HC Wainwright Reaffirms “Buy” Rating for Bicycle Therapeutics (NASDAQ:BCYC)

Bicycle Therapeutics (NASDAQ:BCYC)‘s stock had its “buy” rating reaffirmed by analysts at HC Wainwright in a research report issued to clients and investors on Wednesday,Benzinga reports. They currently have a $33.00 target price on the stock. HC Wainwright’s price objective points to a potential upside of 199.18% from the company’s previous close.

Several other research firms have also recently issued reports on BCYC. B. Riley decreased their price objective on shares of Bicycle Therapeutics from $28.00 to $17.00 and set a “neutral” rating for the company in a research report on Friday, December 13th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $35.00 price target on shares of Bicycle Therapeutics in a report on Friday, November 1st. JMP Securities dropped their price objective on Bicycle Therapeutics from $32.00 to $26.00 and set a “market outperform” rating on the stock in a report on Wednesday, December 18th. Needham & Company LLC reissued a “buy” rating and set a $32.00 target price on shares of Bicycle Therapeutics in a research report on Monday, January 13th. Finally, Stephens reaffirmed an “equal weight” rating and issued a $15.00 price target on shares of Bicycle Therapeutics in a report on Wednesday, January 22nd. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.14.

Bicycle Therapeutics Price Performance

Shares of NASDAQ BCYC opened at $11.03 on Wednesday. The company has a market cap of $761.62 million, a price-to-earnings ratio of -3.35 and a beta of 0.93. The stock’s 50-day moving average is $13.35 and its two-hundred day moving average is $19.46. Bicycle Therapeutics has a 1-year low of $10.91 and a 1-year high of $28.67.

Bicycle Therapeutics (NASDAQ:BCYC) last released its earnings results on Tuesday, February 25th. The company reported ($0.75) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.85) by $0.10. Bicycle Therapeutics had a negative net margin of 450.64% and a negative return on equity of 27.35%. The firm had revenue of $3.70 million for the quarter, compared to analyst estimates of $5.47 million. During the same period in the prior year, the firm earned ($1.16) earnings per share. The business’s quarterly revenue was down 30.2% compared to the same quarter last year. Equities research analysts anticipate that Bicycle Therapeutics will post -3.06 earnings per share for the current fiscal year.

Insider Activity at Bicycle Therapeutics

In other Bicycle Therapeutics news, Director Bros. Advisors Lp Baker purchased 985,397 shares of Bicycle Therapeutics stock in a transaction that occurred on Friday, December 13th. The stock was purchased at an average price of $13.76 per share, for a total transaction of $13,559,062.72. Following the transaction, the director now directly owns 9,537,643 shares in the company, valued at $131,237,967.68. This trade represents a 11.52 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Travis Alvin Thompson sold 2,686 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $15.00, for a total transaction of $40,290.00. Following the sale, the chief accounting officer now owns 32,146 shares of the company’s stock, valued at approximately $482,190. This represents a 7.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 27,677 shares of company stock valued at $392,413 in the last three months. 8.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Bicycle Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. FMR LLC acquired a new stake in Bicycle Therapeutics during the 3rd quarter worth approximately $3,406,000. The Manufacturers Life Insurance Company lifted its holdings in shares of Bicycle Therapeutics by 33.2% during the third quarter. The Manufacturers Life Insurance Company now owns 129,705 shares of the company’s stock worth $2,935,000 after purchasing an additional 32,313 shares during the period. Principal Financial Group Inc. purchased a new position in Bicycle Therapeutics in the 3rd quarter valued at $10,028,000. State Street Corp increased its stake in Bicycle Therapeutics by 233.5% in the 3rd quarter. State Street Corp now owns 86,271 shares of the company’s stock valued at $1,952,000 after buying an additional 60,399 shares during the period. Finally, Jane Street Group LLC increased its stake in Bicycle Therapeutics by 35.7% in the 3rd quarter. Jane Street Group LLC now owns 20,180 shares of the company’s stock valued at $457,000 after buying an additional 5,310 shares during the period. Hedge funds and other institutional investors 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.