I was in Oregon last week and we watched Goonies. It strongly reminded me of ET. This makes sense as Speilberg was involved in Goonies.
We got to talking about the specific sub-genre of movies that is “Kids on Bikes Getting into Trouble”.
Bikes give the kids the ability to travel without parental supervision. This means their parents don’t have to be dead or gone like in a Disney film, and the kids can still be the center of the story.