Bicycle Therapeutics (NASDAQ:BCYC) Rating Reiterated by Cantor Fitzgerald

Cantor Fitzgerald reissued their overweight rating on shares of Bicycle Therapeutics (NASDAQ:BCYC) in a report released on Monday morning, Benzinga reports.

A number of other research firms have also weighed in on BCYC. Needham & Company LLC restated a buy rating and set a $38.00 target price on shares of Bicycle Therapeutics in a report on Wednesday, August 7th. Oppenheimer reissued an outperform rating and issued a $48.00 target price on shares of Bicycle Therapeutics in a research report on Wednesday, August 7th. B. Riley downgraded Bicycle Therapeutics from a buy rating to a neutral rating and cut their price target for the stock from $33.00 to $28.00 in a research report on Wednesday, August 7th. Royal Bank of Canada started coverage on Bicycle Therapeutics in a research report on Friday, September 6th. They set an outperform rating and a $35.00 price target on the stock. Finally, HC Wainwright reissued a buy rating and set a $55.00 target price on shares of Bicycle Therapeutics in a research note on Wednesday, August 7th. Two research 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 has a consensus rating of Moderate Buy and a consensus target price of $44.56.

Bicycle Therapeutics Trading Up 1.0 %

Shares of BCYC stock opened at $27.24 on Monday. Bicycle Therapeutics has a 12-month low of $12.54 and a 12-month high of $28.20. The company has a current ratio of 14.77, a quick ratio of 14.77 and a debt-to-equity ratio of 0.01. The stock’s 50-day moving average price is $22.78 and its 200-day moving average price is $23.00. The stock has a market capitalization of $1.29 billion, a price-to-earnings ratio of -6.12 and a beta of 0.90.

Bicycle Therapeutics (NASDAQ:BCYC) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.77) earnings per share for the quarter, topping the consensus estimate of ($1.10) by $0.33. Bicycle Therapeutics had a negative return on equity of 32.80% and a negative net margin of 417.88%. The company had revenue of $9.36 million for the quarter, compared to analysts’ expectations of $6.13 million. The firm’s revenue was down 17.9% compared to the same quarter last year. Equities research analysts predict that Bicycle Therapeutics will post -3.17 EPS for the current fiscal year.

Insider Buying and Selling

In other Bicycle Therapeutics news, CEO Kevin Lee sold 3,194 shares of the company’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $19.64, for a total value of $62,730.16. Following the sale, the chief executive officer now owns 384,076 shares of the company’s stock, valued at $7,543,252.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last 90 days, insiders have sold 4,555 shares of company stock valued at $89,460. Corporate insiders own 8.50% of the company’s stock.

Hedge Funds Weigh In On Bicycle Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Baker BROS. Advisors LP increased its position in shares of Bicycle Therapeutics by 176.1% in the first quarter. Baker BROS. Advisors LP now owns 4,942,823 shares of the company’s stock worth $123,076,000 after acquiring an additional 3,152,433 shares in the last quarter. Westfield Capital Management Co. LP acquired a new stake in shares of Bicycle Therapeutics in the fourth quarter worth $16,585,000. Avoro Capital Advisors LLC acquired a new stake in shares of Bicycle Therapeutics in the second quarter worth $14,168,000. Perceptive Advisors LLC acquired a new stake in shares of Bicycle Therapeutics in the second quarter worth $11,577,000. Finally, Armistice Capital LLC increased its position in shares of Bicycle Therapeutics by 53.6% in the fourth quarter. Armistice Capital LLC now owns 1,536,000 shares of the company’s stock worth $27,771,000 after acquiring an additional 536,000 shares in the last quarter. 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.