Stephens Reaffirms Equal Weight Rating for Bicycle Therapeutics (NASDAQ:BCYC)

Bicycle Therapeutics (NASDAQ:BCYC - Get Free Report)'s stock had its "equal weight" rating reissued by equities researchers at Stephens in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $15.00 price target on the stock. Stephens' price objective points to a potential upside of 13.64% from the stock's current price.

A number of other research analysts also recently commented on the company. Royal Bank of Canada reaffirmed an "outperform" rating and set a $35.00 target price on shares of Bicycle Therapeutics in a report on Friday, November 1st. JMP Securities decreased their price objective on shares of Bicycle Therapeutics from $32.00 to $26.00 and set a "market outperform" rating for the company in a report on Wednesday, December 18th. B. Riley dropped their target price on shares of Bicycle Therapeutics from $28.00 to $17.00 and set a "neutral" rating on the stock in a report on Friday, December 13th. HC Wainwright reaffirmed a "buy" rating and issued a $33.00 price target on shares of Bicycle Therapeutics in a report on Monday, January 13th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $32.00 price objective on shares of Bicycle Therapeutics in a research note on Monday, January 13th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $33.25.

Bicycle Therapeutics Stock Performance

Shares of BCYC stock traded down $0.36 during mid-day trading on Wednesday, reaching $13.20. 288,057 shares of the company were exchanged, compared to its average volume of 345,174. The company has a market capitalization of $911.46 million, a P/E ratio of -4.01 and a beta of 0.92. The business's 50 day simple moving average is $16.92 and its 200 day simple moving average is $21.34. Bicycle Therapeutics has a fifty-two week low of $12.17 and a fifty-two week high of $28.67.

Bicycle Therapeutics (NASDAQ:BCYC - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The company reported ($0.74) earnings per share for the quarter, topping the consensus estimate of ($0.78) by $0.04. The company had revenue of $2.68 million during the quarter, compared to analyst estimates of $6.82 million. Bicycle Therapeutics had a negative net margin of 450.64% and a negative return on equity of 27.35%. During the same period last year, the business earned ($1.26) EPS. The firm's revenue for the quarter was down 50.0% compared to the same quarter last year. On average, analysts forecast that Bicycle Therapeutics will post -3.05 EPS for the current year.

Insider Buying and Selling at Bicycle Therapeutics

In other Bicycle Therapeutics news, CAO Travis Alvin Thompson sold 6,256 shares of the firm's stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $25.11, for a total transaction of $157,088.16. Following the transaction, the chief accounting officer now owns 19,241 shares of the company's stock, valued at approximately $483,141.51. This trade represents a 24.54 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Santiago Arroyo sold 4,943 shares of the company's stock in a transaction that occurred on 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 of the company's stock, valued at approximately $973,013.13. This represents a 6.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,933 shares of company stock valued at $549,501 in the last ninety days. Company insiders own 8.50% of the company's stock.

Hedge Funds Weigh In On Bicycle Therapeutics

Several hedge funds have recently modified their holdings of BCYC. Avior Wealth Management LLC bought a new position in Bicycle Therapeutics during the fourth quarter valued at about $57,000. JPMorgan Chase & Co. lifted its holdings in Bicycle Therapeutics by 26.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 8,424 shares of the company's stock valued at $191,000 after acquiring an additional 1,782 shares during the last quarter. Principal Financial Group Inc. bought a new position in shares of Bicycle Therapeutics during the 3rd quarter valued at about $10,028,000. Geode Capital Management LLC grew its stake in shares of Bicycle Therapeutics by 79.3% in the 3rd quarter. Geode Capital Management LLC now owns 38,335 shares of the company's stock worth $868,000 after purchasing an additional 16,958 shares during the last quarter. Finally, Jane Street Group LLC raised its holdings in shares of Bicycle Therapeutics by 35.7% in the 3rd quarter. Jane Street Group LLC now owns 20,180 shares of the company's stock worth $457,000 after purchasing an additional 5,310 shares in the last quarter. 86.15% of the stock is currently owned by institutional investors and hedge funds.

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.