Bicycle Therapeutics (NASDAQ:BCYC) Stock Price Down 5.8%

Bicycle Therapeutics plc (NASDAQ:BCYC - Get Free Report) was down 5.8% during mid-day trading on Friday . The company traded as low as $23.00 and last traded at $23.08. Approximately 469,718 shares changed hands during mid-day trading, an increase of 23% from the average daily volume of 381,422 shares. The stock had previously closed at $24.49.

Wall Street Analysts Forecast Growth

Several research firms have commented on BCYC. Needham & Company LLC restated a "buy" rating and issued a $43.00 price target on shares of Bicycle Therapeutics in a research note on Wednesday, April 10th. Canaccord Genuity Group restated a "buy" rating and issued a $60.00 price target on shares of Bicycle Therapeutics in a research note on Wednesday, February 21st. Finally, HC Wainwright dropped their price target 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 equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, Bicycle Therapeutics has a consensus rating of "Moderate Buy" and a consensus target price of $47.88.

Bicycle Therapeutics Trading Down 4.2 %

The company has a debt-to-equity ratio of 0.08, a current ratio of 8.08 and a quick ratio of 8.08. The business's 50 day moving average is $23.80 and its 200 day moving average is $19.29. The stock has a market cap of $704.44 million, a price-to-earnings ratio of -4.57 and a beta of 0.89.

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, beating analysts' consensus estimates of ($1.23) by $0.07. Bicycle Therapeutics had a negative net margin of 669.72% and a negative return on equity of 57.80%. The firm had revenue of $5.33 million during the quarter, compared to analysts' expectations of $11.68 million. As a group, equities analysts expect that Bicycle Therapeutics plc will post -5.2 earnings per share for the current fiscal year.

Insider Activity at Bicycle Therapeutics

In related news, CEO Kevin Lee sold 3,158 shares of the business's stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $23.81, for a total value of $75,191.98. Following the completion of the sale, the chief executive officer now directly owns 387,270 shares of the company's stock, valued at $9,220,898.70. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders sold a total of 5,312 shares of company stock valued at $126,139 over the last ninety days. Insiders own 10.20% of the company's stock.

Institutional Investors Weigh In On Bicycle Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in BCYC. Braidwell LP purchased a new stake in shares of Bicycle Therapeutics in the third quarter valued at about $25,914,000. Westfield Capital Management Co. LP purchased a new stake in shares of Bicycle Therapeutics in the fourth quarter valued at about $16,585,000. RA Capital Management L.P. purchased a new stake in shares of Bicycle Therapeutics in the third quarter valued at about $16,072,000. Armistice Capital LLC raised its holdings in shares of Bicycle Therapeutics by 53.6% in the fourth quarter. Armistice Capital LLC now owns 1,536,000 shares of the company's stock valued at $27,771,000 after buying an additional 536,000 shares during the last quarter. Finally, Deerfield Management Company L.P. Series C purchased a new stake in shares of Bicycle Therapeutics in the third quarter valued at about $9,015,000. 86.15% of the stock is owned by hedge funds and other institutional investors.

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.