Cantor Fitzgerald began coverage on shares of Bicycle Therapeutics (NASDAQ:BCYC) in a research note released on Monday morning, Benzinga reports. The brokerage issued an overweight rating and a $30.00 price objective on the stock.
A number of other equities research analysts also recently issued reports on the stock. ValuEngine downgraded shares of Bicycle Therapeutics from a buy rating to a hold rating in a research report on Thursday, July 2nd. HC Wainwright reaffirmed a buy rating and set a $25.00 price objective on shares of Bicycle Therapeutics in a report on Thursday, August 6th. Oppenheimer reissued a buy rating and issued a $27.00 target price on shares of Bicycle Therapeutics in a report on Tuesday, September 22nd. Canaccord Genuity lifted their price objective on Bicycle Therapeutics from $23.50 to $25.00 and gave the stock a buy rating in a research report on Thursday, September 10th. Finally, BidaskClub cut shares of Bicycle Therapeutics from a buy rating to a hold rating in a research note on Thursday, August 27th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average target price of $23.67.
Shares of BCYC stock opened at $18.99 on Monday. The business’s fifty day moving average price is $18.52 and its 200 day moving average price is $16.37. The firm has a market capitalization of $336.05 million, a PE ratio of -9.13 and a beta of -0.42. Bicycle Therapeutics has a 1-year low of $7.50 and a 1-year high of $21.59.
Bicycle Therapeutics (NASDAQ:BCYC) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($0.67) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.48) by ($0.19). Bicycle Therapeutics had a negative return on equity of 43.74% and a negative net margin of 434.29%. The company had revenue of $1.57 million for the quarter, compared to analyst estimates of $2.11 million. On average, equities research analysts anticipate that Bicycle Therapeutics will post -2.38 earnings per share for the current year.
Several hedge funds and other institutional investors have recently bought and sold shares of BCYC. Victory Capital Management Inc. boosted its position in shares of Bicycle Therapeutics by 62.2% during the 1st quarter. Victory Capital Management Inc. now owns 219,734 shares of the company’s stock valued at $3,213,000 after purchasing an additional 84,238 shares in the last quarter. Morgan Stanley grew its holdings in shares of Bicycle Therapeutics by 32,450.0% in the 1st quarter. Morgan Stanley now owns 3,255 shares of the company’s stock worth $44,000 after acquiring an additional 3,245 shares during the last quarter. Squarepoint Ops LLC acquired a new stake in shares of Bicycle Therapeutics during the first quarter worth $179,000. UBS Group AG acquired a new position in shares of Bicycle Therapeutics in the 2nd quarter valued at $36,000. Finally, FMR LLC purchased a new position in Bicycle Therapeutics in the 2nd quarter worth about $3,277,000. Institutional investors and hedge funds own 35.54% of the company’s stock.
About Bicycle Therapeutics
Bicycle Therapeutics Limited, a clinical-stage biopharmaceutical company, develops a class of medicines for diseases that are underserved by existing therapeutics. Its lead product candidate is BT1718, a bicycle toxin conjugate (BTC), which is in Phase I/IIa clinical trials targeting tumors that express Membrane Type 1 matrix metalloprotease.
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