Needham & Company LLC Reiterates Buy Rating for Bicycle Therapeutics (NASDAQ:BCYC)

Needham & Company LLC reaffirmed their buy rating on shares of Bicycle Therapeutics (NASDAQ:BCYC) in a report issued on Wednesday,Benzinga reports. Needham & Company LLC currently has a $30.00 price target on the stock.

A number of other equities analysts have also issued reports on the stock. HC Wainwright reissued a “buy” rating and set a $33.00 price target on shares of Bicycle Therapeutics in a research report on Wednesday. Stephens reaffirmed an “equal weight” rating and set a $15.00 target price on shares of Bicycle Therapeutics in a report on Wednesday, January 22nd. B. Riley cut their target price on shares of Bicycle Therapeutics from $28.00 to $17.00 and set a “neutral” rating for the company in a report on Friday, December 13th. JMP Securities cut their target price on shares of Bicycle Therapeutics from $32.00 to $26.00 and set a “market outperform” rating for the company in a report on Wednesday, December 18th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $35.00 target price on shares of Bicycle Therapeutics in a report on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Bicycle Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $29.14.

Bicycle Therapeutics Trading Down 0.5 %

BCYC opened at $10.97 on Wednesday. Bicycle Therapeutics has a 12-month low of $10.81 and a 12-month high of $28.67. The firm has a market capitalization of $757.43 million, a PE ratio of -3.33 and a beta of 0.93. The firm has a 50 day moving average of $13.27 and a two-hundred day moving average of $19.40.

Bicycle Therapeutics (NASDAQ:BCYC) last posted its quarterly earnings results on Tuesday, February 25th. The company reported ($0.75) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $5.47 million. During the same period last year, the firm posted ($1.16) EPS. Bicycle Therapeutics’s revenue for the quarter was down 30.2% compared to the same quarter last year. As a group, analysts predict that Bicycle Therapeutics will post -3.06 EPS for the current fiscal year.

Insider Buying and Selling

In related news, COO Alistair Milnes sold 4,578 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $14.09, for a total value of $64,504.02. Following the completion of the sale, the chief operating officer now owns 100,724 shares of the company’s stock, valued at approximately $1,419,201.16. The trade was a 4.35 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Bros. Advisors Lp Baker purchased 985,397 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was bought at an average cost of $13.76 per share, with a total value of $13,559,062.72. Following the acquisition, the director now owns 9,537,643 shares in the company, valued at $131,237,967.68. This represents 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 corporate insiders.

Institutional Investors Weigh In On Bicycle Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in BCYC. Assetmark Inc. acquired a new stake in Bicycle Therapeutics during the 3rd quarter worth $34,000. Barclays PLC boosted its stake in Bicycle Therapeutics by 878.3% during the 4th quarter. Barclays PLC now owns 2,612 shares of the company’s stock worth $37,000 after purchasing an additional 2,345 shares during the last quarter. Avior Wealth Management LLC acquired a new stake in Bicycle Therapeutics during the 4th quarter worth $57,000. China Universal Asset Management Co. Ltd. boosted its stake in 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 purchasing an additional 2,191 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Bicycle Therapeutics by 26.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 8,424 shares of the company’s stock worth $191,000 after purchasing an additional 1,782 shares during the last quarter. 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.