Bicycle Therapeutics (NASDAQ:BCYC) Given Buy Rating at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Bicycle Therapeutics (NASDAQ:BCYC) in a report released on Wednesday morning,Benzinga reports. Needham & Company LLC currently has a $30.00 price target on the stock.

A number of other brokerages have also commented on BCYC. B. Riley decreased their price objective on shares of Bicycle Therapeutics from $28.00 to $17.00 and set a “neutral” rating on the stock in a report on Friday, December 13th. Royal Bank of Canada reissued an “outperform” rating and set a $35.00 price target on shares of Bicycle Therapeutics in a research note on Friday, November 1st. JMP Securities dropped their price objective on shares of Bicycle Therapeutics from $32.00 to $26.00 and set a “market outperform” rating for the company in a research report on Wednesday, December 18th. Stephens reiterated an “equal weight” rating and issued a $15.00 price objective on shares of Bicycle Therapeutics in a research report on Wednesday, January 22nd. Finally, HC Wainwright reissued a “buy” rating and issued a $33.00 target price on shares of Bicycle Therapeutics in a research note on Wednesday. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $29.14.

Bicycle Therapeutics Price Performance

Shares of BCYC opened at $11.32 on Wednesday. The business’s 50 day simple moving average is $13.35 and its 200-day simple moving average is $19.46. Bicycle Therapeutics has a one year low of $10.91 and a one year high of $28.67. The company has a market capitalization of $781.65 million, a P/E ratio of -3.44 and a beta of 0.93.

Bicycle Therapeutics (NASDAQ:BCYC) last posted its quarterly earnings data on Tuesday, February 25th. The company reported ($0.75) EPS for the quarter, topping analysts’ consensus estimates of ($0.85) by $0.10. Bicycle Therapeutics had a negative return on equity of 27.35% and a negative net margin of 450.64%. The company had revenue of $3.70 million for the quarter, compared to analyst estimates of $5.47 million. During the same quarter in the previous year, the firm earned ($1.16) earnings per share. The business’s revenue was down 30.2% on a year-over-year basis. On average, sell-side analysts anticipate that Bicycle Therapeutics will post -3.06 EPS for the current fiscal year.

Insider Buying and Selling at Bicycle Therapeutics

In other Bicycle Therapeutics news, CAO Travis Alvin Thompson sold 2,686 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $15.00, for a total value of $40,290.00. Following the transaction, the chief accounting officer now owns 32,146 shares of the company’s stock, valued at approximately $482,190. This represents a 7.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Santiago Arroyo sold 4,943 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $14.09, for a total value of $69,646.87. Following the transaction, the insider now owns 69,057 shares in the company, valued at approximately $973,013.13. This trade represents a 6.68 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 27,677 shares of company stock valued at $392,413. 8.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. FMR LLC bought a new position in shares of Bicycle Therapeutics during the third quarter worth $3,406,000. The Manufacturers Life Insurance Company raised its stake in Bicycle Therapeutics by 33.2% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 129,705 shares of the company’s stock worth $2,935,000 after buying an additional 32,313 shares during the period. Principal Financial Group Inc. bought a new position in Bicycle Therapeutics during the third quarter worth about $10,028,000. State Street Corp grew its stake in Bicycle Therapeutics by 233.5% in the third quarter. State Street Corp now owns 86,271 shares of the company’s stock valued at $1,952,000 after acquiring an additional 60,399 shares during the period. Finally, Jane Street Group LLC increased its holdings in shares of Bicycle Therapeutics by 35.7% in the third quarter. Jane Street Group LLC now owns 20,180 shares of the company’s stock worth $457,000 after acquiring an additional 5,310 shares in the last quarter. Institutional investors and hedge funds 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.