Needham & Company LLC Reaffirms Buy Rating for Bicycle Therapeutics (NASDAQ:BCYC)

Needham & Company LLC reissued their buy rating on shares of Bicycle Therapeutics (NASDAQ:BCYC - Free Report) in a report published on Wednesday,Benzinga reports. The firm currently has a $30.00 target price on the stock.

Other equities analysts also recently issued reports about the company. B. Riley decreased their price target on Bicycle Therapeutics from $28.00 to $17.00 and set a "neutral" rating for the company in a research note on Friday, December 13th. Royal Bank of Canada reissued an "outperform" rating and issued a $35.00 target price on shares of Bicycle Therapeutics in a report on Friday, November 1st. HC Wainwright reissued a "buy" rating and issued a $33.00 target price on shares of Bicycle Therapeutics in a report on Wednesday. Stephens reissued an "equal weight" rating and issued a $15.00 target price on shares of Bicycle Therapeutics in a report on Wednesday, January 22nd. Finally, JMP Securities cut their target price on shares of Bicycle Therapeutics from $32.00 to $26.00 and set a "market outperform" rating on the stock in a report on Wednesday, December 18th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Bicycle Therapeutics has an average rating of "Moderate Buy" and a consensus target price of $29.14.

Bicycle Therapeutics Stock Down 0.5 %

Shares of Bicycle Therapeutics stock traded down $0.06 during trading hours on Wednesday, hitting $10.97. 275,772 shares of the company's stock traded hands, compared to its average volume of 301,484. The stock has a 50 day simple moving average of $13.19 and a 200-day simple moving average of $19.32. The company has a market cap of $757.43 million, a PE ratio of -3.33 and a beta of 0.93. Bicycle Therapeutics has a twelve month low of $10.81 and a twelve month high of $28.67.

Bicycle Therapeutics (NASDAQ:BCYC - Get Free Report) last announced its earnings results on Tuesday, February 25th. The company reported ($0.75) earnings per share for the quarter, beating the consensus estimate of ($0.85) by $0.10. The company had revenue of $3.70 million during the quarter, compared to the consensus estimate of $5.47 million. Bicycle Therapeutics had a negative return on equity of 27.35% and a negative net margin of 450.64%. The company's revenue was down 30.2% on a year-over-year basis. During the same period last year, the firm earned ($1.16) earnings per share. As a group, equities research analysts predict that Bicycle Therapeutics will post -3.06 EPS for the current year.

Insider Activity

In related news, CAO Travis Alvin Thompson sold 2,686 shares of the business's stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $15.00, for a total transaction of $40,290.00. Following the sale, the chief accounting officer now owns 32,146 shares of the company's stock, valued at $482,190. The trade was a 7.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Bros. Advisors Lp Baker bought 985,397 shares of the company's stock in a transaction that occurred on Friday, December 13th. The shares were purchased at an average cost of $13.76 per share, for a total transaction of $13,559,062.72. Following the acquisition, the director now owns 9,537,643 shares of the company's stock, valued at $131,237,967.68. This represents a 11.52 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 27,677 shares of company stock valued at $392,413. Insiders own 8.50% of the company's stock.

Hedge Funds Weigh In On Bicycle Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. FMR LLC acquired a new stake in shares of Bicycle Therapeutics during the 3rd quarter valued at $3,406,000. The Manufacturers Life Insurance Company boosted its stake in shares of Bicycle Therapeutics by 33.2% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 129,705 shares of the company's stock valued at $2,935,000 after buying an additional 32,313 shares during the period. Principal Financial Group Inc. acquired a new stake in shares of Bicycle Therapeutics during the 3rd quarter valued at $10,028,000. State Street Corp boosted its stake in shares of Bicycle Therapeutics by 233.5% during the 3rd quarter. State Street Corp now owns 86,271 shares of the company's stock valued at $1,952,000 after buying an additional 60,399 shares during the period. Finally, Jane Street Group LLC boosted its stake in shares of Bicycle Therapeutics by 35.7% during the 3rd quarter. Jane Street Group LLC now owns 20,180 shares of the company's stock valued at $457,000 after buying an additional 5,310 shares during the period. 86.15% of the stock is currently owned by hedge funds and other institutional investors.

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.