Barclays research analysts have launched a hedge on the shares of Bicycle Therapeutics (NASDAQ: BCYC – Get Review) in a research report delivered to clients and investors on Thursday, MarketBeat.com reports. The brokerage set an “overweight” rating and a price target of $30.00 on the stock. Barclays’ target price indicates a potential upside of 27.33% from the company’s current price.

A number of other analysts have also recently released reports on the company. Canaccord Genuity Group reissued a “buy” rating and set a price target of $60.00 on shares of Bicycle Therapeutics in a Wednesday, July 6 research report. TheStreet downgraded Bicycle Therapeutics from a “c-” rating to a “d+” rating in a Thursday, April 21 research report. Cantor Fitzgerald assumed coverage for Bicycle Therapeutics in a research report on Thursday, April 7. They set an “overweight” rating and a price target of $80.00 for the company. Needham & Company LLC reduced its price target on Bicycle Therapeutics from $85.00 to $75.00 and set a “buy” rating for the company in a Tuesday, April 12 research report. Finally, Piper Sandler reduced her price target on Bicycle Therapeutics from $76.00 to $37.00 and set an “overweight” rating for the company in a Monday, May 23 research report. Two investment analysts gave the stock a hold rating and eleven gave the company a buy rating. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $59.23.

Bicycle Therapeutics Stock up 1.1%

BCYC shares opened at $23.56 on Thursday. Bicycle Therapeutics has a 52-week low of $12.08 and a 52-week high of $62.08. The company has a market capitalization of $698.53 million, a PE ratio of -8.15 and a beta of 0.53. The stock has a fifty-day simple moving average of $17.62 and a two-hundred-day simple moving average of $30.94. The company has a quick ratio of 12.14, a current ratio of 12.14 and a leverage ratio of 0.09.

Bicycle Therapeutics (NASDAQ: BCYC – Get Rating) last reported results on Thursday, May 5. The company reported ($0.93) earnings per share (EPS) for the quarter, missing analyst consensus estimates of ($0.70) by ($0.23). Bicycle Therapeutics had a negative return on equity of 31.61% and a negative net margin of 568.71%. The company posted revenue of $3.86 million in the quarter, versus analyst estimates of $3.46 million. As a group, stock analysts expect Bicycle Therapeutics to post -3.51 EPS for the current year.

Hedge funds weigh on Bicycle Therapeutics

Hedge funds and other institutional investors have recently changed their positions in the stock. Prospera Financial Services Inc bought a new position in shares of Bicycle Therapeutics in Q1 worth approximately $88,000. Difesa Capital Management LP acquired a new stake in Bicycle Therapeutics during the fourth quarter worth approximately $213,000. Claro Advisors LLC acquired a new stake in Bicycle Therapeutics during the fourth quarter valued at approximately $221,000. Tekla Capital Management LLC increased its stake in Bicycle Therapeutics by 98.9% during the second quarter. Tekla Capital Management LLC now owns 20,065 shares of the company worth $337,000 after purchasing an additional 9,979 shares in the last quarter. Finally, Engineers Gate Manager LP acquired a new stake in Bicycle Therapeutics during the first quarter worth approximately $341,000. Hedge funds and other institutional investors hold 71.99% of the company’s shares.

About Bicycle Therapeutics

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Bicycle Therapeutics plc, a clinical-stage biopharmaceutical company, is developing a class of drugs for diseases underserved by existing therapeutics. Its lead product candidate is BT1718, a bicycle toxin (BTC) conjugate, which is in Phase I/IIa clinical trials targeting tumors that express membrane matrix metalloprotease type 1.

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