Bicycle Therapeutics (NASDAQ:BCYC) Earns Outperform Rating from Royal Bank of Canada

Bicycle Therapeutics (NASDAQ:BCYC)‘s stock had its “outperform” rating reissued by Royal Bank of Canada in a note issued to investors on Friday, Benzinga reports. They presently have a $35.00 target price on the stock. Royal Bank of Canada’s price target would indicate a potential upside of 48.31% from the stock’s previous close.

Several other research firms also recently weighed in on BCYC. Needham & Company LLC restated a “buy” rating and set a $38.00 target price on shares of Bicycle Therapeutics in a report on Thursday. Cantor Fitzgerald restated an “overweight” rating on shares of Bicycle Therapeutics in a report on Monday, September 9th. HC Wainwright restated a “buy” rating and set a $55.00 target price on shares of Bicycle Therapeutics in a report on Friday. JMP Securities restated a “market outperform” rating and set a $32.00 target price on shares of Bicycle Therapeutics in a report on Monday, September 16th. Finally, B. Riley downgraded shares of Bicycle Therapeutics from a “buy” rating to a “neutral” rating and dropped their target price for the company from $33.00 to $28.00 in a report on Wednesday, August 7th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Bicycle Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $44.56.

Bicycle Therapeutics Price Performance

Shares of BCYC traded up $0.16 during trading hours on Friday, reaching $23.60. The company had a trading volume of 169,480 shares, compared to its average volume of 352,821. The firm has a 50 day simple moving average of $24.18 and a 200-day simple moving average of $23.11. The company has a current ratio of 14.77, a quick ratio of 14.77 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $1.12 billion, a price-to-earnings ratio of -6.19 and a beta of 0.89. Bicycle Therapeutics has a 12-month low of $12.54 and a 12-month high of $28.67.

Bicycle Therapeutics (NASDAQ:BCYC) last announced its quarterly earnings results on Thursday, October 31st. The company reported ($0.74) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.80) by $0.06. The business had revenue of $2.68 million during the quarter, compared to the consensus estimate of $6.82 million. Bicycle Therapeutics had a negative net margin of 417.88% and a negative return on equity of 32.80%. The business’s revenue was down 50.0% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.26) EPS. Research analysts expect that Bicycle Therapeutics will post -3.17 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Kevin Lee sold 3,212 shares of the firm’s stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $22.26, for a total value of $71,499.12. Following the transaction, the chief executive officer now owns 380,864 shares in the company, valued at approximately $8,478,032.64. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last three months, insiders have sold 4,584 shares of company stock valued at $102,040. Insiders own 8.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Principal Financial Group Inc. purchased a new position in Bicycle Therapeutics in the third quarter valued at approximately $10,028,000. Harbor Capital Advisors Inc. raised its holdings in Bicycle Therapeutics by 141.8% in the third quarter. Harbor Capital Advisors Inc. now owns 133,707 shares of the company’s stock valued at $3,026,000 after buying an additional 78,418 shares during the period. China Universal Asset Management Co. Ltd. raised its holdings in Bicycle Therapeutics by 69.1% in the third quarter. China Universal Asset Management Co. Ltd. now owns 7,138 shares of the company’s stock valued at $162,000 after buying an additional 2,918 shares during the period. GAMMA Investing LLC raised its holdings in Bicycle Therapeutics by 105.1% in the third quarter. GAMMA Investing LLC now owns 2,026 shares of the company’s stock valued at $46,000 after buying an additional 1,038 shares during the period. Finally, Handelsbanken Fonder AB raised its holdings in Bicycle Therapeutics by 2.4% in the third quarter. Handelsbanken Fonder AB now owns 218,700 shares of the company’s stock valued at $4,949,000 after buying an additional 5,200 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.