Bicycle Therapeutics plc (NASDAQ:BCYC) Receives $46.86 Average PT from Brokerages

Shares of Bicycle Therapeutics plc (NASDAQ:BCYC) have been given a consensus recommendation of “Moderate Buy” by the seven ratings firms that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $46.86.

A number of analysts recently issued reports on BCYC shares. HC Wainwright reissued a “buy” rating and issued a $55.00 target price on shares of Bicycle Therapeutics in a research report on Friday, May 3rd. Needham & Company LLC reissued a “buy” rating and issued a $43.00 target price on shares of Bicycle Therapeutics in a research report on Wednesday, April 10th.

Bicycle Therapeutics Trading Down 0.1 %

NASDAQ:BCYC opened at $20.24 on Monday. The stock has a 50-day simple moving average of $22.46 and a 200-day simple moving average of $21.57. The stock has a market cap of $865.87 million, a P/E ratio of -4.55 and a beta of 0.88. Bicycle Therapeutics has a 1 year low of $12.54 and a 1 year high of $27.50. The company has a debt-to-equity ratio of 0.09, a quick ratio of 10.42 and a current ratio of 10.42.

Bicycle Therapeutics (NASDAQ:BCYC) last released its quarterly earnings data on Thursday, May 2nd. The company reported ($0.62) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.25) by $0.63. The business had revenue of $19.53 million during the quarter, compared to analysts’ expectations of $6.06 million. Bicycle Therapeutics had a negative return on equity of 49.35% and a negative net margin of 404.14%. The firm’s quarterly revenue was up 298.9% on a year-over-year basis. As a group, analysts anticipate that Bicycle Therapeutics will post -4.44 earnings per share for the current fiscal year.

Insider Buying and Selling at Bicycle Therapeutics

In other Bicycle Therapeutics news, CEO Kevin Lee sold 3,158 shares of the company’s stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $23.81, for a total transaction of $75,191.98. Following the completion of the sale, the chief executive officer now directly owns 387,270 shares of the company’s stock, valued at approximately $9,220,898.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 5,312 shares of company stock valued at $126,139 in the last ninety days. Insiders own 8.50% of the company’s stock.

Institutional Trading of Bicycle Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Deutsche Bank AG raised its stake in shares of Bicycle Therapeutics by 1,051.4% during the 3rd quarter. Deutsche Bank AG now owns 96,370 shares of the company’s stock worth $1,936,000 after buying an additional 88,000 shares in the last quarter. Trexquant Investment LP purchased a new position in shares of Bicycle Therapeutics during the 3rd quarter worth approximately $1,421,000. Deerfield Management Company L.P. Series C purchased a new position in shares of Bicycle Therapeutics during the 3rd quarter worth approximately $9,015,000. Braidwell LP purchased a new position in shares of Bicycle Therapeutics during the 3rd quarter worth approximately $25,914,000. Finally, Armistice Capital LLC raised its stake in shares of Bicycle Therapeutics by 14.2% during the 3rd quarter. Armistice Capital LLC now owns 1,000,000 shares of the company’s stock worth $20,090,000 after buying an additional 124,000 shares in the last quarter. 86.15% of the stock is owned by hedge funds and other institutional investors.

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.