Bicycle Therapeutics (NASDAQ:BCYC) Trading 5.5% Higher - What's Next?

Bicycle Therapeutics plc (NASDAQ:BCYC - Get Free Report)'s share price shot up 5.5% during trading on Wednesday . The stock traded as high as $9.10 and last traded at $9.12. 193,506 shares changed hands during trading, a decline of 50% from the average session volume of 389,275 shares. The stock had previously closed at $8.64.

Analysts Set New Price Targets

Several brokerages have recently commented on BCYC. JMP Securities reduced their target price on shares of Bicycle Therapeutics from $26.00 to $22.00 and set a "market outperform" rating on the stock in a research note on Friday, May 2nd. Needham & Company LLC restated a "buy" rating and issued a $29.00 target price on shares of Bicycle Therapeutics in a research report on Friday, May 2nd. Morgan Stanley set a $17.00 price objective on Bicycle Therapeutics and gave the company an "equal weight" rating in a research note on Monday, May 5th. B. Riley decreased their target price on Bicycle Therapeutics from $17.00 to $14.00 and set a "neutral" rating for the company in a research report on Friday, May 2nd. Finally, HC Wainwright reiterated a "buy" rating and issued a $33.00 target price on shares of Bicycle Therapeutics in a research report on Wednesday, February 26th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, Bicycle Therapeutics presently has a consensus rating of "Moderate Buy" and a consensus target price of $25.00.

Bicycle Therapeutics Price Performance

The company has a 50-day moving average price of $8.03 and a two-hundred day moving average price of $11.49. The company has a market cap of $606.67 million, a PE ratio of -2.66 and a beta of 1.46.

Bicycle Therapeutics (NASDAQ:BCYC - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported ($0.88) EPS for the quarter, missing the consensus estimate of ($0.86) by ($0.02). The business had revenue of $9.98 million during the quarter, compared to the consensus estimate of $8.67 million. Bicycle Therapeutics had a negative return on equity of 27.35% and a negative net margin of 450.64%. On average, equities research analysts anticipate that Bicycle Therapeutics plc will post -3.06 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of BCYC. Candriam S.C.A. boosted its holdings in shares of Bicycle Therapeutics by 3.5% during the fourth quarter. Candriam S.C.A. now owns 1,087,876 shares of the company's stock worth $15,230,000 after acquiring an additional 37,278 shares during the period. Platinum Investment Management Ltd. raised its position in Bicycle Therapeutics by 13.6% during the 4th quarter. Platinum Investment Management Ltd. now owns 309,059 shares of the company's stock worth $4,327,000 after purchasing an additional 36,910 shares during the last quarter. EntryPoint Capital LLC acquired a new position in shares of Bicycle Therapeutics in the 4th quarter valued at about $614,000. Springhill Fund Asset Management HK Co Ltd acquired a new position in shares of Bicycle Therapeutics during the fourth quarter valued at about $1,630,000. Finally, Barclays PLC raised its holdings in shares of Bicycle Therapeutics by 878.3% in the 4th quarter. Barclays PLC now owns 2,612 shares of the company's stock worth $37,000 after acquiring an additional 2,345 shares during the last quarter. 86.15% of the stock is currently owned by institutional investors.

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.