Bicycle Therapeutics (NASDAQ:BCYC) Trading Up 7.8% - Here's Why

Key Points

• Bicycle Therapeutics shares increased by 7.8% on Wednesday, with the stock reaching a last traded price of $7.65.
• Recent analyst reports downgraded the company's target prices, with JMP Securities lowering its estimate to $10.00 and Morgan Stanley to $13.00, while Royal Bank Of Canada set a price target at $27.00.
• The company reported a significant earnings miss, with earnings per share at ($1.14), compared to analysts’ expectations of ($0.95).

Shares of Bicycle Therapeutics PLC Sponsored ADR (NASDAQ:BCYC - Get Free Report) were up 7.8% on Wednesday . The company traded as high as $7.59 and last traded at $7.65. Approximately 203,832 shares were traded during trading, a decline of 35% from the average daily volume of 311,228 shares. The stock had previously closed at $7.09.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on BCYC shares. JMP Securities decreased their target price on Bicycle Therapeutics from $22.00 to $10.00 and set a "market outperform" rating on the stock in a research report on Tuesday, August 12th. Morgan Stanley cut their price target on shares of 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. Oppenheimer restated an "outperform" rating and set a $44.00 price target (down previously from $48.00) on shares of Bicycle Therapeutics in a research note on Monday, August 11th. Finally, Royal Bank Of Canada set a $27.00 price target on shares of Bicycle Therapeutics and gave the stock an "outperform" rating in a research note on Monday, August 11th. Six investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $22.22.

Bicycle Therapeutics Trading Up 7.4%

The company has a market cap of $527.73 million, a price-to-earnings ratio of -2.16 and a beta of 1.41. The firm's fifty day moving average price is $7.52 and its 200-day moving average price is $7.92.

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 analysts' consensus estimates of ($0.95) by ($0.19). The company had revenue of $2.90 million during the quarter, compared to analyst estimates of $9.43 million. Bicycle Therapeutics had a negative return on equity of 32.43% and a negative net margin of 1,257.00%. As a group, research analysts anticipate that Bicycle Therapeutics PLC Sponsored ADR will post -3.06 EPS for the current year.

Institutional Investors Weigh In On Bicycle Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Jane Street Group LLC boosted its stake in shares of Bicycle Therapeutics by 18.9% during the 4th quarter. Jane Street Group LLC now owns 23,991 shares of the company's stock worth $336,000 after buying an additional 3,811 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of Bicycle Therapeutics by 2.1% during the 4th quarter. Bank of America Corp DE now owns 392,859 shares of the company's stock worth $5,500,000 after buying an additional 7,994 shares during the last quarter. Millennium Management LLC acquired a new position in shares of Bicycle Therapeutics during the 4th quarter worth about $2,475,000. GAMMA Investing LLC boosted its stake 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 worth $76,000 after buying an additional 8,065 shares during the last quarter. Finally, Harbor Capital Advisors Inc. boosted its stake in shares of Bicycle Therapeutics by 12.6% during the 1st quarter. Harbor Capital Advisors Inc. now owns 148,129 shares of the company's stock worth $1,258,000 after buying an additional 16,624 shares during the last quarter. 86.15% of the stock is owned by 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.

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