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

HC Wainwright reiterated their buy rating on shares of Bicycle Therapeutics (NASDAQ:BCYC) in a research report sent to investors on Monday morning, Benzinga reports. They currently have a $55.00 target price on the stock.

Other equities analysts have also issued research reports about the stock. B. Riley lowered shares of Bicycle Therapeutics from a buy rating to a neutral rating and decreased their price target for the stock from $33.00 to $28.00 in a report on Wednesday, August 7th. Royal Bank of Canada initiated coverage on shares of Bicycle Therapeutics in a research note on Friday, September 6th. They issued an outperform rating and a $35.00 price target for the company. Oppenheimer restated an outperform rating and set a $48.00 target price 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, Needham & Company LLC reissued a buy rating and issued a $38.00 target price on shares of Bicycle Therapeutics in a research note on Monday, September 9th. 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 presently has an average rating of Moderate Buy and a consensus target price of $44.56.

Bicycle Therapeutics Stock Down 0.2 %

Bicycle Therapeutics stock opened at $24.36 on Monday. Bicycle Therapeutics has a 1-year low of $12.54 and a 1-year high of $28.20. The firm has a 50 day simple moving average of $23.31 and a 200 day simple moving average of $23.00. The company has a current ratio of 14.77, a quick ratio of 14.77 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $1.04 billion, a price-to-earnings ratio of -5.47 and a beta of 0.90.

Bicycle Therapeutics (NASDAQ:BCYC) last posted 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 net margin of 417.88% and a negative return on equity of 32.80%. The business had revenue of $9.36 million for the quarter, compared to analysts’ expectations of $6.13 million. Bicycle Therapeutics’s quarterly revenue was down 17.9% compared to the same quarter last year. On average, analysts predict that Bicycle Therapeutics will post -3.17 earnings per share for the current year.

Insider Activity

In other Bicycle Therapeutics news, CEO Kevin Lee sold 3,194 shares of the 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 transaction, the chief executive officer now owns 384,076 shares of the company’s stock, valued at $7,543,252.64. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders sold 4,555 shares of company stock valued at $89,460 over the last three months. Insiders own 8.50% of the company’s stock.

Hedge Funds Weigh In On Bicycle Therapeutics

Hedge funds have recently modified their holdings of the company. Baker BROS. Advisors LP boosted its position in shares of Bicycle Therapeutics by 176.1% during the first quarter. Baker BROS. Advisors LP now owns 4,942,823 shares of the company’s stock worth $123,076,000 after acquiring an additional 3,152,433 shares during the last quarter. Westfield Capital Management Co. LP purchased a new position in shares of Bicycle Therapeutics during the fourth quarter valued at about $16,585,000. Avoro Capital Advisors LLC bought a new position in Bicycle Therapeutics during the second quarter valued at approximately $14,168,000. Perceptive Advisors LLC purchased a new position in Bicycle Therapeutics during the 2nd quarter valued at approximately $11,577,000. Finally, Armistice Capital LLC boosted its position in shares of Bicycle Therapeutics by 53.6% during the 4th quarter. Armistice Capital LLC now owns 1,536,000 shares of the company’s stock valued at $27,771,000 after acquiring an additional 536,000 shares during the last quarter. 86.15% of the stock is currently owned by institutional investors.

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.