Bicycle Therapeutics’ (BCYC) Buy Rating Reiterated at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Bicycle Therapeutics (NASDAQ:BCYC) in a report released on Monday morning,Benzinga reports. HC Wainwright currently has a $33.00 price objective on the stock.

A number of other brokerages also recently weighed in on BCYC. B. Riley cut their price target on shares of Bicycle Therapeutics from $28.00 to $17.00 and set a “neutral” rating for the company in a report on Friday, December 13th. JMP Securities cut their target price on shares of 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. Stephens began coverage on shares of Bicycle Therapeutics in a report on Friday, November 8th. They set an “equal weight” rating and a $25.00 target price for the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $35.00 price target on shares of Bicycle Therapeutics in a report on Friday, November 1st. Finally, Needham & Company LLC reissued a “buy” rating and set a $32.00 price objective 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 issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average 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 stock has a market cap of $1.00 billion, a price-to-earnings ratio of -4.42 and a beta of 0.92. Bicycle Therapeutics has a 12 month low of $12.17 and a 12 month high of $28.67. The stock’s 50 day moving average price is $17.99 and its 200 day moving average price is $21.56.

Bicycle Therapeutics (NASDAQ:BCYC) last issued its quarterly earnings results on Thursday, October 31st. The company reported ($0.74) earnings per share (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 analysts’ expectations of $6.82 million. Bicycle Therapeutics had a negative return on equity of 27.35% and a negative net margin of 450.64%. The firm’s revenue for the quarter was down 50.0% on a year-over-year basis. During the same period last year, the firm earned ($1.26) EPS. On average, sell-side analysts expect that Bicycle Therapeutics will post -3.05 EPS for the current year.

Insider Activity

In other news, CEO Kevin Lee sold 9,038 shares of the company’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 $127,345.42. Following the transaction, the chief executive officer now owns 495,026 shares in the company, valued at $6,974,916.34. This represents a 1.79 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Travis Alvin Thompson sold 6,256 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $25.11, for a total transaction of $157,088.16. Following the completion of the sale, the chief accounting officer now directly owns 19,241 shares of the company’s stock, valued at $483,141.51. This trade represents a 24.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,933 shares of company stock worth $549,501 over the last quarter. Corporate insiders own 8.50% of the company’s stock.

Institutional Investors Weigh In On Bicycle Therapeutics

A number of institutional investors have recently modified their holdings of the stock. Assetmark Inc. acquired a new position in shares of Bicycle Therapeutics in the third quarter worth $34,000. GAMMA Investing LLC grew 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 purchasing an additional 1,038 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its position in Bicycle Therapeutics by 69.1% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 7,138 shares of the company’s stock worth $162,000 after purchasing an additional 2,918 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of 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 purchasing an additional 1,782 shares in the last quarter. Finally, XTX Topco Ltd acquired a new stake in shares of Bicycle Therapeutics during the 2nd quarter valued at about $206,000. 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.