Bicycle Therapeutics' (BCYC) "Buy" Rating Reiterated at Needham & Company LLC

Bicycle Therapeutics (NASDAQ:BCYC - Get Free Report)'s stock had its "buy" rating restated by equities researchers at Needham & Company LLC in a note issued to investors on Monday,Benzinga reports. They currently have a $32.00 price target on the stock. Needham & Company LLC's price target would indicate a potential upside of 111.08% from the stock's current price.

A number of other analysts also recently issued reports on the stock. HC Wainwright dropped their price target on shares of Bicycle Therapeutics from $55.00 to $33.00 and set a "buy" rating on the stock in a report on Monday, December 16th. Royal Bank of Canada reissued an "outperform" rating and set a $35.00 price target on shares of Bicycle Therapeutics in a report on Friday, November 1st. JMP Securities dropped their price target on Bicycle Therapeutics from $32.00 to $26.00 and set a "market outperform" rating on the stock in a research note on Wednesday, December 18th. B. Riley reduced their price objective on Bicycle Therapeutics from $28.00 to $17.00 and set a "neutral" rating for the company in a research report on Friday, December 13th. Finally, Stephens began coverage on Bicycle Therapeutics in a research report on Friday, November 8th. They issued an "equal weight" rating and a $25.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $34.50.

Bicycle Therapeutics Stock Performance

Shares of BCYC traded up $1.85 on Monday, hitting $15.16. 777,524 shares of the stock traded hands, compared to its average volume of 409,275. Bicycle Therapeutics has a one year low of $12.17 and a one year high of $28.67. The company has a market capitalization of $1.05 billion, a PE ratio of -4.61 and a beta of 0.92. The business has a 50 day simple moving average of $18.52 and a 200 day simple moving average of $21.69.

Bicycle Therapeutics (NASDAQ:BCYC - Get Free Report) last posted its quarterly earnings results 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. Bicycle Therapeutics had a negative return on equity of 27.35% and a negative net margin of 450.64%. The firm had revenue of $2.68 million during the quarter, compared to analysts' expectations of $6.82 million. During the same quarter in the previous year, the business earned ($1.26) earnings per share. The company's revenue was down 50.0% on a year-over-year basis. On average, equities analysts expect that Bicycle Therapeutics will post -3.05 earnings per share for the current year.

Insider Activity

In related news, Director Bros. Advisors Lp Baker acquired 985,397 shares of Bicycle Therapeutics stock in a transaction dated Friday, December 13th. The shares were purchased at an average price of $13.76 per share, for a total transaction of $13,559,062.72. Following the completion of the transaction, the director now directly owns 9,537,643 shares in the company, valued at approximately $131,237,967.68. This represents a 11.52 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Santiago Arroyo sold 4,943 shares of the company's stock in a transaction 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 transaction, the insider now owns 69,057 shares of the company's stock, valued at approximately $973,013.13. This represents a 6.68 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 33,933 shares of company stock valued at $549,501 in the last ninety days. Corporate insiders own 8.50% of the company's stock.

Institutional Trading of Bicycle Therapeutics

Hedge funds have recently bought and sold shares of the stock. Assetmark Inc. purchased a new position in shares of Bicycle Therapeutics during the third quarter valued at about $34,000. GAMMA Investing LLC grew its holdings in shares of Bicycle Therapeutics by 105.1% in the third quarter. GAMMA Investing LLC now owns 2,026 shares of the company's stock valued at $46,000 after purchasing an additional 1,038 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in shares of Bicycle Therapeutics by 69.1% in the third quarter. China Universal Asset Management Co. Ltd. now owns 7,138 shares of the company's stock valued at $162,000 after purchasing an additional 2,918 shares in the last quarter. JPMorgan Chase & Co. increased its position in Bicycle Therapeutics by 26.8% in the third quarter. JPMorgan Chase & Co. now owns 8,424 shares of the company's stock worth $191,000 after purchasing an additional 1,782 shares during the last quarter. Finally, XTX Topco Ltd purchased a new stake in Bicycle Therapeutics during the second quarter valued at $206,000. 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.