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

Needham & Company LLC reiterated their buy rating on shares of Bicycle Therapeutics (NASDAQ:BCYC) in a research report sent to investors on Monday, Benzinga reports. Needham & Company LLC currently has a $38.00 price target on the stock.

Several other equities analysts have also recently weighed in on the company. Cantor Fitzgerald restated an overweight rating on shares of Bicycle Therapeutics in a report on Monday. HC Wainwright restated a buy rating and set a $55.00 price target on shares of Bicycle Therapeutics in a report on Wednesday, August 7th. Royal Bank of Canada began coverage on Bicycle Therapeutics in a report on Friday, September 6th. They issued an outperform rating and a $35.00 target price for the company. B. Riley cut Bicycle Therapeutics from a buy rating to a neutral rating and dropped their target price for the stock from $33.00 to $28.00 in a report on Wednesday, August 7th. Finally, Oppenheimer reiterated an outperform rating and issued a $48.00 target price on shares of Bicycle Therapeutics in a report on Wednesday, August 7th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $44.56.

Bicycle Therapeutics Stock Down 0.3 %

Shares of BCYC opened at $26.96 on Monday. The company has a market capitalization of $1.28 billion, a PE ratio of -6.06 and a beta of 0.90. The business’s 50 day moving average is $22.63 and its 200 day moving average is $22.97. The company has a current ratio of 14.77, a quick ratio of 14.77 and a debt-to-equity ratio of 0.01. Bicycle Therapeutics has a 12-month low of $12.54 and a 12-month high of $27.82.

Bicycle Therapeutics (NASDAQ:BCYC) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.77) earnings per share for the quarter, beating the consensus estimate of ($1.10) by $0.33. The business had revenue of $9.36 million during 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 quarterly revenue was down 17.9% compared to the same quarter last year. Research analysts expect that Bicycle Therapeutics will post -3.17 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Kevin Lee sold 3,194 shares of the firm’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $19.64, for a total transaction of $62,730.16. Following the completion of the sale, the chief executive officer now directly owns 384,076 shares of the company’s stock, valued at approximately $7,543,252.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last three months, insiders sold 4,555 shares of company stock valued at $89,460. Insiders own 8.50% of the company’s stock.

Institutional Investors Weigh In On Bicycle Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the business. Price T Rowe Associates Inc. MD raised its position in Bicycle Therapeutics by 45.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 401,646 shares of the company’s stock valued at $10,001,000 after purchasing an additional 124,809 shares in the last quarter. Trexquant Investment LP raised its position in Bicycle Therapeutics by 177.6% during the 4th quarter. Trexquant Investment LP now owns 196,323 shares of the company’s stock valued at $3,550,000 after purchasing an additional 125,604 shares in the last quarter. Parkman Healthcare Partners LLC raised its position in Bicycle Therapeutics by 155.0% during the 4th quarter. Parkman Healthcare Partners LLC now owns 312,889 shares of the company’s stock valued at $5,657,000 after purchasing an additional 190,168 shares in the last quarter. Westfield Capital Management Co. LP raised its position in Bicycle Therapeutics by 13.3% during the 1st quarter. Westfield Capital Management Co. LP now owns 1,038,917 shares of the company’s stock valued at $25,869,000 after purchasing an additional 121,613 shares in the last quarter. Finally, Jump Financial LLC raised its position in Bicycle Therapeutics by 108.6% during the 4th quarter. Jump Financial LLC now owns 77,332 shares of the company’s stock valued at $1,398,000 after purchasing an additional 40,265 shares in the last quarter. 86.15% of the stock is owned by institutional investors.

Bicycle Therapeutics Company Profile

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.