Bicycle Therapeutics (NASDAQ:BCYC) Announces Earnings Results, Misses Estimates By $0.25 EPS

Key Points

• Missed estimates: Bicycle Therapeutics reported Q1 EPS of ($0.87), missing the consensus by $0.25, and revenue of $0.89M versus estimates of $7.50M, producing a steep negative net margin of 301.66%.
• Shares traded down 0.2% to $4.72 (market cap ~$329M) as analysts trimmed price targets; the stock holds a consensus "Hold" rating with a $14.11 target.
• CEO Kevin Lee sold 5,967 shares to cover taxes (avg $4.91); insiders own 22.9% of shares while institutional investors control 86.15%.

Bicycle Therapeutics (NASDAQ:BCYC - Get Free Report) announced its quarterly earnings data on Thursday. The company reported ($0.87) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.62) by ($0.25), FiscalAI reports. Bicycle Therapeutics had a negative net margin of 301.66% and a negative return on equity of 33.21%. The firm had revenue of $0.89 million for the quarter, compared to analyst estimates of $7.50 million.

Bicycle Therapeutics Stock Down 0.2%

NASDAQ BCYC traded down $0.01 during trading hours on Thursday, hitting $4.72. The company had a trading volume of 615,153 shares, compared to its average volume of 371,010. The firm has a market cap of $329.03 million, a P/E ratio of -1.49 and a beta of 1.65. Bicycle Therapeutics has a fifty-two week low of $4.24 and a fifty-two week high of $9.55. The business has a fifty day simple moving average of $5.02 and a 200-day simple moving average of $6.22.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on BCYC. Wall Street Zen upgraded Bicycle Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, March 21st. Citizens Jmp decreased their price objective on shares of Bicycle Therapeutics from $12.00 to $8.00 and set a "market outperform" rating for the company in a report on Wednesday, March 18th. Morgan Stanley lowered their target price on shares of Bicycle Therapeutics from $13.00 to $12.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 8th. Royal Bank Of Canada reduced their price target on shares of Bicycle Therapeutics from $11.00 to $7.00 and set a "sector perform" rating on the stock in a research report on Wednesday, March 18th. Finally, Oppenheimer decreased their price target on shares of Bicycle Therapeutics from $44.00 to $36.00 and set an "outperform" rating for the company in a report on Wednesday, March 18th. Six equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $14.11.

Insider Activity at Bicycle Therapeutics

In other news, CEO Kevin Lee sold 5,967 shares of the company's stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $4.91, for a total transaction of $29,297.97. Following the completion of the transaction, the chief executive officer owned 613,029 shares in the company, valued at approximately $3,009,972.39. This represents a 0.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 9,992 shares of company stock worth $49,363 in the last three months. 22.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Armistice Capital LLC raised its holdings in shares of Bicycle Therapeutics by 6.4% during the third quarter. Armistice Capital LLC now owns 2,978,000 shares of the company's stock valued at $23,050,000 after buying an additional 178,000 shares during the last quarter. GSK plc bought a new position in Bicycle Therapeutics in the 4th quarter worth approximately $10,829,000. Bank of America Corp DE increased its position in Bicycle Therapeutics by 47.4% in the 2nd quarter. Bank of America Corp DE now owns 830,634 shares of the company's stock valued at $5,773,000 after acquiring an additional 267,075 shares during the period. Schroder Investment Management Group bought a new stake in Bicycle Therapeutics during the 4th quarter valued at $3,976,000. Finally, Renaissance Technologies LLC raised its stake in Bicycle Therapeutics by 9.2% during the 4th quarter. Renaissance Technologies LLC now owns 566,600 shares of the company's stock valued at $4,012,000 after acquiring an additional 47,900 shares in the last quarter. Institutional investors own 86.15% of the company's stock.

Bicycle Therapeutics Company Profile

Bicycle Therapeutics plc is a clinical-stage biotechnology company specializing in the discovery and development of novel peptide therapeutics based on its proprietary bicyclic peptide platform. The company's core technology leverages constrained peptide structures that combine the binding specificity of biologics with the favorable tissue-penetration properties of small molecules. This approach is designed to generate highly selective drug candidates with potential applications across a range of therapeutic areas, including oncology, neuroscience and immunology.

Bicycle Therapeutics maintains a diversified pipeline of internally developed programs as well as collaborations with leading pharmaceutical partners.

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