HC Wainwright Reiterates 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 note issued on Friday, Benzinga reports. They presently have a $55.00 price objective on the stock. HC Wainwright’s price objective would suggest a potential upside of 142.18% from the stock’s current price.

A number of other research firms have also recently commented on BCYC. B. Riley cut Bicycle Therapeutics from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $33.00 to $28.00 in a research report on Wednesday, August 7th. Oppenheimer reiterated an “outperform” rating and set a $48.00 price objective on shares of Bicycle Therapeutics in a research report on Wednesday, August 7th. Royal Bank of Canada began coverage on Bicycle Therapeutics in a research report on Friday, September 6th. They set an “outperform” rating and a $35.00 price objective for the company. JMP Securities restated a “market outperform” rating and issued a $32.00 price target on shares of Bicycle Therapeutics in a research report on Monday, September 16th. Finally, Needham & Company LLC restated a “buy” rating and issued a $38.00 price target on shares of Bicycle Therapeutics in a research report on Thursday. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $44.56.

Bicycle Therapeutics Trading Down 3.1 %

Shares of NASDAQ:BCYC opened at $22.71 on Friday. The company has a market cap of $1.08 billion, a P/E ratio of -6.90 and a beta of 0.89. The company has a debt-to-equity ratio of 0.01, a current ratio of 14.77 and a quick ratio of 14.77. Bicycle Therapeutics has a 1 year low of $12.54 and a 1 year high of $28.67. The stock’s fifty day moving average price is $24.19 and its 200-day moving average price is $23.11.

Bicycle Therapeutics (NASDAQ:BCYC) last posted its quarterly earnings data on Thursday, October 31st. The company reported ($0.74) EPS for the quarter, beating analysts’ consensus estimates of ($0.80) by $0.06. The company had revenue of $2.68 million during the quarter, compared to analysts’ expectations of $6.82 million. Bicycle Therapeutics had a negative return on equity of 32.80% and a negative net margin of 417.88%. Bicycle Therapeutics’s revenue for the quarter was down 50.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($1.26) earnings per share. Sell-side 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 stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $22.26, for a total transaction of $71,499.12. Following the completion of the sale, 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 document filed with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders sold 4,584 shares of company stock worth $102,040. 8.50% of the stock is owned by corporate insiders.

Institutional Trading of Bicycle Therapeutics

Several institutional investors have recently made changes to their positions in BCYC. Baker BROS. Advisors LP boosted its stake in Bicycle Therapeutics by 176.1% during the first quarter. Baker BROS. Advisors LP now owns 4,942,823 shares of the company’s stock valued at $123,076,000 after buying an additional 3,152,433 shares during the last quarter. Avoro Capital Advisors LLC bought a new stake in shares of Bicycle Therapeutics in the 2nd quarter valued at approximately $14,168,000. Perceptive Advisors LLC purchased a new stake in shares of Bicycle Therapeutics in the second quarter worth approximately $11,577,000. Principal Financial Group Inc. purchased a new stake in shares of Bicycle Therapeutics in the third quarter worth approximately $10,028,000. Finally, Armistice Capital LLC raised its holdings in shares of Bicycle Therapeutics by 17.9% in the second 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 period. Hedge funds and other institutional investors own 86.15% of the company’s stock.

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.