Bicycle Therapeutics (NASDAQ:BCYC) Given Buy Rating at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Bicycle Therapeutics (NASDAQ:BCYC) in a research note published on Thursday morning, Benzinga reports. They currently have a $38.00 price objective on the stock.

BCYC has been the subject of several other research reports. Oppenheimer restated an “outperform” rating and issued a $48.00 price target on shares of Bicycle Therapeutics in a report on Wednesday, August 7th. B. Riley downgraded shares of Bicycle Therapeutics from a “buy” rating to a “neutral” rating and lowered their target price for the company from $33.00 to $28.00 in a report on Wednesday, August 7th. JMP Securities reaffirmed a “market outperform” rating and set a $32.00 price target on shares of Bicycle Therapeutics in a research note on Monday, September 16th. Cantor Fitzgerald reissued an “overweight” rating on shares of Bicycle Therapeutics in a research note on Monday, September 9th. Finally, Royal Bank of Canada assumed coverage on Bicycle Therapeutics in a research report on Friday, September 6th. They issued an “outperform” rating and a $35.00 target price on the stock. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, Bicycle Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $44.56.

Bicycle Therapeutics Stock Down 0.2 %

Shares of NASDAQ BCYC opened at $24.73 on Thursday. The firm has a market cap of $1.06 billion, a P/E ratio of -5.56 and a beta of 0.89. The company has a debt-to-equity ratio of 0.01, a quick ratio of 14.77 and a current ratio of 14.77. Bicycle Therapeutics has a 1 year low of $12.54 and a 1 year high of $28.67. The firm’s 50 day moving average price is $24.06 and its 200 day moving average price is $23.07.

Bicycle Therapeutics (NASDAQ:BCYC) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($0.77) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.10) by $0.33. The business had revenue of $9.36 million for the quarter, compared to analysts’ expectations of $6.13 million. Bicycle Therapeutics had a negative return on equity of 32.80% and a negative net margin of 417.88%. The company’s revenue for the quarter was down 17.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Bicycle Therapeutics will post -3.17 earnings per share for the current year.

Insider Buying and Selling

In other Bicycle Therapeutics news, CEO Kevin Lee sold 3,212 shares of the firm’s stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $22.26, for a total value of $71,499.12. Following the transaction, the chief executive officer now directly owns 380,864 shares of the company’s stock, valued at $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 is available through this hyperlink. In the last three months, insiders sold 4,584 shares of company stock valued at $102,040. Company insiders own 8.50% of the company’s stock.

Institutional Trading of Bicycle Therapeutics

Large investors have recently bought and sold shares of the company. GAMMA Investing LLC lifted its position in shares of Bicycle Therapeutics by 105.1% during the third quarter. GAMMA Investing LLC now owns 2,026 shares of the company’s stock worth $46,000 after purchasing an additional 1,038 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its holdings in Bicycle Therapeutics by 69.1% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 7,138 shares of the company’s stock worth $162,000 after buying an additional 2,918 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in Bicycle Therapeutics by 0.6% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 888,081 shares of the company’s stock worth $17,975,000 after buying an additional 4,976 shares in the last quarter. Handelsbanken Fonder AB boosted its position in Bicycle Therapeutics by 2.4% in the 3rd 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 last quarter. Finally, PNC Financial Services Group Inc. acquired a new stake in shares of Bicycle Therapeutics during the fourth quarter valued at about $137,000. Institutional investors and hedge funds 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.