Royal Bank of Canada Begins Coverage on Bicycle Therapeutics (NASDAQ:BCYC)

Equities research analysts at Royal Bank of Canada initiated coverage on shares of Bicycle Therapeutics (NASDAQ:BCYC) in a research note issued on Friday, Briefing.com reports. The brokerage set an “outperform” rating and a $35.00 price target on the stock. Royal Bank of Canada’s price target would suggest a potential upside of 71.32% from the company’s previous close.

Other equities analysts have also issued reports about the company. HC Wainwright restated a “buy” rating and set a $55.00 target price on shares of Bicycle Therapeutics in a report on Wednesday, August 7th. B. Riley lowered Bicycle Therapeutics from a “buy” rating to a “neutral” rating and cut their target price for the company from $33.00 to $28.00 in a report on Wednesday, August 7th. Needham & Company LLC reiterated a “buy” rating and issued a $38.00 price objective on shares of Bicycle Therapeutics in a research note on Wednesday, August 7th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $48.00 price objective on shares of Bicycle Therapeutics in a research note on Wednesday, August 7th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $44.56.

Bicycle Therapeutics Price Performance

BCYC opened at $20.43 on Friday. The stock has a market cap of $873.97 million, a price-to-earnings ratio of -4.59 and a beta of 0.90. Bicycle Therapeutics has a 1 year low of $12.54 and a 1 year high of $27.24. The company has a current ratio of 14.77, a quick ratio of 14.77 and a debt-to-equity ratio of 0.01. The stock has a fifty day moving average price of $22.36 and a 200 day moving average price of $22.95.

Bicycle Therapeutics (NASDAQ:BCYC) last posted its earnings results on Tuesday, August 6th. The company reported ($0.77) earnings per share for the quarter, beating the consensus estimate of ($1.10) by $0.33. Bicycle Therapeutics had a negative return on equity of 32.80% and a negative net margin of 417.88%. The company had revenue of $9.36 million for the quarter, compared to analyst estimates of $6.13 million. Bicycle Therapeutics’s revenue for the quarter was down 17.9% on a year-over-year basis. Analysts forecast that Bicycle Therapeutics will post -3.17 EPS for the current fiscal year.

Insider Activity at Bicycle Therapeutics

In related news, CEO Kevin Lee sold 3,194 shares of the business’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $19.64, for a total transaction of $62,730.16. Following the transaction, the chief executive officer now directly owns 384,076 shares in the company, valued at $7,543,252.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 4,555 shares of company stock worth $89,460 over the last three months. Company insiders own 8.50% of the company’s stock.

Institutional Investors Weigh In On Bicycle Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. acquired a new position in shares of Bicycle Therapeutics in the 4th quarter worth approximately $137,000. China Universal Asset Management Co. Ltd. boosted its holdings in shares of Bicycle Therapeutics by 71.4% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 6,859 shares of the company’s stock worth $171,000 after acquiring an additional 2,858 shares in the last quarter. XTX Topco Ltd acquired a new position in shares of Bicycle Therapeutics in the 2nd quarter worth approximately $206,000. PDS Planning Inc acquired a new position in shares of Bicycle Therapeutics in the 1st quarter worth approximately $210,000. Finally, Natixis Advisors LLC acquired a new position in shares of Bicycle Therapeutics in the 2nd quarter worth approximately $261,000. 86.15% of the stock is owned by institutional investors and hedge funds.

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.