Bicycle Therapeutics (NASDAQ:BCYC) Releases Quarterly Earnings Results

Bicycle Therapeutics (NASDAQ:BCYC) announced its quarterly earnings data on Tuesday. The company reported ($0.77) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.10) by $0.33, Briefing.com reports. Bicycle Therapeutics had a negative return on equity of 49.35% and a negative net margin of 404.14%. The business had revenue of $9.36 million for the quarter, compared to analysts’ expectations of $6.13 million. Bicycle Therapeutics’s revenue was down 17.9% on a year-over-year basis.

Bicycle Therapeutics Stock Performance

Shares of BCYC stock traded up $0.01 during mid-day trading on Thursday, hitting $22.56. 232,279 shares of the stock were exchanged, compared to its average volume of 334,872. The stock’s fifty day simple moving average is $22.31 and its two-hundred day simple moving average is $22.42. The company has a debt-to-equity ratio of 0.09, a quick ratio of 10.42 and a current ratio of 10.42. Bicycle Therapeutics has a 12-month low of $12.54 and a 12-month high of $27.24. The stock has a market capitalization of $965.09 million, a price-to-earnings ratio of -5.07 and a beta of 0.94.

Analysts Set New Price Targets

A number of research firms have issued reports on BCYC. Oppenheimer reaffirmed an “outperform” rating and issued a $48.00 price target on shares of Bicycle Therapeutics in a research report on Wednesday. Needham & Company LLC reiterated a “buy” rating and set a $38.00 price target on shares of Bicycle Therapeutics in a report on Wednesday. HC Wainwright reiterated a “buy” rating and set a $55.00 target price on shares of Bicycle Therapeutics in a research note on Wednesday. Finally, B. Riley lowered Bicycle Therapeutics from a “buy” rating to a “neutral” rating and dropped their target price for the company from $33.00 to $28.00 in a report on Wednesday. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $45.75.

Insider Activity

In related news, CEO Kevin Lee sold 3,194 shares of the firm’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $19.64, for a total transaction of $62,730.16. Following the transaction, the chief executive officer now owns 384,076 shares in the company, valued at approximately $7,543,252.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last three months, insiders sold 4,555 shares of company stock valued at $89,460. Insiders own 8.50% of the company’s stock.

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.