Bicycle Therapeutics’ (BCYC) Buy Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Bicycle Therapeutics (NASDAQ:BCYC) in a research note issued to investors on Monday,Benzinga reports. Needham & Company LLC currently has a $32.00 price objective on the stock.

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

Bicycle Therapeutics Price Performance

Shares of NASDAQ:BCYC opened at $14.55 on Monday. The business’s fifty day moving average price is $17.99 and its two-hundred day moving average price is $21.56. Bicycle Therapeutics has a fifty-two week low of $12.17 and a fifty-two week high of $28.67. The stock has a market capitalization of $1.00 billion, a price-to-earnings ratio of -4.42 and a beta of 0.92.

Bicycle Therapeutics (NASDAQ:BCYC) last issued its earnings results on Thursday, October 31st. The company reported ($0.74) EPS for the quarter, beating the consensus estimate of ($0.78) by $0.04. The company had revenue of $2.68 million for the quarter, compared to the consensus estimate of $6.82 million. Bicycle Therapeutics had a negative net margin of 450.64% and a negative return on equity of 27.35%. The firm’s revenue for the quarter was down 50.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($1.26) EPS. Research 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, Director Bros. Advisors Lp Baker bought 985,397 shares of the stock in a transaction on Friday, December 13th. The stock was purchased at an average price of $13.76 per share, with a total value of $13,559,062.72. Following the acquisition, 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 ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Travis Alvin Thompson sold 2,686 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $15.00, for a total value of $40,290.00. Following the completion of the transaction, the chief accounting officer now directly owns 32,146 shares in the company, valued at approximately $482,190. This trade represents a 7.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 33,933 shares of company stock worth $549,501 over the last 90 days. Insiders own 8.50% of the company’s stock.

Institutional Investors Weigh In On Bicycle Therapeutics

A number of institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC lifted 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 buying an additional 1,038 shares during the period. L & S Advisors Inc increased its stake in shares of Bicycle Therapeutics by 2.4% in the 3rd quarter. L & S Advisors Inc now owns 59,735 shares of the company’s stock valued at $1,352,000 after acquiring an additional 1,400 shares during the last quarter. Assetmark Inc. acquired a new stake in shares of Bicycle Therapeutics in the 3rd quarter valued at approximately $34,000. JPMorgan Chase & Co. boosted its stake in Bicycle Therapeutics by 26.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 8,424 shares of the company’s stock worth $191,000 after acquiring an additional 1,782 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. grew its holdings in Bicycle Therapeutics by 69.1% during the third 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. 86.15% of the stock is 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.