HC Wainwright Reiterates Buy Rating for Bicycle Therapeutics (NASDAQ:BCYC)

Bicycle Therapeutics (NASDAQ:BCYC)‘s stock had its “buy” rating restated by analysts at HC Wainwright in a research report issued on Wednesday,Benzinga reports. They presently have a $33.00 target price on the stock. HC Wainwright’s price target suggests a potential upside of 199.18% from the stock’s current price.

Other equities analysts also recently issued reports about the company. B. Riley dropped their price objective 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. JMP Securities dropped their price target on Bicycle Therapeutics from $32.00 to $26.00 and set a “market outperform” rating for the company in a research report on Wednesday, December 18th. Stephens reaffirmed an “equal weight” rating and set a $15.00 price target on shares of Bicycle Therapeutics in a research note on Wednesday, January 22nd. Royal Bank of Canada reissued an “outperform” rating and issued a $35.00 price objective on shares of Bicycle Therapeutics in a research note on Friday, November 1st. Finally, Needham & Company LLC restated a “buy” rating and set a $32.00 target price on shares of Bicycle Therapeutics in a research report on Monday, January 13th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $29.14.

Bicycle Therapeutics Stock Down 2.6 %

NASDAQ:BCYC opened at $11.03 on Wednesday. Bicycle Therapeutics has a fifty-two week low of $10.91 and a fifty-two week high of $28.67. The firm’s fifty day simple moving average is $13.35 and its 200-day simple moving average is $19.46. The stock has a market cap of $761.62 million, a PE ratio of -3.35 and a beta of 0.93.

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

Insider Activity at Bicycle Therapeutics

In other news, CAO Travis Alvin Thompson sold 2,686 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $15.00, for a total transaction of $40,290.00. Following the sale, the chief accounting officer now owns 32,146 shares in the company, valued at $482,190. This trade represents a 7.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Bros. Advisors Lp Baker bought 985,397 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The stock was acquired at an average price of $13.76 per share, with a total value of $13,559,062.72. Following the completion of the purchase, the director now directly owns 9,537,643 shares of the company’s stock, valued at approximately $131,237,967.68. The trade was a 11.52 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders sold 27,677 shares of company stock valued at $392,413. 8.50% of the stock is owned by insiders.

Institutional Trading of Bicycle Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. Point72 Asset Management L.P. increased its stake in shares of Bicycle Therapeutics by 406.2% during the 4th quarter. Point72 Asset Management L.P. now owns 4,554,900 shares of the company’s stock valued at $63,769,000 after acquiring an additional 3,655,101 shares during the last quarter. Baker BROS. Advisors LP grew its holdings in Bicycle Therapeutics by 15.8% in the fourth quarter. Baker BROS. Advisors LP now owns 10,885,357 shares of the company’s stock valued at $152,395,000 after purchasing an additional 1,485,397 shares during the period. Fcpm Iii Services B.V. increased its position in Bicycle Therapeutics by 47.5% during the fourth quarter. Fcpm Iii Services B.V. now owns 3,452,330 shares of the company’s stock worth $48,333,000 after purchasing an additional 1,112,369 shares during the last quarter. Long Focus Capital Management LLC purchased a new position in Bicycle Therapeutics during the fourth quarter worth approximately $7,603,000. Finally, Principal Financial Group Inc. purchased a new position in Bicycle Therapeutics during the third quarter worth approximately $10,028,000. 86.15% of the stock is owned by institutional investors and hedge funds.

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.