Bicycle Therapeutics (NASDAQ:BCYC) Trading Up 6.3%

Shares of Bicycle Therapeutics plc (NASDAQ:BCYC) rose 6.3% during mid-day trading on Wednesday . The stock traded as high as $25.94 and last traded at $25.94. Approximately 9,617 shares changed hands during trading, a decline of 97% from the average daily volume of 333,060 shares. The stock had previously closed at $24.41.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. HC Wainwright reiterated a “buy” rating and set a $55.00 target price on shares of Bicycle Therapeutics in a research report on Monday. B. Riley cut Bicycle Therapeutics from a “buy” rating to a “neutral” rating and decreased their target price for the company from $33.00 to $28.00 in a research note on Wednesday, August 7th. Cantor Fitzgerald restated an “overweight” rating on shares of Bicycle Therapeutics in a report on Monday, September 9th. Oppenheimer restated an “outperform” rating and issued a $48.00 target price on shares of Bicycle Therapeutics in a research note on Wednesday, August 7th. Finally, 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. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $44.56.

Bicycle Therapeutics Price Performance

The firm has a market cap of $1.06 billion, a P/E ratio of -5.83 and a beta of 0.90. 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 business’s 50 day moving average is $23.24 and its two-hundred day moving average is $22.99.

Bicycle Therapeutics (NASDAQ:BCYC) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($0.77) earnings per share 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 analyst estimates of $6.13 million. Bicycle Therapeutics had a negative return on equity of 32.80% and a negative net margin of 417.88%. The firm’s revenue for the quarter was down 17.9% on a year-over-year basis. As a group, analysts anticipate that Bicycle Therapeutics plc will post -3.17 earnings per share for the current year.

Insider Activity at Bicycle Therapeutics

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

Hedge Funds Weigh In On Bicycle Therapeutics

Several large investors have recently added to or reduced their stakes in BCYC. PNC Financial Services Group Inc. bought a new position in Bicycle Therapeutics during the 4th quarter valued at $137,000. China Universal Asset Management Co. Ltd. raised its holdings in shares of Bicycle Therapeutics by 71.4% in the first 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. XTX Topco Ltd bought a new position in shares of Bicycle Therapeutics during the second quarter valued at about $206,000. PDS Planning Inc purchased a new position in Bicycle Therapeutics during the first quarter worth about $210,000. Finally, Natixis Advisors LLC bought a new stake in Bicycle Therapeutics in the 2nd quarter worth about $261,000. Institutional investors 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.