Bicycle Therapeutics (NASDAQ:BCYC) Trading Up 10.5% - What's Next?

Key Points

• Bicycle Therapeutics' stock price rose by 10.5%, reaching a high of $9.13, although trading volume was down 48% from the average.
• Recent analyst ratings show a mix of outlooks, with target prices ranging from $10.00 to $27.00, and a consensus rating of "Moderate Buy".
• The company reported a loss of $1.14 per share for the last quarter, falling short of estimates, with revenue also significantly lower than expected at $2.90 million.

Bicycle Therapeutics PLC Sponsored ADR (NASDAQ:BCYC - Get Free Report)'s share price was up 10.5% on Thursday . The company traded as high as $9.03 and last traded at $9.13. Approximately 164,222 shares traded hands during mid-day trading, a decline of 48% from the average daily volume of 313,112 shares. The stock had previously closed at $8.26.

Analyst Upgrades and Downgrades

BCYC has been the subject of several research reports. JMP Securities reduced their target price on Bicycle Therapeutics from $22.00 to $10.00 and set a "market outperform" rating for the company in a research report on Tuesday, August 12th. Morgan Stanley lowered their target price on Bicycle Therapeutics from $17.00 to $13.00 and set an "equal weight" rating for the company in a research note on Tuesday, August 12th. Royal Bank Of Canada set a $27.00 target price on shares of Bicycle Therapeutics and gave the company an "outperform" rating in a research note on Monday, August 11th. Oppenheimer reaffirmed an "outperform" rating and issued a $44.00 target price (down previously from $48.00) on shares of Bicycle Therapeutics in a research note on Monday, August 11th. Finally, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Bicycle Therapeutics in a research note on Saturday, September 27th. Six analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $22.22.

Bicycle Therapeutics Trading Up 7.4%

The business has a 50 day moving average of $7.43 and a 200-day moving average of $7.80. The firm has a market capitalization of $614.78 million, a P/E ratio of -2.53 and a beta of 1.47.

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

Insider Activity at Bicycle Therapeutics

In other news, CEO Kevin Lee sold 3,231 shares of the stock in a transaction that occurred on Friday, October 3rd. The stock was sold at an average price of $8.41, for a total value of $27,172.71. Following the completion of the sale, the chief executive officer owned 475,310 shares of the company's stock, valued at approximately $3,997,357.10. This represents a 0.68% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last three months, insiders sold 8,527 shares of company stock valued at $71,738. Corporate insiders own 22.90% of the company's stock.

Institutional Investors Weigh In On Bicycle Therapeutics

Several hedge funds have recently added to or reduced their stakes in the business. Long Focus Capital Management LLC lifted its holdings in shares of Bicycle Therapeutics by 138.2% during the first quarter. Long Focus Capital Management LLC now owns 1,293,753 shares of the company's stock worth $10,984,000 after buying an additional 750,661 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in shares of Bicycle Therapeutics by 454.1% during the second quarter. Acadian Asset Management LLC now owns 698,501 shares of the company's stock worth $4,840,000 after buying an additional 572,439 shares in the last quarter. Armistice Capital LLC lifted its holdings in shares of Bicycle Therapeutics by 21.7% during the first quarter. Armistice Capital LLC now owns 2,672,000 shares of the company's stock worth $22,685,000 after buying an additional 476,000 shares in the last quarter. Tybourne Capital Management HK Ltd. raised its stake in Bicycle Therapeutics by 72.4% in the second quarter. Tybourne Capital Management HK Ltd. now owns 993,743 shares of the company's stock valued at $6,907,000 after purchasing an additional 417,400 shares in the last quarter. Finally, Jefferies Financial Group Inc. acquired a new position in Bicycle Therapeutics in the first quarter valued at about $3,471,000. 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.

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