Bicycle Therapeutics’ (BCYC) Buy Rating Reaffirmed at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Bicycle Therapeutics (NASDAQ:BCYC) in a research note released on Wednesday morning,Benzinga reports. The brokerage currently has a $33.00 price objective on the stock.

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

Bicycle Therapeutics Stock Performance

BCYC stock opened at $11.32 on Wednesday. Bicycle Therapeutics has a one year low of $10.91 and a one year high of $28.67. The firm has a market cap of $781.65 million, a PE ratio of -3.44 and a beta of 0.93. The firm’s 50 day moving average price is $13.35 and its 200-day moving average price is $19.46.

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

Insider Buying and Selling at Bicycle Therapeutics

In related news, Director Bros. Advisors Lp Baker acquired 985,397 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was acquired at an average price of $13.76 per share, for a total transaction of $13,559,062.72. Following the purchase, the director now owns 9,537,643 shares of the company’s stock, valued at $131,237,967.68. This represents a 11.52 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Santiago Arroyo sold 4,943 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $14.09, for a total value of $69,646.87. Following the transaction, the insider now directly owns 69,057 shares of the company’s stock, valued at approximately $973,013.13. This represents a 6.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 27,677 shares of company stock valued at $392,413 in the last 90 days. Company insiders own 8.50% of the company’s stock.

Institutional Investors Weigh In On Bicycle Therapeutics

A number of large investors have recently modified their holdings of BCYC. Assetmark Inc. acquired a new position in Bicycle Therapeutics in the third quarter valued at approximately $34,000. Barclays PLC grew its position in Bicycle Therapeutics by 878.3% in the 4th quarter. Barclays PLC now owns 2,612 shares of the company’s stock valued at $37,000 after buying an additional 2,345 shares during the last quarter. Avior Wealth Management LLC acquired a new position in shares of Bicycle Therapeutics during the fourth quarter worth about $57,000. China Universal Asset Management Co. Ltd. raised its stake in shares of Bicycle Therapeutics by 30.7% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 9,329 shares of the company’s stock worth $131,000 after buying an additional 2,191 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of Bicycle Therapeutics by 26.8% in the third quarter. JPMorgan Chase & Co. now owns 8,424 shares of the company’s stock valued at $191,000 after buying an additional 1,782 shares in the last quarter. 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.