Bicycle Therapeutics (NASDAQ:BCYC) Stock Price Up 6.3%

Bicycle Therapeutics plc (NASDAQ:BCYC) shares rose 6.3% during trading on Wednesday . The company traded as high as $25.94 and last traded at $25.94. Approximately 9,617 shares were traded 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 brokerages recently commented on BCYC. B. Riley lowered Bicycle Therapeutics from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $33.00 to $28.00 in a report on Wednesday, August 7th. HC Wainwright reissued a “buy” rating and issued a $55.00 price target on shares of Bicycle Therapeutics in a report on Monday. JMP Securities restated a “market outperform” rating and set a $32.00 price objective on shares of Bicycle Therapeutics in a report on Monday. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Bicycle Therapeutics in a research report on Monday, September 9th. Finally, Oppenheimer restated an “outperform” rating and set a $48.00 price target on shares of Bicycle Therapeutics in a research note on Wednesday, August 7th. Two equities research 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 presently has an average rating of “Moderate Buy” and a consensus price target of $44.56.

Bicycle Therapeutics Price Performance

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

Bicycle Therapeutics (NASDAQ:BCYC) last issued its earnings results on Tuesday, August 6th. The company reported ($0.77) earnings per share (EPS) for the quarter, beating 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 business had revenue of $9.36 million for the quarter, compared to analysts’ expectations of $6.13 million. The business’s revenue was down 17.9% compared to the same quarter last year. On average, research analysts expect that Bicycle Therapeutics plc will post -3.17 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Kevin Lee sold 3,194 shares of the stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $19.64, for a total value of $62,730.16. Following the sale, 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 SEC, which is available at this link. In the last quarter, insiders have sold 4,555 shares of company stock valued at $89,460. Corporate insiders own 8.50% of the company’s stock.

Hedge Funds Weigh In On Bicycle Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets grew its stake in Bicycle Therapeutics by 10,489.4% in the 4th quarter. BNP Paribas Financial Markets now owns 36,851 shares of the company’s stock worth $666,000 after buying an additional 36,503 shares in the last quarter. Trexquant Investment LP lifted its holdings in shares of Bicycle Therapeutics by 177.6% during the 4th quarter. Trexquant Investment LP now owns 196,323 shares of the company’s stock worth $3,550,000 after acquiring an additional 125,604 shares during the last quarter. Westfield Capital Management Co. LP purchased a new position in Bicycle Therapeutics in the fourth quarter worth $16,585,000. Armistice Capital LLC increased its stake in Bicycle Therapeutics by 53.6% in the fourth quarter. Armistice Capital LLC now owns 1,536,000 shares of the company’s stock valued at $27,771,000 after acquiring an additional 536,000 shares during the last quarter. Finally, Platinum Investment Management Ltd. raised its position in Bicycle Therapeutics by 26.8% during the fourth quarter. Platinum Investment Management Ltd. now owns 362,080 shares of the company’s stock valued at $6,546,000 after purchasing an additional 76,601 shares in the last quarter. 86.15% of the stock is currently 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.