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

Needham & Company LLC reissued their buy rating on shares of Bicycle Therapeutics (NASDAQ:BCYC) in a research note issued to investors on Monday morning,Benzinga reports. They currently have a $32.00 target price on the stock.

Several other equities analysts have also issued reports on BCYC. JMP Securities lowered 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. HC Wainwright lowered their price target on Bicycle Therapeutics from $55.00 to $33.00 and set a “buy” rating for the company in a research report on Monday, December 16th. Stephens began coverage on Bicycle Therapeutics in a research report on Friday, November 8th. They issued an “equal weight” rating and a $25.00 price target for the company. B. Riley lowered their price target on Bicycle Therapeutics from $28.00 to $17.00 and set a “neutral” rating for the company in a research report on Friday, December 13th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $35.00 target price on shares of Bicycle Therapeutics in a research report on Friday, November 1st. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Bicycle Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.50.

Bicycle Therapeutics Trading Up 13.9 %

Shares of BCYC stock opened at $15.16 on Monday. Bicycle Therapeutics has a 12 month low of $12.17 and a 12 month high of $28.67. The stock has a market cap of $1.05 billion, a PE ratio of -4.61 and a beta of 0.92. The company’s fifty day moving average price is $18.52 and its 200-day moving average price is $21.69.

Bicycle Therapeutics (NASDAQ:BCYC) last announced its earnings results on Thursday, October 31st. The company reported ($0.74) EPS for the quarter, beating analysts’ consensus estimates of ($0.78) by $0.04. The firm had revenue of $2.68 million for the quarter, compared to analysts’ expectations of $6.82 million. Bicycle Therapeutics had a negative net margin of 450.64% and a negative return on equity of 27.35%. The company’s quarterly revenue was down 50.0% on a year-over-year basis. During the same quarter in the previous year, the business posted ($1.26) EPS. On average, sell-side analysts forecast that Bicycle Therapeutics will post -3.05 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Bicycle Therapeutics news, insider Santiago Arroyo sold 4,943 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $14.09, for a total transaction of $69,646.87. Following the completion of the sale, the insider now directly owns 69,057 shares in the company, valued at $973,013.13. The trade was a 6.68 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Bros. Advisors Lp Baker purchased 985,397 shares of the business’s stock in a transaction on Friday, December 13th. The shares were purchased 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 owns 9,537,643 shares in the company, valued at approximately $131,237,967.68. This trade represents a 11.52 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 33,933 shares of company stock valued at $549,501. 8.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Bicycle Therapeutics

A number of large investors have recently made changes to their positions in the company. JPMorgan Chase & Co. grew its stake in shares of Bicycle Therapeutics by 26.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 8,424 shares of the company’s stock valued at $191,000 after purchasing an additional 1,782 shares during the period. Principal Financial Group Inc. bought a new position in shares of Bicycle Therapeutics during the 3rd quarter valued at approximately $10,028,000. Geode Capital Management LLC grew its stake in shares of Bicycle Therapeutics by 79.3% during the 3rd quarter. Geode Capital Management LLC now owns 38,335 shares of the company’s stock valued at $868,000 after acquiring an additional 16,958 shares during the period. Jane Street Group LLC grew its stake in shares of Bicycle Therapeutics by 35.7% during the 3rd quarter. Jane Street Group LLC now owns 20,180 shares of the company’s stock valued at $457,000 after acquiring an additional 5,310 shares during the period. Finally, State Street Corp grew its stake in shares of Bicycle Therapeutics by 233.5% during the 3rd quarter. State Street Corp now owns 86,271 shares of the company’s stock valued at $1,952,000 after acquiring an additional 60,399 shares during the period. 86.15% of the stock is currently owned by institutional investors.

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.