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

Needham & Company LLC reissued their buy rating on shares of Bicycle Therapeutics (NASDAQ:BCYC) in a research note issued to investors on Tuesday morning,Benzinga reports. The firm currently has a $30.00 price objective on the stock.

BCYC has been the topic of a number of other research reports. Stephens restated an “equal weight” rating and issued a $15.00 target price on shares of Bicycle Therapeutics in a research note on Wednesday, January 22nd. HC Wainwright reiterated a “buy” rating and set a $33.00 price objective on shares of Bicycle Therapeutics in a research note on Wednesday, February 26th. JMP Securities dropped their price objective on shares of 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. Finally, 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 research note on Friday, December 13th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Bicycle Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $29.14.

Bicycle Therapeutics Stock Performance

Shares of Bicycle Therapeutics stock opened at $10.20 on Tuesday. The firm has a market cap of $704.27 million, a PE ratio of -3.10 and a beta of 1.12. The firm’s 50-day simple moving average is $12.68 and its 200-day simple moving average is $18.75. Bicycle Therapeutics has a 1 year low of $9.58 and a 1 year high of $28.67.

Bicycle Therapeutics (NASDAQ:BCYC) last issued its earnings results on Tuesday, February 25th. The company reported ($0.75) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.85) by $0.10. The business had revenue of $3.70 million for the quarter, compared to analyst estimates of $5.47 million. Bicycle Therapeutics had a negative net margin of 450.64% and a negative return on equity of 27.35%. The company’s revenue for the quarter was down 30.2% on a year-over-year basis. During the same quarter in the prior year, the business posted ($1.16) EPS. On average, equities analysts predict that Bicycle Therapeutics will post -3.06 earnings per share for the current year.

Insiders Place Their Bets

In other Bicycle Therapeutics news, 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 value of $69,646.87. Following the completion of the transaction, the insider now owns 69,057 shares in the company, valued at approximately $973,013.13. This represents a 6.68 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Bros. Advisors Lp Baker bought 500,000 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was purchased at an average price of $15.34 per share, with a total value of $7,670,000.00. Following the transaction, the director now owns 9,995,274 shares in the company, valued at $153,327,503.16. The trade was a 5.27 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 27,677 shares of company stock worth $392,413. Insiders own 8.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in BCYC. Principal Financial Group Inc. bought a new position in shares of Bicycle Therapeutics in the third quarter valued at approximately $10,028,000. Assetmark Inc. bought a new position in shares of Bicycle Therapeutics in the third quarter valued at approximately $34,000. Crossmark Global Holdings Inc. bought a new position in shares of Bicycle Therapeutics in the third quarter valued at approximately $257,000. L & S Advisors Inc boosted its holdings in shares of Bicycle Therapeutics by 2.4% in the third quarter. L & S Advisors Inc now owns 59,735 shares of the company’s stock valued at $1,352,000 after acquiring an additional 1,400 shares in the last quarter. Finally, Westfield Capital Management Co. LP boosted 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 acquiring an additional 327,089 shares in the last quarter. 86.15% of the stock is currently owned by institutional investors.

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.