Needham & Company LLC Reiterates “Buy” Rating for Bicycle Therapeutics (NASDAQ:BCYC)

Bicycle Therapeutics (NASDAQ:BCYC)‘s stock had its “buy” rating reaffirmed by investment analysts at Needham & Company LLC in a research report issued on Wednesday,Benzinga reports. They currently have a $30.00 price target on the stock. Needham & Company LLC’s price target indicates a potential upside of 170.27% from the stock’s previous close.

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

Bicycle Therapeutics Trading Down 1.3 %

NASDAQ:BCYC opened at $11.10 on Wednesday. The stock has a 50 day moving average of $13.42 and a 200-day moving average of $19.52. The firm has a market capitalization of $766.46 million, a PE ratio of -3.37 and a beta of 0.93. Bicycle Therapeutics has a 52 week low of $10.91 and a 52 week high of $28.67.

Bicycle Therapeutics (NASDAQ:BCYC) last issued 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. The firm had revenue of $3.70 million during the quarter, compared to the consensus estimate of $5.47 million. Bicycle Therapeutics had a negative return on equity of 27.35% and a negative net margin of 450.64%. The firm’s revenue was down 30.2% on a year-over-year basis. During the same period in the prior year, the business earned ($1.16) EPS. As a group, analysts predict that Bicycle Therapeutics will post -3.06 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Bros. Advisors Lp Baker bought 985,397 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were purchased at an average cost of $13.76 per share, with a total value of $13,559,062.72. Following the completion of the acquisition, the director now directly owns 9,537,643 shares in the company, valued at approximately $131,237,967.68. The trade was a 11.52 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Santiago Arroyo sold 4,943 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $14.09, for a total transaction of $69,646.87. Following the completion of the sale, the insider now directly owns 69,057 shares of the company’s stock, valued at $973,013.13. The trade was a 6.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 27,677 shares of company stock valued at $392,413 over the last quarter. Corporate insiders own 8.50% of the company’s stock.

Institutional Trading of Bicycle Therapeutics

A number of large investors have recently added to or reduced their stakes in the business. Assetmark Inc. acquired a new stake in shares of Bicycle Therapeutics during the 3rd quarter valued at $34,000. Barclays PLC lifted its holdings in shares of Bicycle Therapeutics by 878.3% during the fourth quarter. Barclays PLC now owns 2,612 shares of the company’s stock valued at $37,000 after purchasing an additional 2,345 shares during the last quarter. Avior Wealth Management LLC acquired a new position in shares of Bicycle Therapeutics in the 4th quarter valued at $57,000. China Universal Asset Management Co. Ltd. increased its stake 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 in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in 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 buying an additional 1,782 shares during the period. 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.