Bicycle Therapeutics plc (NASDAQ:BCYC) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Bicycle Therapeutics plc (NASDAQ:BCYC) has received a consensus recommendation of “Moderate Buy” from the nine research firms that are currently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $44.56.

Several brokerages recently commented on BCYC. Oppenheimer reaffirmed an “outperform” rating and issued a $48.00 price target on shares of Bicycle Therapeutics in a research note on Wednesday, August 7th. HC Wainwright reaffirmed a “buy” rating and issued a $55.00 price target on shares of Bicycle Therapeutics in a research note on Thursday, October 24th. B. Riley lowered Bicycle Therapeutics from a “buy” rating to a “neutral” rating and decreased their price target for the company from $33.00 to $28.00 in a research note on Wednesday, August 7th. JMP Securities reaffirmed a “market outperform” rating and issued a $32.00 price target on shares of Bicycle Therapeutics in a research note on Monday, September 16th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $38.00 price target on shares of Bicycle Therapeutics in a research note on Thursday.

Bicycle Therapeutics Stock Performance

BCYC opened at $23.45 on Friday. The stock has a market cap of $1.00 billion, a PE ratio of -5.27 and a beta of 0.89. 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 1 year low of $12.54 and a 1 year high of $28.67. The stock’s 50 day simple moving average is $24.16 and its 200-day simple moving average is $23.10.

Bicycle Therapeutics (NASDAQ:BCYC) last released its quarterly earnings data on Tuesday, August 6th. The company reported ($0.77) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.10) by $0.33. The business had revenue of $9.36 million for 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 firm’s quarterly revenue was down 17.9% on a year-over-year basis. Sell-side analysts forecast that Bicycle Therapeutics will post -3.17 EPS for the current year.

Insider Activity

In other news, CEO Kevin Lee sold 3,212 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now owns 380,864 shares of the company’s stock, valued at $8,478,032.64. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold 4,584 shares of company stock valued at $102,040 over the last 90 days. 8.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Bicycle Therapeutics

Large investors have recently made changes to their positions in the company. GAMMA Investing LLC increased 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 valued at $46,000 after purchasing an additional 1,038 shares during the last quarter. PNC Financial Services Group Inc. bought a new stake in Bicycle Therapeutics in the fourth quarter valued at about $137,000. China Universal Asset Management Co. Ltd. increased its holdings in 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 purchasing an additional 2,918 shares during the last quarter. XTX Topco Ltd bought a new stake in Bicycle Therapeutics in the second quarter valued at about $206,000. Finally, PDS Planning Inc bought a new stake in Bicycle Therapeutics in the first quarter valued at about $210,000. Institutional investors and hedge funds 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.