Bicycle Therapeutics (NASDAQ:BCYC) Reaches New 12-Month High – Here’s What Happened

Bicycle Therapeutics plc (NASDAQ:BCYC)’s share price hit a new 52-week high on Wednesday . The stock traded as high as $28.67 and last traded at $27.86, with a volume of 239485 shares traded. The stock had previously closed at $27.09.

Analyst Ratings Changes

A number of research firms have commented on BCYC. Royal Bank of Canada initiated coverage on Bicycle Therapeutics in a research report on Friday, September 6th. They issued an “outperform” rating and a $35.00 target price on the stock. B. Riley lowered shares of Bicycle Therapeutics from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $33.00 to $28.00 in a report on Wednesday, August 7th. HC Wainwright reaffirmed a “buy” rating and set a $55.00 target price on shares of Bicycle Therapeutics in a research note on Monday, September 16th. Needham & Company LLC reiterated a “buy” rating and set a $38.00 price target on shares of Bicycle Therapeutics in a research report on Monday, September 16th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $32.00 price objective on shares of Bicycle Therapeutics in a research report on Monday, September 16th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Bicycle Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $44.56.

Bicycle Therapeutics Trading Up 1.1 %

The company’s 50 day simple moving average is $23.68 and its 200 day simple moving average is $22.96. The company has a debt-to-equity ratio of 0.01, a current ratio of 14.77 and a quick ratio of 14.77. The firm has a market cap of $1.16 billion, a price-to-earnings ratio of -6.01 and a beta of 0.89.

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

Insider Activity at Bicycle Therapeutics

In other Bicycle Therapeutics news, CEO Kevin Lee sold 3,212 shares of the business’s stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $22.26, for a total transaction of $71,499.12. Following the completion of the transaction, the chief executive officer now owns 380,864 shares in the company, valued at $8,478,032.64. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold a total of 4,584 shares of company stock valued at $102,040 over the last 90 days. 8.50% of the stock is owned by corporate insiders.

Institutional Trading of Bicycle Therapeutics

A number of institutional investors have recently bought and sold shares of BCYC. PNC Financial Services Group Inc. acquired a new stake in shares of Bicycle Therapeutics during the 4th quarter worth about $137,000. PDS Planning Inc purchased a new stake in shares of Bicycle Therapeutics during the 1st quarter worth approximately $210,000. Concurrent Investment Advisors LLC purchased a new stake in shares of Bicycle Therapeutics during the 1st quarter worth approximately $543,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in shares of Bicycle Therapeutics by 12.8% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 883,105 shares of the company’s stock valued at $21,989,000 after buying an additional 100,107 shares in the last quarter. Finally, Westfield Capital Management Co. LP grew its position in shares of Bicycle Therapeutics by 13.3% in the 1st quarter. Westfield Capital Management Co. LP now owns 1,038,917 shares of the company’s stock valued at $25,869,000 after buying an additional 121,613 shares during the last quarter. 86.15% of the stock is owned by hedge funds and other institutional investors.

About Bicycle Therapeutics

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.