Bicycle Therapeutics (NASDAQ:BCYC) Earns “Buy” Rating from HC Wainwright

Bicycle Therapeutics (NASDAQ:BCYC)‘s stock had its “buy” rating reiterated by equities researchers at HC Wainwright in a research note issued to investors on Friday, Benzinga reports. They presently have a $55.00 price target on the stock. HC Wainwright’s target price points to a potential upside of 123.76% from the stock’s previous close.

BCYC has been the subject of several other research reports. Needham & Company LLC restated a “buy” rating and issued a $43.00 target price on shares of Bicycle Therapeutics in a report on Wednesday, April 10th. Canaccord Genuity Group restated a “buy” rating and set a $60.00 price objective on shares of Bicycle Therapeutics in a research report on Wednesday, February 21st. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $46.86.

Bicycle Therapeutics Stock Down 0.4 %

BCYC traded down $0.11 during trading hours on Friday, hitting $24.58. 324,430 shares of the company’s stock were exchanged, compared to its average volume of 373,722. Bicycle Therapeutics has a 12-month low of $12.54 and a 12-month high of $28.91. The firm has a 50 day moving average of $24.03 and a 200 day moving average of $19.44. The firm has a market cap of $738.38 million, a P/E ratio of -4.79 and a beta of 0.90. The company has a current ratio of 8.08, a quick ratio of 8.08 and a debt-to-equity ratio of 0.08.

Bicycle Therapeutics (NASDAQ:BCYC) last announced its earnings results on Thursday, May 2nd. The company reported ($0.62) earnings per share for the quarter, topping the consensus estimate of ($1.25) by $0.63. Bicycle Therapeutics had a negative net margin of 669.72% and a negative return on equity of 57.80%. The firm had revenue of $19.53 million for the quarter, compared to the consensus estimate of $6.06 million. The firm’s revenue was up 298.9% on a year-over-year basis. Analysts predict that Bicycle Therapeutics will post -5.2 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Kevin Lee sold 3,158 shares of the firm’s stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $23.81, for a total value of $75,191.98. Following the sale, the chief executive officer now directly owns 387,270 shares of the company’s stock, valued at $9,220,898.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last three months, insiders have sold 5,312 shares of company stock valued at $126,139. Insiders own 10.20% of the company’s stock.

Institutional Trading of Bicycle Therapeutics

Hedge funds have recently made changes to their positions in the company. PDS Planning Inc acquired a new stake in shares of Bicycle Therapeutics during the first quarter worth approximately $210,000. China Universal Asset Management Co. Ltd. grew its position in shares of Bicycle Therapeutics by 71.4% during the first quarter. China Universal Asset Management Co. Ltd. now owns 6,859 shares of the company’s stock worth $171,000 after buying an additional 2,858 shares in the last quarter. Pinnacle Associates Ltd. acquired a new stake in shares of Bicycle Therapeutics during the first quarter worth approximately $1,994,000. Woodstock Corp grew its position in shares of Bicycle Therapeutics by 16.3% during the first quarter. Woodstock Corp now owns 24,981 shares of the company’s stock worth $622,000 after buying an additional 3,502 shares in the last quarter. Finally, PNC Financial Services Group Inc. acquired a new stake in shares of Bicycle Therapeutics during the fourth quarter worth approximately $137,000. Hedge funds and other 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.