Bicycle Therapeutics (NASDAQ:BCYC) Shares Up 5.5% - Still a Buy?

Bicycle Therapeutics plc (NASDAQ:BCYC - Get Free Report)'s stock 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.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on BCYC shares. Needham & Company LLC reissued a "buy" rating and set a $29.00 price objective on shares of Bicycle Therapeutics in a research note on Friday, May 2nd. HC Wainwright reiterated a "buy" rating and issued a $33.00 price objective on shares of Bicycle Therapeutics in a report on Wednesday, February 26th. Barclays dropped their price target on shares of Bicycle Therapeutics from $40.00 to $15.00 and set an "overweight" rating on the stock in a research report on Thursday, May 1st. Morgan Stanley set a $17.00 price objective on shares of Bicycle Therapeutics and gave the company an "equal weight" rating in a report on Monday, May 5th. Finally, Royal Bank of Canada reduced their target price 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, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $25.00.

Bicycle Therapeutics Price Performance

The business's 50 day moving average is $8.11 and its two-hundred day moving average is $11.27. The firm has a market capitalization of $579.66 million, a PE ratio of -2.54 and a beta of 1.46.

Bicycle Therapeutics (NASDAQ:BCYC - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported ($0.88) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.86) by ($0.02). The firm 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%. Analysts expect that Bicycle Therapeutics plc will post -3.06 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Baker BROS. Advisors LP boosted its position in shares of Bicycle Therapeutics by 15.8% in the fourth quarter. Baker BROS. Advisors LP now owns 10,885,357 shares of the company's stock worth $152,395,000 after purchasing an additional 1,485,397 shares during the period. EntryPoint Capital LLC bought a new stake in shares of Bicycle Therapeutics in the 4th quarter worth about $614,000. Fcpm Iii Services B.V. lifted its holdings in Bicycle Therapeutics by 47.5% during the 4th quarter. Fcpm Iii Services B.V. now owns 3,452,330 shares of the company's stock valued at $48,333,000 after buying an additional 1,112,369 shares in the last quarter. Nan Fung Group Holdings Ltd lifted its holdings in Bicycle Therapeutics by 118.3% during the 4th quarter. Nan Fung Group Holdings Ltd now owns 68,943 shares of the company's stock valued at $965,000 after buying an additional 37,358 shares in the last quarter. Finally, Springhill Fund Asset Management HK Co Ltd purchased a new position in Bicycle Therapeutics during the 4th quarter valued at about $1,630,000. 86.15% of the stock is owned by hedge funds and other 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.