Bicycle Therapeutics (NASDAQ:BCYC) Shares Up 8.7% – Should You Buy?

Bicycle Therapeutics plc (NASDAQ:BCYC)’s share price rose 8.7% during trading on Monday . The stock traded as high as $15.04 and last traded at $15.01. Approximately 447,212 shares changed hands during trading, an increase of 16% from the average daily volume of 387,183 shares. The stock had previously closed at $13.81.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on BCYC shares. B. Riley lowered their target price on Bicycle Therapeutics from $28.00 to $17.00 and set a “neutral” rating for the company in a report on Friday. JMP Securities reiterated a “market outperform” rating and issued a $32.00 price objective on shares of Bicycle Therapeutics in a research note on Monday, September 16th. Stephens assumed coverage on shares of Bicycle Therapeutics in a research report on Friday, November 8th. They set an “equal weight” rating and a $25.00 target price on the stock. HC Wainwright reduced their price target on shares of Bicycle Therapeutics from $55.00 to $33.00 and set a “buy” rating for the company in a report on Monday. Finally, Needham & Company LLC reiterated a “buy” rating and set a $38.00 price objective on shares of Bicycle Therapeutics in a report on Thursday, October 31st. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Bicycle Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $36.00.

Bicycle Therapeutics Stock Up 9.5 %

The stock has a market capitalization of $1.04 billion, a P/E ratio of -4.56 and a beta of 0.86. The business’s 50 day simple moving average is $22.78 and its two-hundred day simple moving average is $22.76.

Bicycle Therapeutics (NASDAQ:BCYC) last announced its quarterly earnings results on Thursday, October 31st. The company reported ($0.74) earnings per share for the quarter, beating the consensus estimate of ($0.78) by $0.04. The business had revenue of $2.68 million for the quarter, compared to analysts’ expectations of $6.82 million. Bicycle Therapeutics had a negative net margin of 450.64% and a negative return on equity of 27.35%. The firm’s revenue for the quarter was down 50.0% compared to the same quarter last year. During the same quarter last year, the firm earned ($1.26) EPS. Analysts predict that Bicycle Therapeutics plc will post -3.05 earnings per share for the current year.

Insider Activity at Bicycle Therapeutics

In other Bicycle Therapeutics news, CEO Kevin Lee sold 3,212 shares of Bicycle Therapeutics 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 transaction, the chief executive officer now owns 380,864 shares of the company’s stock, valued at $8,478,032.64. This trade represents a 0.84 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Travis Alvin Thompson sold 6,256 shares of the company’s stock in a transaction that occurred 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 transaction, the chief accounting officer now directly owns 19,241 shares of the company’s stock, valued at approximately $483,141.51. This represents a 24.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,840 shares of company stock valued at $259,128 over the last 90 days. Insiders own 8.50% of the company’s stock.

Hedge Funds Weigh In On Bicycle Therapeutics

Institutional investors have recently bought and sold shares of the company. Point72 Asset Management L.P. boosted its holdings in shares of Bicycle Therapeutics by 1,438.1% in the third quarter. Point72 Asset Management L.P. now owns 899,799 shares of the company’s stock worth $20,362,000 after acquiring an additional 841,299 shares during the period. Avoro Capital Advisors LLC purchased a new position in Bicycle Therapeutics during the 2nd quarter valued at about $14,168,000. Perceptive Advisors LLC purchased a new position in Bicycle Therapeutics during the 2nd quarter valued at about $11,577,000. Principal Financial Group Inc. bought a new stake in shares of Bicycle Therapeutics during the third quarter valued at about $10,028,000. Finally, Westfield Capital Management Co. LP lifted its holdings in shares of Bicycle Therapeutics by 21.5% in the third quarter. Westfield Capital Management Co. LP now owns 1,850,945 shares of the company’s stock worth $41,887,000 after buying an additional 327,089 shares in the last quarter. Hedge funds and other 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.