Bicycle Therapeutics (NASDAQ:BCYC) Stock Price Up 5.5% - Here's Why

Bicycle Therapeutics plc (NASDAQ:BCYC - Get Free Report)'s share price shot up 5.5% during trading on Wednesday . The company traded as high as $8.34 and last traded at $8.47. 26,431 shares changed hands during trading, a decline of 93% from the average session volume of 394,831 shares. The stock had previously closed at $8.03.

Analyst Ratings Changes

A number of research analysts have weighed in on BCYC shares. JMP Securities decreased their price objective on Bicycle Therapeutics from $26.00 to $22.00 and set a "market outperform" rating on the stock in a report on Friday, May 2nd. B. Riley cut their price objective on shares of Bicycle Therapeutics from $17.00 to $14.00 and set a "neutral" rating for the company in a research report on Friday, May 2nd. Needham & Company LLC restated a "buy" rating and set a $29.00 price target on shares of Bicycle Therapeutics in a research note on Friday, May 2nd. Barclays decreased their price target on Bicycle Therapeutics from $40.00 to $15.00 and set an "overweight" rating for the company in a report on Thursday, May 1st. Finally, HC Wainwright reissued a "buy" rating and set a $33.00 target price on shares of Bicycle Therapeutics in a research report on Wednesday, February 26th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $25.00.

Bicycle Therapeutics Price Performance

The company has a market capitalization of $569.27 million, a P/E ratio of -2.50 and a beta of 1.60. The company has a fifty day moving average price of $7.98 and a 200 day moving average price of $12.19.

Bicycle Therapeutics (NASDAQ:BCYC - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported ($0.88) 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%. On average, equities research analysts predict that Bicycle Therapeutics plc will post -3.06 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Bicycle Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the business. Barclays PLC boosted its holdings in shares of Bicycle Therapeutics by 878.3% during the fourth 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 period. JPMorgan Chase & Co. raised its holdings in shares of Bicycle Therapeutics by 26.8% during the third quarter. JPMorgan Chase & Co. now owns 8,424 shares of the company's stock worth $191,000 after acquiring an additional 1,782 shares in the last quarter. GAMMA Investing LLC grew its stake in Bicycle Therapeutics by 879.5% in the first quarter. GAMMA Investing LLC now owns 8,982 shares of the company's stock valued at $76,000 after purchasing an additional 8,065 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its position in Bicycle Therapeutics by 30.7% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 9,329 shares of the company's stock worth $131,000 after purchasing an additional 2,191 shares during the last quarter. Finally, Exchange Traded Concepts LLC raised its stake in shares of Bicycle Therapeutics by 90.3% during the 1st quarter. Exchange Traded Concepts LLC now owns 12,764 shares of the company's stock worth $108,000 after purchasing an additional 6,057 shares in the last quarter. Hedge funds and other institutional investors 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.