Bicycle Therapeutics (NASDAQ:BCYC) Given “Buy” Rating at HC Wainwright

Bicycle Therapeutics (NASDAQ:BCYC)‘s stock had its “buy” rating reiterated by investment analysts at HC Wainwright in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $33.00 price target on the stock. HC Wainwright’s target price points to a potential upside of 197.30% from the stock’s current price.

A number of other equities analysts have also recently commented on BCYC. Royal Bank of Canada restated an “outperform” rating and set a $35.00 target price on shares of Bicycle Therapeutics in a report 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 report on Wednesday, December 18th. Stephens reaffirmed an “equal weight” rating and set a $15.00 price objective on shares of Bicycle Therapeutics in a research report on Wednesday, January 22nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $32.00 target price on shares of Bicycle Therapeutics in a report on Monday, January 13th. Finally, B. Riley cut their price target on Bicycle Therapeutics from $28.00 to $17.00 and set a “neutral” rating on the stock in a research note on Friday, December 13th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $29.14.

Bicycle Therapeutics Stock Performance

Shares of BCYC stock opened at $11.10 on Wednesday. Bicycle Therapeutics has a one year low of $10.91 and a one year high of $28.67. The firm’s 50 day moving average price is $13.42 and its 200-day moving average price is $19.52. The firm has a market cap of $766.46 million, a P/E ratio of -3.37 and a beta of 0.93.

Bicycle Therapeutics (NASDAQ:BCYC) last released its quarterly earnings results 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 analysts’ expectations of $5.47 million. During the same period in the prior year, the firm earned ($1.16) earnings per share. The firm’s revenue was down 30.2% compared to the same quarter last year. As a group, research analysts predict 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, CEO Kevin Lee sold 9,038 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $14.09, for a total value of $127,345.42. Following the completion of the transaction, the chief executive officer now directly owns 495,026 shares of the company’s stock, valued at approximately $6,974,916.34. This trade represents a 1.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Bros. Advisors Lp Baker purchased 500,000 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were purchased at an average cost of $15.34 per share, for a total transaction of $7,670,000.00. Following the purchase, the director now directly owns 9,995,274 shares in the company, valued at approximately $153,327,503.16. This represents a 5.27 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 27,677 shares of company stock valued at $392,413. 8.50% of the stock is owned by company insiders.

Institutional Trading of Bicycle Therapeutics

Several large investors have recently bought and sold shares of the company. Baker BROS. Advisors LP raised its stake in shares of Bicycle Therapeutics by 15.8% during the 4th quarter. Baker BROS. Advisors LP now owns 10,885,357 shares of the company’s stock worth $152,395,000 after buying an additional 1,485,397 shares during the last quarter. Point72 Asset Management L.P. increased its holdings in Bicycle Therapeutics by 406.2% during the 4th quarter. Point72 Asset Management L.P. now owns 4,554,900 shares of the company’s stock valued at $63,769,000 after acquiring an additional 3,655,101 shares in the last quarter. Fcpm Iii Services B.V. raised its position in Bicycle Therapeutics by 47.5% during the fourth quarter. Fcpm Iii Services B.V. now owns 3,452,330 shares of the company’s stock worth $48,333,000 after acquiring an additional 1,112,369 shares during the last quarter. Westfield Capital Management Co. LP lifted its holdings in shares of Bicycle Therapeutics by 21.5% in the third quarter. Westfield Capital Management Co. LP now owns 1,850,945 shares of the company’s stock valued at $41,887,000 after purchasing an additional 327,089 shares in the last quarter. Finally, Candriam S.C.A. grew its position in shares of Bicycle Therapeutics by 3.5% in the fourth quarter. Candriam S.C.A. now owns 1,087,876 shares of the company’s stock valued at $15,230,000 after purchasing an additional 37,278 shares during the last quarter. Institutional investors and hedge funds own 86.15% of the company’s stock.

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.