HC Wainwright Reiterates "Buy" Rating for Bicycle Therapeutics (NASDAQ:BCYC)

HC Wainwright reaffirmed their buy rating on shares of Bicycle Therapeutics (NASDAQ:BCYC - Free Report) in a research report report published on Monday,Benzinga reports. The firm currently has a $33.00 target price on the stock.

Several other research analysts have also issued reports on the company. Stephens started coverage on Bicycle Therapeutics in a research report on Friday, November 8th. They set an "equal weight" rating and a $25.00 target price for the company. JMP Securities dropped their price objective on 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 lowered their target price on shares of Bicycle Therapeutics from $28.00 to $17.00 and set a "neutral" rating for the company in a research note on Friday, December 13th. Needham & Company LLC reaffirmed a "buy" rating and issued a $32.00 price target on shares of Bicycle Therapeutics in a research note on Monday. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $35.00 price objective on shares of Bicycle Therapeutics in a research report on Friday, November 1st. 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, Bicycle Therapeutics has an average rating of "Moderate Buy" and an average target price of $34.50.

Bicycle Therapeutics Stock Performance

NASDAQ:BCYC traded up $1.85 during trading hours on Monday, reaching $15.16. The stock had a trading volume of 777,524 shares, compared to its average volume of 409,275. The stock has a market capitalization of $1.05 billion, a PE ratio of -4.61 and a beta of 0.92. Bicycle Therapeutics has a 52 week low of $12.17 and a 52 week high of $28.67. The company has a 50 day moving average price of $18.52 and a two-hundred day moving average price of $21.69.

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

Insider Transactions at Bicycle Therapeutics

In related news, COO Alistair Milnes sold 4,578 shares of the business's stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $14.09, for a total value of $64,504.02. Following the completion of the transaction, the chief operating officer now owns 100,724 shares of the company's stock, valued at $1,419,201.16. The trade was a 4.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Travis Alvin Thompson sold 2,686 shares of the company's stock in a transaction on Monday, January 6th. The stock was sold at an average price of $15.00, for a total value of $40,290.00. Following the sale, the chief accounting officer now owns 32,146 shares of the company's stock, valued at approximately $482,190. This represents a 7.71 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,933 shares of company stock valued at $549,501. Company insiders own 8.50% of the company's stock.

Hedge Funds Weigh In On Bicycle Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC boosted its holdings in shares of Bicycle Therapeutics by 97.2% in the 2nd quarter. Renaissance Technologies LLC now owns 326,800 shares of the company's stock valued at $6,614,000 after buying an additional 161,100 shares in the last quarter. L & S Advisors Inc lifted its position in Bicycle Therapeutics by 16.1% during the second quarter. L & S Advisors Inc now owns 58,335 shares of the company's stock valued at $1,181,000 after acquiring an additional 8,075 shares during the last quarter. XTX Topco Ltd acquired a new stake in Bicycle Therapeutics in the second quarter valued at approximately $206,000. Avoro Capital Advisors LLC purchased a new position in Bicycle Therapeutics in the second quarter worth $14,168,000. Finally, Marshall Wace LLP purchased a new position in Bicycle Therapeutics in the second quarter worth $1,801,000. Hedge funds and other institutional investors own 86.15% of the company's stock.

Bicycle Therapeutics Company Profile

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.