapeutics in a research report on Friday, November 8th. They set an “equal weight” rating and a $25.00 price objective for the company. JMP Securities cut their price objective on shares of Bicycle Therapeutics from $32.00 to $26.00 and set a “market outperform” rating on the stock in a research report on Wednesday, December 18th. Royal Bank of Canada reiterated an “outperform” rating and set a $35.00 target price on shares of Bicycle Therapeutics in a report on Friday, November 1st. Finally, HC Wainwright cut their price target on Bicycle Therapeutics from $55.00 to $33.00 and set a “buy” rating on the stock in a report on Monday, December 16th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $34.50.

Bicycle Therapeutics Stock Performance

BCYC traded up $1.39 during mid-day trading on Monday, reaching $14.70. The stock had a trading volume of 165,159 shares, compared to its average volume of 320,971. Bicycle Therapeutics has a 52 week low of $12.17 and a 52 week high of $28.67. The stock has a market capitalization of $1.01 billion, a P/E ratio of -4.47 and a beta of 0.92. The firm’s fifty day simple moving average is $18.52 and its two-hundred day simple moving average is $21.69.

Bicycle Therapeutics (NASDAQ:BCYC) last issued its quarterly earnings data on Thursday, October 31st. The company reported ($0.74) EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $6.82 million. During the same quarter last year, the business posted ($1.26) EPS. The firm’s revenue was down 50.0% compared to the same quarter last year. As a group, analysts expect that Bicycle Therapeutics will post -3.05 EPS for the current fiscal year.

Insider Activity at Bicycle Therapeutics

In other Bicycle Therapeutics news, CAO Travis Alvin Thompson sold 6,256 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $25.11, for a total transaction of $157,088.16. Following the completion of the transaction, the chief accounting officer now directly owns 19,241 shares in the company, valued at $483,141.51. The trade was a 24.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Bros. Advisors Lp Baker bought 985,397 shares of the firm’s stock in a transaction on Friday, December 13th. The shares were bought at an average cost of $13.76 per share, for a total transaction of $13,559,062.72. Following the purchase, the director now owns 9,537,643 shares of the company’s stock, valued at approximately $131,237,967.68. The trade was a 11.52 % increase in their position. The disclosure for this purchase can be found here. Insiders sold 33,933 shares of company stock worth $549,501 in the last ninety days. 8.50% of the stock is owned by company insiders.

Institutional Trading of Bicycle Therapeutics

Several large investors have recently modified their holdings of the stock. GAMMA Investing LLC increased its stake in Bicycle Therapeutics by 105.1% in the third quarter. GAMMA Investing LLC now owns 2,026 shares of the company’s stock valued at $46,000 after purchasing an additional 1,038 shares in the last quarter. L & S Advisors Inc lifted its holdings in Bicycle Therapeutics by 2.4% during the third quarter. L & S Advisors Inc now owns 59,735 shares of the company’s stock worth $1,352,000 after acquiring an additional 1,400 shares during the period. Assetmark Inc. purchased a new position in Bicycle Therapeutics in the third quarter worth $34,000. JPMorgan Chase & Co. boosted its position in Bicycle Therapeutics by 26.8% in the third quarter. JPMorgan Chase & Co. now owns 8,424 shares of the company’s stock worth $191,000 after purchasing an additional 1,782 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. grew its stake in Bicycle Therapeutics by 69.1% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 7,138 shares of the company’s stock valued at $162,000 after purchasing an additional 2,918 shares during the period. Institutional investors and hedge funds own 86.15% of the company’s stock.

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.