Bicycle Therapeutics’ (BCYC) Buy Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Bicycle Therapeutics (NASDAQ:BCYC) in a report issued on Monday, Benzinga reports. The brokerage currently has a $38.00 price target on the stock.

Several other research analysts have also commented on BCYC. Oppenheimer reiterated an outperform rating and issued a $48.00 price target on shares of Bicycle Therapeutics in a research report on Wednesday, August 7th. Cantor Fitzgerald reissued an overweight rating on shares of Bicycle Therapeutics in a research report on Monday. Royal Bank of Canada began coverage on Bicycle Therapeutics in a research report on Friday. They issued an outperform rating and a $35.00 price target for the company. HC Wainwright reiterated a buy rating and set a $55.00 price objective on shares of Bicycle Therapeutics in a research report on Wednesday, August 7th. Finally, B. Riley lowered shares of Bicycle Therapeutics from a buy rating to a neutral rating and lowered their target price for the stock from $33.00 to $28.00 in a report on Wednesday, August 7th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Bicycle Therapeutics currently has a consensus rating of Moderate Buy and an average price target of $44.56.

Bicycle Therapeutics Stock Performance

NASDAQ:BCYC opened at $26.36 on Monday. The company has a market cap of $1.25 billion, a price-to-earnings ratio of -5.92 and a beta of 0.90. Bicycle Therapeutics has a 1 year low of $12.54 and a 1 year high of $27.24. The stock’s 50 day simple moving average is $22.48 and its two-hundred day simple moving average is $22.96. The company has a debt-to-equity ratio of 0.01, a current ratio of 14.77 and a quick ratio of 14.77.

Bicycle Therapeutics (NASDAQ:BCYC) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.77) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $9.36 million for the quarter, compared to the consensus estimate of $6.13 million. The business’s revenue was down 17.9% on a year-over-year basis. As a group, equities analysts anticipate that Bicycle Therapeutics will post -3.17 earnings per share for the current fiscal year.

Insider Buying and Selling at Bicycle Therapeutics

In other news, CEO Kevin Lee sold 3,194 shares of the firm’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $19.64, for a total transaction of $62,730.16. Following the transaction, the chief executive officer now directly owns 384,076 shares of the company’s stock, valued at $7,543,252.64. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders sold a total of 4,555 shares of company stock valued at $89,460 in the last three months. Company insiders own 8.50% of the company’s stock.

Hedge Funds Weigh In On Bicycle Therapeutics

Several institutional investors have recently made changes to their positions in BCYC. BNP Paribas Financial Markets grew its holdings in Bicycle Therapeutics by 10,489.4% during the 4th quarter. BNP Paribas Financial Markets now owns 36,851 shares of the company’s stock worth $666,000 after acquiring an additional 36,503 shares in the last quarter. Jump Financial LLC boosted its stake in shares of Bicycle Therapeutics by 108.6% during the fourth quarter. Jump Financial LLC now owns 77,332 shares of the company’s stock valued at $1,398,000 after purchasing an additional 40,265 shares in the last quarter. Trexquant Investment LP increased its holdings in Bicycle Therapeutics by 177.6% during the fourth quarter. Trexquant Investment LP now owns 196,323 shares of the company’s stock valued at $3,550,000 after buying an additional 125,604 shares during the period. Westfield Capital Management Co. LP bought a new position in Bicycle Therapeutics in the fourth quarter worth approximately $16,585,000. Finally, Armistice Capital LLC lifted its holdings in Bicycle Therapeutics by 53.6% during the fourth quarter. Armistice Capital LLC now owns 1,536,000 shares of the company’s stock worth $27,771,000 after buying an additional 536,000 shares during the period. Hedge funds and other institutional investors 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.