Bicycle Therapeutics (NASDAQ:BCYC) Earns Outperform Rating from Royal Bank of Canada

Royal Bank of Canada reissued their outperform rating on shares of Bicycle Therapeutics (NASDAQ:BCYC) in a research report sent to investors on Friday, Benzinga reports. Royal Bank of Canada currently has a $35.00 price target on the stock.

A number of other equities analysts have also recently issued reports on the stock. Cantor Fitzgerald restated an “overweight” rating on shares of Bicycle Therapeutics in a research report on Monday, September 9th. Oppenheimer restated an “outperform” rating and set a $48.00 price objective on shares of Bicycle Therapeutics in a research report on Wednesday, August 7th. HC Wainwright reiterated a “buy” rating and set a $55.00 target price on shares of Bicycle Therapeutics in a report on Friday. JMP Securities reissued a “market outperform” rating and issued a $32.00 price target on shares of Bicycle Therapeutics in a report on Monday, September 16th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $38.00 price objective on shares of Bicycle Therapeutics in a research report on Thursday, October 31st. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $45.13.

Bicycle Therapeutics Stock Performance

NASDAQ BCYC opened at $23.46 on Friday. The business has a 50 day moving average price of $24.21 and a 200 day moving average price of $23.12. The company has a debt-to-equity ratio of 0.01, a current ratio of 14.77 and a quick ratio of 14.77. The company has a market capitalization of $1.11 billion, a P/E ratio of -7.13 and a beta of 0.89. Bicycle Therapeutics has a 1-year low of $12.54 and a 1-year high of $28.67.

Bicycle Therapeutics (NASDAQ:BCYC) last released its quarterly earnings results on Thursday, October 31st. The company reported ($0.74) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.78) by $0.04. Bicycle Therapeutics had a negative return on equity of 31.16% and a negative net margin of 450.64%. The business had revenue of $2.68 million during the quarter, compared to the consensus estimate of $6.82 million. During the same quarter in the previous year, the company posted ($1.26) EPS. The business’s revenue was down 50.0% on a year-over-year basis. Sell-side analysts expect that Bicycle Therapeutics will post -3.17 EPS for the current fiscal year.

Insider Activity

In related news, CEO Kevin Lee sold 3,212 shares of the stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $22.26, for a total transaction of $71,499.12. Following the transaction, the chief executive officer now directly owns 380,864 shares in the company, valued at approximately $8,478,032.64. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 4,584 shares of company stock valued at $102,040 over the last quarter. Company insiders own 8.50% of the company’s stock.

Hedge Funds Weigh In On Bicycle Therapeutics

Hedge funds have recently made changes to their positions in the stock. Crossmark Global Holdings Inc. acquired a new stake in shares of Bicycle Therapeutics during the 3rd quarter worth $257,000. Assetmark Inc. purchased a new stake in Bicycle Therapeutics during the third quarter valued at about $34,000. Principal Financial Group Inc. acquired a new stake in Bicycle Therapeutics during the third quarter worth about $10,028,000. Harbor Capital Advisors Inc. raised its holdings in shares of Bicycle Therapeutics by 141.8% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 133,707 shares of the company’s stock worth $3,026,000 after purchasing an additional 78,418 shares during the period. Finally, China Universal Asset Management Co. Ltd. lifted its stake in shares of Bicycle Therapeutics by 69.1% in the 3rd 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. Institutional investors and hedge funds 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.