Bicycle Therapeutics (NASDAQ:BCYC) Stock Price Up 9.6% - Here's Why

Key Points

• Bicycle Therapeutics' share price experienced a rise of 9.6%, reaching a high of $8.12 before closing at $7.91, despite a significant drop in trading volume.
• Analysts have set varied price targets for the company, with B. Riley lowering its target from $17 to $14 while Needham reissued a "buy" rating with a target of $29.
• The company reported a quarterly loss of ($1.14) EPS, missing expectations, and is projected to have a negative EPS of -3.06 for the current fiscal year.

Shares of Bicycle Therapeutics PLC Sponsored ADR (NASDAQ:BCYC - Get Free Report) were up 9.6% during trading on Wednesday . The company traded as high as $8.12 and last traded at $7.91. Approximately 147,164 shares traded hands during mid-day trading, a decline of 54% from the average daily volume of 319,128 shares. The stock had previously closed at $7.22.

Wall Street Analyst Weigh In

BCYC has been the subject of several research reports. JMP Securities lowered their price objective on shares of Bicycle Therapeutics from $22.00 to $10.00 and set a "market outperform" rating for the company in a research note on Tuesday, August 12th. Barclays lowered their price target on Bicycle Therapeutics from $40.00 to $15.00 and set an "overweight" rating for the company in a research report on Thursday, May 1st. Oppenheimer restated an "outperform" rating and issued a $44.00 price objective (down from $48.00) on shares of Bicycle Therapeutics in a research note on Monday, August 11th. Morgan Stanley reduced their target price on shares of Bicycle Therapeutics from $17.00 to $13.00 and set an "equal weight" rating for the company in a report on Tuesday, August 12th. Finally, B. Riley lowered their price target on shares of Bicycle Therapeutics from $17.00 to $14.00 and set a "neutral" rating on the stock in a report on Friday, May 2nd. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, Bicycle Therapeutics presently has a consensus rating of "Moderate Buy" and an average price target of $22.22.

Bicycle Therapeutics Stock Performance

The business has a 50-day moving average of $7.83 and a 200-day moving average of $8.73. The stock has a market capitalization of $522.15 million, a price-to-earnings ratio of -2.15 and a beta of 1.44.

Bicycle Therapeutics (NASDAQ:BCYC - Get Free Report) last announced its earnings results on Friday, August 8th. The company reported ($1.14) earnings per share for the quarter, missing the consensus estimate of ($0.95) by ($0.19). The company had revenue of $2.90 million during the quarter, compared to analysts' expectations of $9.43 million. Bicycle Therapeutics had a negative net margin of 1,257.00% and a negative return on equity of 32.43%. On average, research analysts predict that Bicycle Therapeutics PLC Sponsored ADR will post -3.06 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Bicycle Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the business. Barclays PLC raised its holdings in Bicycle Therapeutics by 878.3% in the 4th quarter. Barclays PLC now owns 2,612 shares of the company's stock valued at $37,000 after acquiring an additional 2,345 shares during the last quarter. GAMMA Investing LLC increased 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 during the last quarter. Ausdal Financial Partners Inc. acquired a new position in Bicycle Therapeutics in the second quarter valued at $70,000. Sei Investments Co. purchased a new position in Bicycle Therapeutics during the second quarter worth about $74,000. Finally, Virtus Investment Advisers LLC boosted its stake in Bicycle Therapeutics by 32.6% in the 2nd quarter. Virtus Investment Advisers LLC now owns 10,821 shares of the company's stock worth $75,000 after buying an additional 2,659 shares during the last quarter. 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.