Bicycle Therapeutics (NASDAQ:BCYC) Trading 4.1% Higher

Bicycle Therapeutics plc (NASDAQ:BCYC - Get Free Report)'s stock price rose 4.1% on Tuesday . The company traded as high as $24.43 and last traded at $24.37. Approximately 25,511 shares changed hands during trading, a decline of 93% from the average daily volume of 368,284 shares. The stock had previously closed at $23.41.

Wall Street Analyst Weigh In

BCYC has been the topic of a number of recent research reports. Needham & Company LLC reiterated a "buy" rating and issued a $43.00 price objective on shares of Bicycle Therapeutics in a report on Wednesday, April 10th. Canaccord Genuity Group reissued a "buy" rating and set a $60.00 price target on shares of Bicycle Therapeutics in a research report on Wednesday, February 21st. Finally, HC Wainwright reduced their price objective on shares of Bicycle Therapeutics from $57.00 to $55.00 and set a "buy" rating for the company in a research note on Wednesday, February 21st. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $46.86.

Bicycle Therapeutics Trading Up 0.2 %

The stock has a market cap of $704.44 million, a price-to-earnings ratio of -4.57 and a beta of 0.89. The business's 50 day simple moving average is $23.98 and its 200 day simple moving average is $19.35. The company has a quick ratio of 8.08, a current ratio of 8.08 and a debt-to-equity ratio of 0.08.

Bicycle Therapeutics (NASDAQ:BCYC - Get Free Report) last announced its quarterly earnings results on Tuesday, February 20th. The company reported ($1.16) earnings per share for the quarter, topping analysts' consensus estimates of ($1.23) by $0.07. Bicycle Therapeutics had a negative return on equity of 57.80% and a negative net margin of 669.72%. The firm had revenue of $5.33 million for the quarter, compared to the consensus estimate of $11.68 million. On average, research analysts expect that Bicycle Therapeutics plc will post -5.2 EPS for the current fiscal year.

Insider Activity at Bicycle Therapeutics

In other Bicycle Therapeutics news, CEO Kevin Lee sold 3,158 shares of the firm's stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $23.81, for a total transaction of $75,191.98. Following the completion of the sale, the chief executive officer now owns 387,270 shares of the company's stock, valued at approximately $9,220,898.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last quarter, insiders have sold 5,312 shares of company stock worth $126,139. Company insiders own 10.20% of the company's stock.

Institutional Investors Weigh In On Bicycle Therapeutics

Several hedge funds have recently bought and sold shares of the stock. Braidwell LP bought a new position in shares of Bicycle Therapeutics during the third quarter worth approximately $25,914,000. Westfield Capital Management Co. LP acquired a new position in Bicycle Therapeutics in the 4th quarter valued at $16,585,000. RA Capital Management L.P. bought a new position in Bicycle Therapeutics during the 3rd quarter worth $16,072,000. Armistice Capital LLC increased its position in Bicycle Therapeutics by 53.6% during the 4th quarter. Armistice Capital LLC now owns 1,536,000 shares of the company's stock worth $27,771,000 after buying an additional 536,000 shares during the period. Finally, Deerfield Management Company L.P. Series C acquired a new stake in shares of Bicycle Therapeutics during the third quarter worth $9,015,000. 86.15% of the stock is currently owned by institutional investors and hedge funds.

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.