Bicycle Therapeutics (NASDAQ:BCYC) Shares Gap Up - Here's Why

Bicycle Therapeutics PLC Sponsored ADR (NASDAQ:BCYC - Get Free Report)'s stock price gapped up before the market opened on Friday . The stock had previously closed at $7.41, but opened at $7.72. Bicycle Therapeutics shares last traded at $7.43, with a volume of 49,233 shares.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on BCYC shares. JMP Securities lowered their price target on Bicycle Therapeutics from $26.00 to $22.00 and set a "market outperform" rating for the company in a report on Friday, May 2nd. Morgan Stanley set a $17.00 price objective on shares of Bicycle Therapeutics and gave the stock an "equal weight" rating in a report on Monday, May 5th. Barclays lowered their target price on shares of Bicycle Therapeutics from $40.00 to $15.00 and set an "overweight" rating for the company in a research note on Thursday, May 1st. Needham & Company LLC restated a "buy" rating and issued a $29.00 price target on shares of Bicycle Therapeutics in a research report on Friday, May 2nd. Finally, Royal Bank Of Canada lowered their price objective on shares of Bicycle Therapeutics from $35.00 to $32.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $25.00.

Bicycle Therapeutics Trading Down 2.6%

The company's 50-day moving average price is $8.20 and its two-hundred day moving average price is $10.78. The company has a market cap of $500.71 million, a P/E ratio of -2.30 and a beta of 1.46.

Bicycle Therapeutics (NASDAQ:BCYC - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported ($0.88) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.86) by ($0.02). Bicycle Therapeutics had a negative return on equity of 25.54% and a negative net margin of 790.07%. The business had revenue of $9.98 million during the quarter, compared to analyst estimates of $8.67 million. Equities analysts forecast that Bicycle Therapeutics PLC Sponsored ADR will post -3.06 earnings per share for the current year.

Institutional Trading of Bicycle Therapeutics

A number of institutional investors have recently bought and sold shares of the company. Barclays PLC increased its stake in shares of Bicycle Therapeutics by 878.3% during the 4th quarter. Barclays PLC now owns 2,612 shares of the company's stock worth $37,000 after purchasing an additional 2,345 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Bicycle Therapeutics by 879.5% in the first quarter. GAMMA Investing LLC now owns 8,982 shares of the company's stock worth $76,000 after purchasing an additional 8,065 shares in the last quarter. Exchange Traded Concepts LLC increased its position in Bicycle Therapeutics by 90.3% during the first quarter. Exchange Traded Concepts LLC now owns 12,764 shares of the company's stock worth $108,000 after buying an additional 6,057 shares during the last quarter. Cerity Partners LLC bought a new position in Bicycle Therapeutics during the first quarter valued at about $113,000. Finally, Portland Investment Counsel Inc. acquired a new stake in shares of Bicycle Therapeutics in the first quarter worth about $127,000. Institutional investors and hedge funds own 86.15% of the company's stock.

About Bicycle Therapeutics

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.