Bicycle Therapeutics (NASDAQ:BCYC) Stock Rating Reaffirmed by HC Wainwright

Bicycle Therapeutics (NASDAQ:BCYC)‘s stock had its “buy” rating reissued by analysts at HC Wainwright in a research report issued to clients and investors on Friday, Benzinga reports. They currently have a $55.00 price target on the stock. HC Wainwright’s target price would indicate a potential upside of 123.76% from the stock’s current price.

Several other analysts also recently weighed in on the stock. Canaccord Genuity Group reaffirmed a “buy” rating and set a $60.00 price target on shares of Bicycle Therapeutics in a research note on Wednesday, February 21st. Needham & Company LLC restated a “buy” rating and issued a $43.00 price target on shares of Bicycle Therapeutics in a report on Wednesday, April 10th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $46.86.

Bicycle Therapeutics Price Performance

Shares of BCYC stock traded down $0.11 on Friday, reaching $24.58. The company’s stock had a trading volume of 324,430 shares, compared to its average volume of 371,433. The stock’s fifty day simple moving average is $24.02 and its 200-day simple moving average is $19.47. Bicycle Therapeutics has a 1 year low of $12.54 and a 1 year high of $28.91. The company has a current ratio of 8.08, a quick ratio of 8.08 and a debt-to-equity ratio of 0.08.

Bicycle Therapeutics (NASDAQ:BCYC) last released its earnings results on Thursday, May 2nd. The company reported ($0.62) earnings per share for the quarter, beating the consensus estimate of ($1.25) by $0.63. The firm had revenue of $19.53 million for the quarter, compared to the consensus estimate of $6.06 million. Bicycle Therapeutics had a negative return on equity of 50.10% and a negative net margin of 404.14%. The business’s quarterly revenue was up 298.9% on a year-over-year basis. Equities analysts expect that Bicycle Therapeutics will post -5.13 EPS for the current year.

Insider Activity

In other news, CEO Kevin Lee sold 3,158 shares of the company’s stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $23.81, for a total value of $75,191.98. Following the completion of the sale, the chief executive officer now directly owns 387,270 shares in the company, valued at $9,220,898.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 5,312 shares of company stock worth $126,139 over the last three months. Insiders own 10.20% of the company’s stock.

Hedge Funds Weigh In On Bicycle Therapeutics

A number of hedge funds have recently modified their holdings of the business. Woodstock Corp lifted its stake in Bicycle Therapeutics by 4.5% during the 4th quarter. Woodstock Corp now owns 21,479 shares of the company’s stock worth $388,000 after acquiring an additional 926 shares in the last quarter. BluePath Capital Management LLC purchased a new position in shares of Bicycle Therapeutics in the third quarter valued at approximately $31,000. Exchange Traded Concepts LLC grew its holdings in shares of Bicycle Therapeutics by 34.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 6,727 shares of the company’s stock valued at $122,000 after purchasing an additional 1,706 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its stake in Bicycle Therapeutics by 71.4% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 6,859 shares of the company’s stock worth $171,000 after buying an additional 2,858 shares during the period. Finally, Handelsbanken Fonder AB lifted its holdings in Bicycle Therapeutics by 3.9% during the 4th quarter. Handelsbanken Fonder AB now owns 139,800 shares of the company’s stock worth $2,528,000 after buying an additional 5,300 shares in the last quarter. 86.15% of the stock is currently owned by hedge funds and other institutional investors.

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.