Bicycle Therapeutics (NASDAQ:BCYC) Shares Gap Up – Still a Buy?

Bicycle Therapeutics plc (NASDAQ:BCYC) shares gapped up prior to trading on Monday . The stock had previously closed at $13.31, but opened at $13.74. Bicycle Therapeutics shares last traded at $13.79, with a volume of 70,695 shares trading hands.

Wall Street Analyst Weigh In

A number of analysts have weighed in on BCYC shares. Royal Bank of Canada reissued an “outperform” rating and set a $35.00 price objective on shares of Bicycle Therapeutics in a report on Friday, November 1st. Needham & Company LLC reissued a “buy” rating and issued a $32.00 price target on shares of Bicycle Therapeutics in a research report on Monday. B. Riley dropped their price objective on Bicycle Therapeutics from $28.00 to $17.00 and set a “neutral” rating on the stock in a report on Friday, December 13th. HC Wainwright reissued a “buy” rating and issued a $33.00 target price on shares of Bicycle Therapeutics in a report on Monday. Finally, Stephens assumed coverage on Bicycle Therapeutics in a research note on Friday, November 8th. They set an “equal weight” rating and a $25.00 price target on the stock. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.50.

Bicycle Therapeutics Trading Up 10.7 %

The company has a market capitalization of $1.02 billion, a price-to-earnings ratio of -4.48 and a beta of 0.92. The firm’s 50 day simple moving average is $18.52 and its 200-day simple moving average is $21.69.

Bicycle Therapeutics (NASDAQ:BCYC) last posted its quarterly earnings results on Thursday, October 31st. The company reported ($0.74) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.78) by $0.04. Bicycle Therapeutics had a negative net margin of 450.64% and a negative return on equity of 27.35%. The firm had revenue of $2.68 million during the quarter, compared to analysts’ expectations of $6.82 million. During the same period in the prior year, the company posted ($1.26) earnings per share. The firm’s revenue for the quarter was down 50.0% on a year-over-year basis. As a group, sell-side analysts forecast that Bicycle Therapeutics plc will post -3.05 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Bros. Advisors Lp Baker acquired 985,397 shares of Bicycle Therapeutics stock in a transaction that occurred on Friday, December 13th. The stock was purchased at an average cost of $13.76 per share, with a total value of $13,559,062.72. Following the completion of the acquisition, the director now owns 9,537,643 shares in the company, valued at $131,237,967.68. This trade represents a 11.52 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Travis Alvin Thompson sold 6,256 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $25.11, for a total value of $157,088.16. Following the completion of the sale, the chief accounting officer now directly owns 19,241 shares in the company, valued at $483,141.51. This trade represents a 24.54 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 33,933 shares of company stock valued at $549,501. Corporate insiders own 8.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of BCYC. FMR LLC purchased a new stake in Bicycle Therapeutics in the 3rd quarter valued at approximately $3,406,000. The Manufacturers Life Insurance Company raised its holdings in shares of Bicycle Therapeutics by 33.2% in the third quarter. The Manufacturers Life Insurance Company now owns 129,705 shares of the company’s stock worth $2,935,000 after acquiring an additional 32,313 shares during the last quarter. Principal Financial Group Inc. purchased a new stake in shares of Bicycle Therapeutics in the third quarter valued at $10,028,000. State Street Corp boosted its stake in shares of Bicycle Therapeutics by 233.5% during the third quarter. State Street Corp now owns 86,271 shares of the company’s stock valued at $1,952,000 after acquiring an additional 60,399 shares during the last quarter. Finally, Perceptive Advisors LLC purchased a new stake in Bicycle Therapeutics during the 2nd quarter worth about $11,577,000. 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.