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

Bicycle Therapeutics (NASDAQ:BCYC)‘s stock had its “buy” rating restated by HC Wainwright in a research note issued to investors on Monday,Benzinga reports. They presently have a $33.00 target price on the stock. HC Wainwright’s target price indicates a potential upside of 122.82% from the company’s current price.

A number of other equities research analysts have also issued reports on the company. B. Riley decreased their price target on Bicycle Therapeutics from $28.00 to $17.00 and set a “neutral” rating for the company in a research note on Friday, December 13th. Stephens began coverage on shares of Bicycle Therapeutics in a research note on Friday, November 8th. They set an “equal weight” rating and a $25.00 target price for the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $32.00 price target on shares of Bicycle Therapeutics in a research note on Monday. Royal Bank of Canada reissued an “outperform” rating and issued a $35.00 price objective on shares of Bicycle Therapeutics in a research report on Friday, November 1st. Finally, JMP Securities reduced their target price on shares of Bicycle Therapeutics from $32.00 to $26.00 and set a “market outperform” rating on the stock in a research report on Wednesday, December 18th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $34.50.

Bicycle Therapeutics Trading Down 2.3 %

Shares of BCYC opened at $14.81 on Monday. Bicycle Therapeutics has a twelve month low of $12.17 and a twelve month high of $28.67. The company’s fifty day simple moving average is $18.18 and its 200-day simple moving average is $21.61. The company has a market cap of $1.02 billion, a P/E ratio of -4.50 and a beta of 0.92.

Bicycle Therapeutics (NASDAQ:BCYC) last posted its quarterly earnings data on Thursday, October 31st. The company reported ($0.74) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.78) by $0.04. Bicycle Therapeutics had a negative net margin of 450.64% and a negative return on equity of 27.35%. The company had revenue of $2.68 million for the quarter, compared to analyst estimates of $6.82 million. During the same period in the prior year, the company posted ($1.26) EPS. The firm’s revenue for the quarter was down 50.0% on a year-over-year basis. Analysts predict that Bicycle Therapeutics will post -3.05 earnings per share for the current fiscal year.

Insider Activity

In other Bicycle Therapeutics news, insider Santiago Arroyo sold 4,943 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $14.09, for a total transaction of $69,646.87. Following the sale, the insider now owns 69,057 shares of the company’s stock, valued at approximately $973,013.13. This trade represents a 6.68 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Travis Alvin Thompson sold 6,256 shares of Bicycle Therapeutics stock in a transaction on Monday, November 11th. The shares were sold at an average price of $25.11, for a total value of $157,088.16. Following the completion of the transaction, the chief accounting officer now owns 19,241 shares in the company, valued at $483,141.51. This represents a 24.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 33,933 shares of company stock worth $549,501. Corporate insiders own 8.50% of the company’s stock.

Institutional Trading of Bicycle Therapeutics

Hedge funds have recently modified their holdings of the company. Armistice Capital LLC grew its position in shares of Bicycle Therapeutics by 17.9% in the 2nd quarter. Armistice Capital LLC now owns 1,972,000 shares of the company’s stock worth $39,913,000 after buying an additional 300,000 shares during the last quarter. Westfield Capital Management Co. LP boosted its stake in 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. First Light Asset Management LLC grew its holdings in Bicycle Therapeutics by 16.1% in the second quarter. First Light Asset Management LLC now owns 1,384,768 shares of the company’s stock worth $28,028,000 after purchasing an additional 191,717 shares during the last quarter. Point72 Asset Management L.P. increased its position in shares of Bicycle Therapeutics by 1,438.1% during the third quarter. Point72 Asset Management L.P. now owns 899,799 shares of the company’s stock worth $20,362,000 after purchasing an additional 841,299 shares in the last quarter. Finally, Avoro Capital Advisors LLC purchased a new stake in shares of Bicycle Therapeutics during the 2nd quarter valued at $14,168,000. 86.15% of the stock is owned by hedge funds and other 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.