Bicycle Therapeutics (NASDAQ:BCYC) Receives New Coverage from Analysts at Royal Bank of Canada

Royal Bank of Canada assumed coverage on shares of Bicycle Therapeutics (NASDAQ:BCYC) in a research report released on Friday, Marketbeat.com reports. The firm issued an outperform rating and a $35.00 price objective on the stock.

Several other research firms have also recently weighed in on BCYC. Needham & Company LLC reaffirmed a buy rating and set a $38.00 price objective on shares of Bicycle Therapeutics in a research report on Wednesday, August 7th. B. Riley downgraded Bicycle Therapeutics from a buy rating to a neutral rating and reduced their price target for the stock from $33.00 to $28.00 in a research report on Wednesday, August 7th. HC Wainwright reiterated a buy rating and issued a $55.00 price objective on shares of Bicycle Therapeutics in a report on Wednesday, August 7th. Finally, Oppenheimer restated an outperform rating and set a $48.00 target price on shares of Bicycle Therapeutics in a report on Wednesday, August 7th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of Moderate Buy and an average price target of $44.56.

Bicycle Therapeutics Stock Performance

Shares of BCYC stock opened at $26.36 on Friday. The company has a market capitalization of $1.25 billion, a P/E ratio of -5.92 and a beta of 0.90. Bicycle Therapeutics has a 52 week low of $12.54 and a 52 week high of $27.24. The company has a debt-to-equity ratio of 0.01, a quick ratio of 14.77 and a current ratio of 14.77. The company’s 50 day moving average price is $22.48 and its two-hundred day moving average price is $22.96.

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

Insider Activity at Bicycle Therapeutics

In other Bicycle Therapeutics news, CEO Kevin Lee sold 3,194 shares of the company’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $19.64, for a total transaction of $62,730.16. Following the sale, the chief executive officer now directly owns 384,076 shares of the company’s stock, valued at $7,543,252.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last three months, insiders sold 4,555 shares of company stock valued at $89,460. 8.50% of the stock is owned by corporate insiders.

Institutional Trading of Bicycle Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of BCYC. Perceptive Advisors LLC bought a new position in shares of Bicycle Therapeutics during the 2nd quarter worth approximately $11,577,000. The Manufacturers Life Insurance Company boosted its position in Bicycle Therapeutics by 275.2% during the second quarter. The Manufacturers Life Insurance Company now owns 97,392 shares of the company’s stock worth $1,971,000 after purchasing an additional 71,434 shares during the period. Armistice Capital LLC raised its position in shares of Bicycle Therapeutics by 17.9% in the second quarter. Armistice Capital LLC now owns 1,972,000 shares of the company’s stock valued at $39,913,000 after purchasing an additional 300,000 shares during the period. Cubist Systematic Strategies LLC raised its position in shares of Bicycle Therapeutics by 923.5% in the second quarter. Cubist Systematic Strategies LLC now owns 96,409 shares of the company’s stock valued at $1,951,000 after purchasing an additional 86,989 shares during the period. Finally, First Light Asset Management LLC lifted its stake in shares of Bicycle Therapeutics by 16.1% during the 2nd quarter. First Light Asset Management LLC now owns 1,384,768 shares of the company’s stock worth $28,028,000 after buying an additional 191,717 shares during the last quarter. Institutional investors own 86.15% of the company’s stock.

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.