Bicycle Therapeutics (NASDAQ:BCYC) Shares Down 3.5%

Bicycle Therapeutics plc (NASDAQ:BCYC - Get Free Report) fell 3.5% during trading on Friday . The stock traded as low as $21.40 and last traded at $21.40. 32,057 shares traded hands during mid-day trading, a decline of 91% from the average session volume of 357,176 shares. The stock had previously closed at $22.18.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. HC Wainwright reaffirmed a "buy" rating and issued a $55.00 target price on shares of Bicycle Therapeutics in a report on Friday, May 3rd. Needham & Company LLC reiterated a "buy" rating and set a $43.00 target price on shares of Bicycle Therapeutics in a research report on Wednesday, April 10th. Finally, Canaccord Genuity Group restated a "buy" rating and issued a $60.00 price target on shares of Bicycle Therapeutics in a research report on Wednesday, February 21st. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Bicycle Therapeutics currently has an average rating of "Moderate Buy" and an average target price of $46.86.

Bicycle Therapeutics Stock Performance

The company has a quick ratio of 10.42, a current ratio of 10.42 and a debt-to-equity ratio of 0.09. The stock has a fifty day moving average price of $23.50 and a two-hundred day moving average price of $19.92. The company has a market capitalization of $913.78 million, a price-to-earnings ratio of -4.80 and a beta of 0.90.

Bicycle Therapeutics (NASDAQ:BCYC - Get Free Report) last announced its earnings results on Thursday, May 2nd. The company reported ($0.62) earnings per share for the quarter, beating the consensus estimate of ($1.25) by $0.63. Bicycle Therapeutics had a negative net margin of 404.14% and a negative return on equity of 49.35%. The firm had revenue of $19.53 million during the quarter, compared to the consensus estimate of $6.06 million. The company's revenue was up 298.9% compared to the same quarter last year. As a group, analysts forecast that Bicycle Therapeutics plc will post -4.44 EPS for the current fiscal year.

Insiders Place Their Bets

In other Bicycle Therapeutics news, CEO Kevin Lee sold 3,158 shares of the 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 transaction, 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 filing with the SEC, which is available at the SEC website. In the last three months, insiders sold 5,312 shares of company stock valued at $126,139. Company insiders own 8.50% of the company's stock.

Hedge Funds Weigh In On Bicycle Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of BCYC. China Universal Asset Management Co. Ltd. lifted its position in Bicycle Therapeutics by 489.2% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 4,001 shares of the company's stock valued at $72,000 after buying an additional 3,322 shares in the last quarter. Exchange Traded Concepts LLC raised its stake in shares of Bicycle Therapeutics by 34.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 6,727 shares of the company's stock valued at $122,000 after purchasing an additional 1,706 shares during the period. PNC Financial Services Group Inc. acquired a new position in shares of Bicycle Therapeutics during the fourth quarter worth $137,000. PDS Planning Inc acquired a new stake in Bicycle Therapeutics during the 1st quarter valued at $210,000. Finally, Woodstock Corp lifted its holdings in Bicycle Therapeutics by 4.5% in the 4th quarter. Woodstock Corp now owns 21,479 shares of the company's stock worth $388,000 after buying an additional 926 shares in the last quarter. 86.15% of the stock is owned by institutional investors and hedge funds.

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.