Bicycle Therapeutics (NASDAQ:BCYC) Rating Reiterated by JMP Securities

Bicycle Therapeutics (NASDAQ:BCYC)‘s stock had its “market outperform” rating reaffirmed by equities research analysts at JMP Securities in a research note issued to investors on Monday, Benzinga reports. They presently have a $32.00 price target on the stock. JMP Securities’ price target would suggest a potential upside of 23.65% from the company’s current price.

Other research analysts have also issued research reports about the company. Royal Bank of Canada began coverage on Bicycle Therapeutics in a report on Friday, September 6th. They set an “outperform” rating and a $35.00 price objective for the company. B. Riley lowered Bicycle Therapeutics from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $33.00 to $28.00 in a research note on Wednesday, August 7th. Needham & Company LLC reissued a “buy” rating and set a $38.00 price objective on shares of Bicycle Therapeutics in a report on Monday. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Bicycle Therapeutics in a research note on Monday, September 9th. Finally, HC Wainwright reissued a “buy” rating and set a $55.00 price target on shares of Bicycle Therapeutics in a research note on Monday. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $44.56.

Bicycle Therapeutics Stock Performance

Shares of NASDAQ BCYC traded down $1.14 during mid-day trading on Monday, hitting $25.88. The company had a trading volume of 21,201 shares, compared to its average volume of 330,453. The company has a current ratio of 14.77, a quick ratio of 14.77 and a debt-to-equity ratio of 0.01. Bicycle Therapeutics has a 1 year low of $12.54 and a 1 year high of $28.20. The company has a market capitalization of $1.23 billion, a price-to-earnings ratio of -5.82 and a beta of 0.90. The stock’s 50-day moving average price is $23.06 and its 200-day moving average price is $23.00.

Bicycle Therapeutics (NASDAQ:BCYC) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($0.77) earnings per share for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $6.13 million. The firm’s quarterly revenue was down 17.9% on a year-over-year basis. On average, sell-side analysts forecast that Bicycle Therapeutics will post -3.17 earnings per share for the current year.

Insider Buying and Selling at Bicycle Therapeutics

In related news, CEO Kevin Lee sold 3,194 shares of the company’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $19.64, for a total transaction of $62,730.16. Following the completion of the transaction, the chief executive officer now owns 384,076 shares in the company, valued at $7,543,252.64. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Over the last quarter, insiders have sold 4,555 shares of company stock worth $89,460. 8.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Perceptive Advisors LLC bought a new stake in Bicycle Therapeutics during the 2nd quarter valued at about $11,577,000. The Manufacturers Life Insurance Company increased its holdings in Bicycle Therapeutics by 275.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 97,392 shares of the company’s stock worth $1,971,000 after buying an additional 71,434 shares in the last quarter. Armistice Capital LLC lifted its stake 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 acquiring an additional 300,000 shares during the period. Cubist Systematic Strategies LLC boosted its holdings in shares of 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 acquiring an additional 86,989 shares during the last quarter. Finally, First Light Asset Management LLC raised its holdings in shares of Bicycle Therapeutics by 16.1% during the second 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. 86.15% of the stock is owned by hedge funds and other 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.