Bicycle Therapeutics (NASDAQ:BCYC) Trading 9.3% Higher - Here's Why

Bicycle Therapeutics plc (NASDAQ:BCYC - Get Free Report)'s stock price shot up 9.3% on Tuesday . The company traded as high as $8.17 and last traded at $8.21. 109,343 shares were traded during trading, a decline of 72% from the average session volume of 392,645 shares. The stock had previously closed at $7.51.

Analyst Ratings Changes

BCYC has been the subject of several research reports. Needham & Company LLC reaffirmed a "buy" rating and issued a $30.00 price target on shares of Bicycle Therapeutics in a report on Wednesday, April 9th. Stephens reaffirmed an "equal weight" rating and set a $15.00 target price on shares of Bicycle Therapeutics in a report on Wednesday, January 22nd. Finally, HC Wainwright reissued a "buy" rating and issued a $33.00 price target on shares of Bicycle Therapeutics in a report on Wednesday, February 26th. Two research analysts have rated the stock with a hold rating and six have assigned 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 $29.14.

Bicycle Therapeutics Stock Performance

The firm has a 50 day simple moving average of $9.00 and a two-hundred day simple moving average of $15.01. The stock has a market cap of $582.68 million, a P/E ratio of -2.56 and a beta of 1.40.

Bicycle Therapeutics (NASDAQ:BCYC - Get Free Report) last issued its quarterly earnings data on Tuesday, February 25th. The company reported ($0.75) earnings per share for the quarter, beating analysts' consensus estimates of ($0.85) by $0.10. The business had revenue of $3.70 million for the quarter, compared to analysts' expectations of $5.47 million. Bicycle Therapeutics had a negative net margin of 450.64% and a negative return on equity of 27.35%. The company's revenue was down 30.2% on a year-over-year basis. During the same period in the previous year, the business earned ($1.16) earnings per share. As a group, equities research analysts predict that Bicycle Therapeutics plc will post -3.06 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Barclays PLC increased its position in shares of Bicycle Therapeutics by 878.3% during the 4th quarter. Barclays PLC now owns 2,612 shares of the company's stock valued at $37,000 after purchasing an additional 2,345 shares during the period. Avior Wealth Management LLC bought a new stake in Bicycle Therapeutics in the fourth quarter worth about $57,000. JPMorgan Chase & Co. lifted its holdings in Bicycle Therapeutics by 26.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 8,424 shares of the company's stock valued at $191,000 after acquiring an additional 1,782 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Bicycle Therapeutics by 879.5% during the 1st 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. Finally, China Universal Asset Management Co. Ltd. grew its stake in shares of 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. 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.