Bicycle Therapeutics (NASDAQ:BCYC) Stock Price Up 3.5% – Here’s Why

Bicycle Therapeutics plc (NASDAQ:BCYC) was up 3.5% on Wednesday . The company traded as high as $24.45 and last traded at $24.35. Approximately 54,924 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 340,458 shares. The stock had previously closed at $23.53.

Wall Street Analysts Forecast Growth

BCYC has been the topic of a number of analyst reports. Cantor Fitzgerald reiterated an “overweight” rating on shares of Bicycle Therapeutics in a research note on Monday, September 9th. B. Riley lowered shares of Bicycle Therapeutics from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $33.00 to $28.00 in a report on Wednesday, August 7th. Oppenheimer reissued an “outperform” rating and issued a $48.00 price objective on shares of Bicycle Therapeutics in a research report on Wednesday, August 7th. Royal Bank of Canada assumed coverage on Bicycle Therapeutics in a research report on Friday, September 6th. They set an “outperform” rating and a $35.00 target price on the stock. Finally, Needham & Company LLC reissued a “buy” rating and issued a $38.00 price target on shares of Bicycle Therapeutics in a report on Monday, September 16th. 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 data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $44.56.

Bicycle Therapeutics Stock Up 5.2 %

The company has a debt-to-equity ratio of 0.01, a quick ratio of 14.77 and a current ratio of 14.77. The firm has a market capitalization of $1.06 billion, a P/E ratio of -5.62 and a beta of 0.89. The stock has a fifty day moving average price of $23.34 and a two-hundred day moving average price of $22.87.

Bicycle Therapeutics (NASDAQ:BCYC) last released its earnings results on Tuesday, August 6th. The company reported ($0.77) earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $9.36 million during the quarter, compared to analyst estimates of $6.13 million. The business’s revenue was down 17.9% on a year-over-year basis. Research analysts forecast that Bicycle Therapeutics plc will post -3.17 EPS for the current year.

Insiders Place Their Bets

In other Bicycle Therapeutics news, CEO Kevin Lee sold 3,212 shares of the stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $22.26, for a total value of $71,499.12. Following the sale, the chief executive officer now directly owns 380,864 shares of the company’s stock, valued at $8,478,032.64. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold 4,584 shares of company stock valued at $102,040 over the last quarter. Insiders own 8.50% of the company’s stock.

Institutional Trading of Bicycle Therapeutics

Several large investors have recently added to or reduced their stakes in BCYC. GAMMA Investing LLC grew its stake in shares of Bicycle Therapeutics by 105.1% in the 3rd quarter. GAMMA Investing LLC now owns 2,026 shares of the company’s stock worth $46,000 after purchasing an additional 1,038 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Bicycle Therapeutics by 71.4% during 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. PNC Financial Services Group Inc. purchased a new stake in shares of Bicycle Therapeutics during the fourth quarter valued at $137,000. PDS Planning Inc acquired a new position in shares of Bicycle Therapeutics in the 1st quarter valued at $210,000. Finally, XTX Topco Ltd purchased a new position in Bicycle Therapeutics in the 2nd quarter worth about $206,000. 86.15% of the stock is currently owned by institutional investors and hedge funds.

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.