Bicycle Therapeutics (NASDAQ:BCYC) Receives Buy Rating from Needham & Company LLC

Bicycle Therapeutics (NASDAQ:BCYC)‘s stock had its “buy” rating reiterated by equities research analysts at Needham & Company LLC in a report released on Tuesday,Benzinga reports. They presently have a $30.00 target price on the stock. Needham & Company LLC’s price objective points to a potential upside of 206.44% from the stock’s previous close.

BCYC has been the topic of a number of other reports. B. Riley reduced their target price on shares of Bicycle Therapeutics from $28.00 to $17.00 and set a “neutral” rating on the stock in a research report on Friday, December 13th. HC Wainwright reaffirmed a “buy” rating and set a $33.00 price objective on shares of Bicycle Therapeutics in a report on Wednesday, February 26th. JMP Securities lowered their target price on Bicycle Therapeutics from $32.00 to $26.00 and set a “market outperform” rating for the company in a research note on Wednesday, December 18th. Finally, Stephens restated an “equal weight” rating and set a $15.00 target price on shares of Bicycle Therapeutics in a research report on Wednesday, January 22nd. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $29.14.

Bicycle Therapeutics Stock Performance

Bicycle Therapeutics stock opened at $9.79 on Tuesday. The business’s fifty day moving average is $12.77 and its two-hundred day moving average is $18.84. The firm has a market cap of $675.96 million, a P/E ratio of -2.98 and a beta of 1.12. Bicycle Therapeutics has a 52 week low of $9.58 and a 52 week high of $28.67.

Bicycle Therapeutics (NASDAQ:BCYC) last released its quarterly earnings results on Tuesday, February 25th. The company reported ($0.75) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.85) by $0.10. Bicycle Therapeutics had a negative return on equity of 27.35% and a negative net margin of 450.64%. The business had revenue of $3.70 million during the quarter, compared to analysts’ expectations of $5.47 million. During the same period in the previous year, the business posted ($1.16) earnings per share. The firm’s revenue for the quarter was down 30.2% compared to the same quarter last year. On average, equities research analysts predict that Bicycle Therapeutics will post -3.06 earnings per share for the current year.

Insider Transactions at Bicycle Therapeutics

In other news, Director Bros. Advisors Lp Baker purchased 500,000 shares of Bicycle Therapeutics stock in a transaction dated Monday, December 16th. The shares were bought at an average cost of $15.34 per share, with a total value of $7,670,000.00. Following the completion of the transaction, the director now directly owns 9,995,274 shares in the company, valued at $153,327,503.16. This trade represents a 5.27 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Alistair Milnes sold 4,578 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $14.09, for a total transaction of $64,504.02. Following the completion of the sale, the chief operating officer now owns 100,724 shares of the company’s stock, valued at approximately $1,419,201.16. This represents a 4.35 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 27,677 shares of company stock worth $392,413. 8.50% of the stock is currently owned by company insiders.

Institutional Trading of Bicycle Therapeutics

A number of institutional investors have recently modified their holdings of the company. Baker BROS. Advisors LP grew its holdings in shares of Bicycle Therapeutics by 15.8% during the fourth quarter. Baker BROS. Advisors LP now owns 10,885,357 shares of the company’s stock worth $152,395,000 after buying an additional 1,485,397 shares in the last quarter. Point72 Asset Management L.P. grew its stake in shares of Bicycle Therapeutics by 406.2% during the 4th quarter. Point72 Asset Management L.P. now owns 4,554,900 shares of the company’s stock worth $63,769,000 after acquiring an additional 3,655,101 shares in the last quarter. Fcpm Iii Services B.V. grew its stake in shares of Bicycle Therapeutics by 47.5% during the 4th quarter. Fcpm Iii Services B.V. now owns 3,452,330 shares of the company’s stock worth $48,333,000 after acquiring an additional 1,112,369 shares in the last quarter. Westfield Capital Management Co. LP raised its holdings in shares of Bicycle Therapeutics by 21.5% in the third quarter. Westfield Capital Management Co. LP now owns 1,850,945 shares of the company’s stock valued at $41,887,000 after purchasing an additional 327,089 shares during the last quarter. Finally, Candriam S.C.A. lifted its position in shares of Bicycle Therapeutics by 3.5% in the fourth quarter. Candriam S.C.A. now owns 1,087,876 shares of the company’s stock worth $15,230,000 after purchasing an additional 37,278 shares in the last quarter. 86.15% of the stock is currently owned by 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.