Bicycle Therapeutics (NASDAQ:BCYC) Trading 6.2% Higher

Shares of Bicycle Therapeutics plc (NASDAQ:BCYC) were up 6.2% on Monday . The stock traded as high as $22.30 and last traded at $21.81. Approximately 63,063 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 321,619 shares. The stock had previously closed at $20.54.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Royal Bank of Canada started coverage on Bicycle Therapeutics in a research note on Friday, September 6th. They issued an “outperform” rating and a $35.00 price objective on the stock. Cantor Fitzgerald restated an “overweight” rating on shares of Bicycle Therapeutics in a research report on Monday. Needham & Company LLC reiterated a “buy” rating and set a $38.00 price objective on shares of Bicycle Therapeutics in a research report on Monday. Oppenheimer restated an “outperform” rating and issued a $48.00 target price on shares of Bicycle Therapeutics in a report on Wednesday, August 7th. Finally, B. Riley downgraded Bicycle Therapeutics from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $33.00 to $28.00 in a report on Wednesday, August 7th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $44.56.

Bicycle Therapeutics Stock Performance

The company has a quick ratio of 14.77, a current ratio of 14.77 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $1.28 billion, a P/E ratio of -6.07 and a beta of 0.90. The company’s 50 day moving average is $22.48 and its 200-day moving average is $22.96.

Bicycle Therapeutics (NASDAQ:BCYC) last released its quarterly earnings data on Tuesday, August 6th. The company reported ($0.77) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.10) by $0.33. Bicycle Therapeutics had a negative net margin of 417.88% and a negative return on equity of 32.80%. The company had revenue of $9.36 million for the quarter, compared to analysts’ expectations of $6.13 million. The business’s revenue for the quarter was down 17.9% compared to the same quarter last year. As a group, equities analysts anticipate that Bicycle Therapeutics plc will post -3.17 EPS for the current year.

Insider Buying and Selling at Bicycle Therapeutics

In other news, CEO Kevin Lee sold 3,194 shares of the company’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $19.64, for a total transaction of $62,730.16. Following the transaction, the chief executive officer now directly owns 384,076 shares of the company’s stock, valued at $7,543,252.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders sold 4,555 shares of company stock valued at $89,460. Company insiders own 8.50% of the company’s stock.

Institutional Investors Weigh In On Bicycle Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in BCYC. China Universal Asset Management Co. Ltd. boosted its stake in Bicycle Therapeutics by 71.4% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 6,859 shares of the company’s stock valued at $171,000 after purchasing an additional 2,858 shares during the last quarter. Woodstock Corp lifted its holdings in shares of Bicycle Therapeutics by 16.3% in the first quarter. Woodstock Corp now owns 24,981 shares of the company’s stock valued at $622,000 after purchasing an additional 3,502 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in shares of Bicycle Therapeutics by 0.6% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 888,081 shares of the company’s stock valued at $17,975,000 after buying an additional 4,976 shares during the last quarter. PNC Financial Services Group Inc. bought a new stake in Bicycle Therapeutics during the fourth quarter worth $137,000. Finally, L & S Advisors Inc raised its position in Bicycle Therapeutics by 16.1% in the 2nd quarter. L & S Advisors Inc now owns 58,335 shares of the company’s stock valued at $1,181,000 after buying an additional 8,075 shares during the last quarter. Institutional investors and hedge funds own 86.15% of the company’s stock.

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.