Bicycle Therapeutics (NASDAQ:BCYC) Trading Down 3%

Bicycle Therapeutics plc (NASDAQ:BCYC) fell 3% on Tuesday . The stock traded as low as $23.20 and last traded at $23.24. 43,271 shares traded hands during mid-day trading, a decline of 87% from the average session volume of 336,705 shares. The stock had previously closed at $23.97.

Wall Street Analysts Forecast Growth

Several research firms recently commented on BCYC. Needham & Company LLC reiterated a “buy” rating and set a $38.00 target price on shares of Bicycle Therapeutics in a research report on Monday, September 16th. B. Riley cut Bicycle Therapeutics from a “buy” rating to a “neutral” rating and cut their target price for the company from $33.00 to $28.00 in a research report on Wednesday, August 7th. Royal Bank of Canada initiated coverage on shares of Bicycle Therapeutics in a research report on Friday, September 6th. They set an “outperform” rating and a $35.00 target price for the company. JMP Securities restated a “market outperform” rating and set a $32.00 price target on shares of Bicycle Therapeutics in a research report on Monday, September 16th. Finally, Oppenheimer reissued an “outperform” rating and set a $48.00 price target on shares of Bicycle Therapeutics in a research report on Wednesday, August 7th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $44.56.

Bicycle Therapeutics Stock Down 0.3 %

The company has a 50-day simple moving average of $23.46 and a 200 day simple moving average of $22.99. The company has a market cap of $1.02 billion, a P/E ratio of -5.39 and a beta of 0.90. The company has a current ratio of 14.77, a quick ratio of 14.77 and a debt-to-equity ratio of 0.01.

Bicycle Therapeutics (NASDAQ:BCYC) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.77) EPS for the quarter, beating the consensus estimate of ($1.10) by $0.33. The company had revenue of $9.36 million for 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%. Bicycle Therapeutics’s revenue was down 17.9% on a year-over-year basis. On average, equities analysts anticipate that Bicycle Therapeutics plc will post -3.17 EPS for the current year.

Insider Activity

In related news, CEO Kevin Lee sold 3,194 shares of the firm’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was 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 approximately $7,543,252.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last quarter, insiders sold 4,555 shares of company stock valued at $89,460. 8.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Bicycle Therapeutics

Hedge funds have recently bought and sold shares of the stock. PNC Financial Services Group Inc. purchased a new stake in Bicycle Therapeutics during the fourth quarter valued at about $137,000. China Universal Asset Management Co. Ltd. grew 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. XTX Topco Ltd bought a new position in shares of Bicycle Therapeutics during the second quarter valued at approximately $206,000. PDS Planning Inc bought a new position in shares of Bicycle Therapeutics during the first quarter valued at approximately $210,000. Finally, Natixis Advisors LLC bought a new position in shares of Bicycle Therapeutics in the second quarter worth $261,000. 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.