Bicycle Therapeutics (NASDAQ:BCYC) Rating Reiterated by HC Wainwright

Bicycle Therapeutics (NASDAQ:BCYC)‘s stock had its “buy” rating reiterated by equities research analysts at HC Wainwright in a research note issued on Monday, Benzinga reports. They currently have a $55.00 target price on the stock. HC Wainwright’s price target suggests a potential upside of 103.55% from the company’s previous close.

Several other research firms have also recently commented on BCYC. Needham & Company LLC restated a “buy” rating and set a $38.00 target price on shares of Bicycle Therapeutics in a research report on Monday, September 9th. Royal Bank of Canada began coverage on Bicycle Therapeutics in a report on Friday, September 6th. They issued an “outperform” rating and a $35.00 price objective for the company. Oppenheimer reiterated an “outperform” rating and issued a $48.00 price objective on shares of Bicycle Therapeutics in a report on Wednesday, August 7th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Bicycle Therapeutics in a report on Monday, September 9th. Finally, B. Riley cut Bicycle Therapeutics from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $33.00 to $28.00 in a report on Wednesday, August 7th. Two research analysts have rated the stock with a hold rating and seven have assigned 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 a consensus price target of $44.56.

Bicycle Therapeutics Stock Performance

Shares of BCYC opened at $27.02 on Monday. The firm has a market cap of $1.28 billion, a PE ratio of -6.07 and a beta of 0.90. The stock’s fifty day moving average price is $23.06 and its two-hundred day moving average price is $23.00. The company has a debt-to-equity ratio of 0.01, a current ratio of 14.77 and a quick ratio of 14.77. Bicycle Therapeutics has a 1 year low of $12.54 and a 1 year high of $28.20.

Bicycle Therapeutics (NASDAQ:BCYC) last released its quarterly earnings data on Tuesday, August 6th. The company reported ($0.77) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $6.13 million. Bicycle Therapeutics’s revenue was down 17.9% on a year-over-year basis. On average, equities research analysts forecast that Bicycle Therapeutics will post -3.17 EPS for the current year.

Insider Activity

In other news, CEO Kevin Lee sold 3,194 shares of the business’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $19.64, for a total value of $62,730.16. Following the completion of the sale, the chief executive officer now owns 384,076 shares of the company’s stock, valued at approximately $7,543,252.64. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In the last quarter, insiders sold 4,555 shares of company stock valued at $89,460. Insiders own 8.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Perceptive Advisors LLC bought a new position in Bicycle Therapeutics during the 2nd quarter valued at approximately $11,577,000. The Manufacturers Life Insurance Company raised its position in Bicycle Therapeutics by 275.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 97,392 shares of the company’s stock valued at $1,971,000 after purchasing an additional 71,434 shares during the last quarter. Armistice Capital LLC raised its position in Bicycle Therapeutics by 17.9% during the 2nd quarter. Armistice Capital LLC now owns 1,972,000 shares of the company’s stock valued at $39,913,000 after purchasing an additional 300,000 shares during the last quarter. Cubist Systematic Strategies LLC raised its position in Bicycle Therapeutics by 923.5% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 96,409 shares of the company’s stock valued at $1,951,000 after purchasing an additional 86,989 shares during the last quarter. Finally, First Light Asset Management LLC raised its position in Bicycle Therapeutics by 16.1% during the 2nd quarter. First Light Asset Management LLC now owns 1,384,768 shares of the company’s stock valued at $28,028,000 after purchasing an additional 191,717 shares during 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.