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

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

Several other analysts also recently weighed in on BCYC. Royal Bank of Canada assumed coverage on Bicycle Therapeutics in a research note on Friday, September 6th. They issued an “outperform” rating and a $35.00 price target on the stock. B. Riley downgraded Bicycle Therapeutics from a “buy” rating to a “neutral” rating and cut their price target for the stock from $33.00 to $28.00 in a research note on Wednesday, August 7th. Oppenheimer restated an “outperform” rating and issued a $48.00 price target on shares of Bicycle Therapeutics in a research note on Wednesday, August 7th. Cantor Fitzgerald restated an “overweight” rating on shares of Bicycle Therapeutics in a research note on Monday, September 9th. Finally, Needham & Company LLC restated a “buy” rating and issued a $38.00 price target on shares of Bicycle Therapeutics in a research note on Monday, September 9th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $44.56.

Bicycle Therapeutics Stock Down 0.8 %

Shares of NASDAQ:BCYC opened at $27.02 on Monday. Bicycle Therapeutics has a 52-week low of $12.54 and a 52-week high of $28.20. The firm has a market capitalization of $1.28 billion, a P/E ratio of -6.07 and a beta of 0.90. The stock has a 50 day moving average price of $23.06 and a 200-day moving average price of $23.00. The company has a debt-to-equity ratio of 0.01, a quick ratio of 14.77 and a current ratio of 14.77.

Bicycle Therapeutics (NASDAQ:BCYC) last announced its earnings results on Tuesday, August 6th. The company reported ($0.77) earnings per share (EPS) 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 firm had revenue of $9.36 million during the quarter, compared to analyst estimates of $6.13 million. The company’s quarterly revenue was down 17.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Bicycle Therapeutics will post -3.17 EPS for the current fiscal year.

Insider Transactions at Bicycle Therapeutics

In other news, CEO Kevin Lee sold 3,194 shares of the firm’s 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 transaction, the chief executive officer now directly owns 384,076 shares in the company, valued at approximately $7,543,252.64. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders have sold a total of 4,555 shares of company stock worth $89,460 in the last ninety days. Insiders own 8.50% of the company’s stock.

Hedge Funds Weigh In On Bicycle Therapeutics

A number of institutional investors have recently bought and sold shares of BCYC. PNC Financial Services Group Inc. bought a new position in Bicycle Therapeutics in the 4th quarter worth $137,000. China Universal Asset Management Co. Ltd. raised its holdings in Bicycle Therapeutics by 71.4% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 6,859 shares of the company’s stock worth $171,000 after purchasing an additional 2,858 shares during the period. XTX Topco Ltd bought a new position in Bicycle Therapeutics in the 2nd quarter worth $206,000. PDS Planning Inc bought a new position in Bicycle Therapeutics in the 1st quarter worth $210,000. Finally, Natixis Advisors LLC bought a new position in Bicycle Therapeutics in the 2nd quarter worth $261,000. 86.15% of the stock is owned by institutional investors.

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.