Bicycle Therapeutics' (BCYC) Buy Rating Reiterated at Needham & Company LLC

Bicycle Therapeutics (NASDAQ:BCYC - Get Free Report)'s stock had its "buy" rating reissued by stock analysts at Needham & Company LLC in a research report issued on Friday,Benzinga reports. They presently have a $29.00 price target on the stock. Needham & Company LLC's price target would suggest a potential upside of 220.09% from the stock's previous close.

A number of other equities research analysts have also weighed in on the company. Stephens reaffirmed an "equal weight" rating and issued a $15.00 price objective on shares of Bicycle Therapeutics in a report on Wednesday, January 22nd. HC Wainwright restated a "buy" rating and set a $33.00 target price on shares of Bicycle Therapeutics in a research report on Wednesday, February 26th. Finally, Barclays lowered their price objective on shares of Bicycle Therapeutics from $40.00 to $15.00 and set an "overweight" rating for the company in a research note on Thursday. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $26.00.

Bicycle Therapeutics Stock Down 2.6 %

Shares of NASDAQ:BCYC traded down $0.24 during trading on Friday, hitting $9.06. 268,337 shares of the stock traded hands, compared to its average volume of 395,633. The company has a fifty day moving average price of $8.66 and a two-hundred day moving average price of $14.18. Bicycle Therapeutics has a 52-week low of $6.10 and a 52-week high of $28.67. The company has a market cap of $626.97 million, a price-to-earnings ratio of -2.75 and a beta of 1.60.

Bicycle Therapeutics (NASDAQ:BCYC - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported ($0.88) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.86) by ($0.02). The company had revenue of $9.98 million during the quarter, compared to analysts' expectations of $8.67 million. Bicycle Therapeutics had a negative net margin of 450.64% and a negative return on equity of 27.35%. On average, equities research analysts predict that Bicycle Therapeutics will post -3.06 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. raised its holdings in shares of Bicycle Therapeutics by 26.8% in the third quarter. JPMorgan Chase & Co. now owns 8,424 shares of the company's stock valued at $191,000 after purchasing an additional 1,782 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its holdings in shares of Bicycle Therapeutics by 30.7% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 9,329 shares of the company's stock worth $131,000 after buying an additional 2,191 shares during the period. Barclays PLC lifted its holdings in Bicycle Therapeutics by 878.3% in the 4th quarter. Barclays PLC now owns 2,612 shares of the company's stock worth $37,000 after buying an additional 2,345 shares during the period. Jane Street Group LLC raised its position in shares of Bicycle Therapeutics by 18.9% in the 4th quarter. Jane Street Group LLC now owns 23,991 shares of the company's stock worth $336,000 after acquiring an additional 3,811 shares in the last quarter. Finally, Avior Wealth Management LLC bought a new position in Bicycle Therapeutics in the 4th quarter worth about $57,000. 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.