Bicycle Therapeutics (NASDAQ:BCYC) Shares Up 10.1% - What's Next?

Bicycle Therapeutics PLC Sponsored ADR (NASDAQ:BCYC - Get Free Report) shares shot up 10.1% on Friday . The stock traded as high as $8.85 and last traded at $8.85. 187,289 shares changed hands during mid-day trading, a decline of 53% from the average session volume of 396,758 shares. The stock had previously closed at $8.04.

Analyst Upgrades and Downgrades

BCYC has been the topic of several research reports. Royal Bank Of Canada decreased their price target on shares of Bicycle Therapeutics from $32.00 to $25.00 and set an "outperform" rating on the stock in a research note on Thursday. JMP Securities reduced their price target 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. Barclays dropped their price objective on shares of Bicycle Therapeutics from $40.00 to $15.00 and set an "overweight" rating for the company in a report on Thursday, May 1st. B. Riley dropped their price objective on shares of Bicycle Therapeutics from $17.00 to $14.00 and set a "neutral" rating for the company in a report on Friday, May 2nd. Finally, Needham & Company LLC restated a "buy" rating and set a $29.00 price target on shares of Bicycle Therapeutics in a report on Friday, May 2nd. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $24.22.

Bicycle Therapeutics Stock Performance

The stock has a 50-day simple moving average of $7.96 and a two-hundred day simple moving average of $9.62. The firm has a market cap of $592.78 million, a PE ratio of -2.73 and a beta of 1.41.

Bicycle Therapeutics (NASDAQ:BCYC - Get Free Report) last announced its quarterly earnings data 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). Bicycle Therapeutics had a negative net margin of 790.07% and a negative return on equity of 25.54%. The company had revenue of $9.98 million for the quarter, compared to the consensus estimate of $8.67 million. As a group, sell-side analysts anticipate that Bicycle Therapeutics PLC Sponsored ADR will post -3.06 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Baker BROS. Advisors LP grew its holdings in Bicycle Therapeutics by 15.8% in the fourth quarter. Baker BROS. Advisors LP now owns 10,885,357 shares of the company's stock valued at $152,395,000 after purchasing an additional 1,485,397 shares during the period. Point72 Asset Management L.P. grew its holdings in Bicycle Therapeutics by 406.2% in the fourth quarter. Point72 Asset Management L.P. now owns 4,554,900 shares of the company's stock valued at $63,769,000 after purchasing an additional 3,655,101 shares during the period. Fcpm Iii Services B.V. grew its holdings in Bicycle Therapeutics by 47.5% in the fourth quarter. Fcpm Iii Services B.V. now owns 3,452,330 shares of the company's stock valued at $48,333,000 after purchasing an additional 1,112,369 shares during the period. Armistice Capital LLC grew its holdings in Bicycle Therapeutics by 21.7% in the first quarter. Armistice Capital LLC now owns 2,672,000 shares of the company's stock valued at $22,685,000 after purchasing an additional 476,000 shares during the period. Finally, Westfield Capital Management Co. LP grew its holdings in Bicycle Therapeutics by 1.8% in the first quarter. Westfield Capital Management Co. LP now owns 2,657,305 shares of the company's stock valued at $22,561,000 after purchasing an additional 46,968 shares during the period. 86.15% of the stock is currently 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.