Bicycle Therapeutics (NASDAQ:BCYC) Receives Outperform Rating from Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of Bicycle Therapeutics (NASDAQ:BCYC) in a research note issued to investors on Friday morning, Benzinga reports. They currently have a $35.00 price target on the stock.

Other equities research analysts have also issued reports about the stock. HC Wainwright reiterated a “buy” rating and issued a $55.00 price objective on shares of Bicycle Therapeutics in a research report on Friday. Needham & Company LLC reiterated a “buy” rating and issued a $38.00 price objective on shares of Bicycle Therapeutics in a research report on Thursday. JMP Securities restated a “market outperform” rating and issued a $32.00 target price on shares of Bicycle Therapeutics in a report on Monday, September 16th. Cantor Fitzgerald restated an “overweight” rating on shares of Bicycle Therapeutics in a report on Monday, September 9th. Finally, B. Riley lowered shares of Bicycle Therapeutics from a “buy” rating to a “neutral” rating and reduced their target price for the company from $33.00 to $28.00 in a report on Wednesday, August 7th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $44.56.

Bicycle Therapeutics Price Performance

Shares of NASDAQ BCYC traded down $0.73 during trading on Friday, hitting $22.71. 665,690 shares of the company were exchanged, compared to its average volume of 354,259. Bicycle Therapeutics has a 1 year low of $12.54 and a 1 year high of $28.67. The company has a debt-to-equity ratio of 0.01, a current ratio of 14.77 and a quick ratio of 14.77. The firm’s fifty day moving average price is $24.19 and its 200 day moving average price is $23.11. The company has a market cap of $1.08 billion, a price-to-earnings ratio of -6.90 and a beta of 0.89.

Bicycle Therapeutics (NASDAQ:BCYC) last released its quarterly earnings data on Thursday, October 31st. The company reported ($0.74) EPS for the quarter, topping the consensus estimate of ($0.80) by $0.06. Bicycle Therapeutics had a negative net margin of 417.88% and a negative return on equity of 32.80%. The business had revenue of $2.68 million for the quarter, compared to analyst estimates of $6.82 million. During the same period in the previous year, the firm earned ($1.26) EPS. The business’s revenue for the quarter was down 50.0% compared to the same quarter last year. On average, sell-side analysts expect that Bicycle Therapeutics will post -3.17 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Kevin Lee sold 3,212 shares of the stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $22.26, for a total transaction of $71,499.12. Following the completion of the transaction, the chief executive officer now directly owns 380,864 shares in the company, valued at approximately $8,478,032.64. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In the last three months, insiders sold 4,584 shares of company stock worth $102,040. 8.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Bicycle Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC boosted its holdings in Bicycle Therapeutics by 105.1% in 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 during the period. Assetmark Inc. bought a new stake in Bicycle Therapeutics during the third quarter valued at $34,000. China Universal Asset Management Co. Ltd. grew its position in shares of Bicycle Therapeutics by 69.1% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 7,138 shares of the company’s stock valued at $162,000 after buying an additional 2,918 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in shares of Bicycle Therapeutics by 0.6% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 888,081 shares of the company’s stock valued at $17,975,000 after buying an additional 4,976 shares during the last quarter. Finally, Handelsbanken Fonder AB raised its stake in Bicycle Therapeutics by 2.4% during the third quarter. Handelsbanken Fonder AB now owns 218,700 shares of the company’s stock worth $4,949,000 after acquiring an additional 5,200 shares during the period. 86.15% of the stock is currently owned by hedge funds and other 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.