Bicycle Therapeutics (NASDAQ:BCYC) Shares Up 6.2%

Bicycle Therapeutics plc (NASDAQ:BCYC) rose 6.2% during mid-day trading on Monday . The company traded as high as $22.30 and last traded at $21.81. Approximately 63,063 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 321,619 shares. The stock had previously closed at $20.54.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. HC Wainwright reaffirmed a “buy” rating and set a $55.00 target price on shares of Bicycle Therapeutics in a report on Wednesday, August 7th. B. Riley cut Bicycle Therapeutics from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $33.00 to $28.00 in a report on Wednesday, August 7th. Needham & Company LLC reiterated a “buy” rating and set a $38.00 target price on shares of Bicycle Therapeutics in a research report on Monday. Oppenheimer restated an “outperform” rating and issued a $48.00 price target on shares of Bicycle Therapeutics in a research report on Wednesday, August 7th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Bicycle Therapeutics in a research report on Monday. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $44.56.

Bicycle Therapeutics Stock Up 2.5 %

The company has a quick ratio of 14.77, a current ratio of 14.77 and a debt-to-equity ratio of 0.01. The firm has a 50 day moving average of $22.48 and a two-hundred day moving average of $22.96. The firm has a market capitalization of $1.28 billion, a price-to-earnings ratio of -6.07 and a beta of 0.90.

Bicycle Therapeutics (NASDAQ:BCYC) last posted its earnings results on Tuesday, August 6th. The company reported ($0.77) EPS for the quarter, topping analysts’ consensus estimates of ($1.10) by $0.33. The firm had revenue of $9.36 million during the quarter, compared to analysts’ expectations of $6.13 million. Bicycle Therapeutics had a negative net margin of 417.88% and a negative return on equity of 32.80%. The business’s revenue for the quarter was down 17.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Bicycle Therapeutics plc will post -3.17 EPS for the current fiscal year.

Insider Activity at Bicycle Therapeutics

In other Bicycle Therapeutics news, CEO Kevin Lee sold 3,194 shares of the business’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $19.64, for a total transaction of $62,730.16. Following the sale, the chief executive officer now owns 384,076 shares of the company’s stock, valued at $7,543,252.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold a total of 4,555 shares of company stock valued at $89,460 in the last quarter. Insiders own 8.50% of the company’s stock.

Institutional Trading of Bicycle Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the company. Baker BROS. Advisors LP raised its holdings in Bicycle Therapeutics by 176.1% in the 1st quarter. Baker BROS. Advisors LP now owns 4,942,823 shares of the company’s stock valued at $123,076,000 after buying an additional 3,152,433 shares during the last quarter. Armistice Capital LLC raised its stake in shares of Bicycle Therapeutics by 17.9% during the second quarter. Armistice Capital LLC now owns 1,972,000 shares of the company’s stock valued at $39,913,000 after acquiring an additional 300,000 shares during the last quarter. First Light Asset Management LLC lifted its holdings in shares of Bicycle Therapeutics by 16.1% during the second quarter. First Light Asset Management LLC now owns 1,384,768 shares of the company’s stock worth $28,028,000 after purchasing an additional 191,717 shares during the period. Westfield Capital Management Co. LP lifted its holdings in shares of Bicycle Therapeutics by 13.3% during the first quarter. Westfield Capital Management Co. LP now owns 1,038,917 shares of the company’s stock worth $25,869,000 after purchasing an additional 121,613 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in shares of Bicycle Therapeutics by 0.6% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 888,081 shares of the company’s stock worth $17,975,000 after purchasing an additional 4,976 shares during the last quarter. 86.15% of the stock is currently 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.