Bicycle Therapeutics’ (BCYC) “Buy” Rating Reiterated at Needham & Company LLC

Bicycle Therapeutics (NASDAQ:BCYC)‘s stock had its “buy” rating reiterated by stock analysts at Needham & Company LLC in a research note issued on Monday,Benzinga reports. They currently have a $32.00 price objective on the stock. Needham & Company LLC’s price target suggests a potential upside of 117.69% from the company’s current price.

BCYC has been the subject of a number of other reports. HC Wainwright cut their price objective on Bicycle Therapeutics from $55.00 to $33.00 and set a “buy” rating for the company in a report on Monday, December 16th. JMP Securities reduced their price target on shares of 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. Royal Bank of Canada reaffirmed an “outperform” rating and set a $35.00 price target on shares of Bicycle Therapeutics in a research report on Friday, November 1st. B. Riley cut their price target on shares of Bicycle Therapeutics from $28.00 to $17.00 and set a “neutral” rating on the stock in a report on Friday, December 13th. Finally, Stephens began coverage on shares of Bicycle Therapeutics in a report on Friday, November 8th. They issued an “equal weight” rating and a $25.00 price objective for the company. 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 a consensus rating of “Moderate Buy” and an average price target of $34.50.

Bicycle Therapeutics Trading Up 10.4 %

Shares of NASDAQ BCYC traded up $1.39 during midday trading on Monday, hitting $14.70. The company’s stock had a trading volume of 165,159 shares, compared to its average volume of 320,971. The stock has a fifty day moving average price of $18.52 and a 200 day moving average price of $21.69. The firm has a market capitalization of $1.01 billion, a price-to-earnings ratio of -4.47 and a beta of 0.92. Bicycle Therapeutics has a one year low of $12.17 and a one year high of $28.67.

Bicycle Therapeutics (NASDAQ:BCYC) last issued its earnings results on Thursday, October 31st. The company reported ($0.74) EPS for the quarter, topping the consensus estimate of ($0.78) by $0.04. The business had revenue of $2.68 million during the quarter, compared to the consensus estimate of $6.82 million. Bicycle Therapeutics had a negative return on equity of 27.35% and a negative net margin of 450.64%. The firm’s revenue was down 50.0% compared to the same quarter last year. During the same quarter last year, the company earned ($1.26) EPS. On average, equities research analysts predict that Bicycle Therapeutics will post -3.05 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Kevin Lee sold 9,038 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $14.09, for a total transaction of $127,345.42. Following the transaction, the chief executive officer now owns 495,026 shares in the company, valued at $6,974,916.34. This represents a 1.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Michael Skynner sold 3,287 shares of Bicycle Therapeutics stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $14.09, for a total transaction of $46,313.83. Following the completion of the sale, the chief technology officer now directly owns 124,658 shares of the company’s stock, valued at approximately $1,756,431.22. This trade represents a 2.57 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,933 shares of company stock valued at $549,501. Corporate insiders own 8.50% of the company’s stock.

Institutional Investors Weigh In On Bicycle Therapeutics

A number of hedge funds have recently modified their holdings of the business. Assetmark Inc. purchased a new stake in shares of Bicycle Therapeutics in the third quarter worth $34,000. GAMMA Investing LLC raised its holdings in Bicycle Therapeutics by 105.1% during the third quarter. GAMMA Investing LLC now owns 2,026 shares of the company’s stock valued at $46,000 after acquiring an additional 1,038 shares during the period. China Universal Asset Management Co. Ltd. lifted its position in shares of Bicycle Therapeutics by 69.1% in the third quarter. China Universal Asset Management Co. Ltd. now owns 7,138 shares of the company’s stock valued at $162,000 after acquiring an additional 2,918 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Bicycle Therapeutics by 26.8% during the third quarter. JPMorgan Chase & Co. now owns 8,424 shares of the company’s stock worth $191,000 after purchasing an additional 1,782 shares in the last quarter. Finally, XTX Topco Ltd bought a new stake in Bicycle Therapeutics during the 2nd quarter valued at approximately $206,000. 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.