Bicycle Therapeutics (NASDAQ:BCYC) Announces Quarterly Earnings Results

Bicycle Therapeutics (NASDAQ:BCYCGet Rating) released its quarterly earnings results on Thursday. The company reported ($0.93) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.68) by ($0.25), MarketWatch Earnings reports. Bicycle Therapeutics had a negative net margin of 568.71% and a negative return on equity of 35.59%.

Bicycle Therapeutics stock traded down $1.20 during midday trading on Friday, reaching $20.44. 708,533 shares of the stock traded hands, compared to its average volume of 1,046,911. The stock’s fifty day moving average is $35.62 and its 200-day moving average is $46.80. Bicycle Therapeutics has a 12 month low of $19.99 and a 12 month high of $62.08. The company has a debt-to-equity ratio of 0.09, a current ratio of 12.65 and a quick ratio of 12.65.

Several research firms have issued reports on BCYC. Zacks Investment Research lowered Bicycle Therapeutics from a “hold” rating to a “sell” rating in a report on Tuesday, May 3rd. Needham & Company LLC cut their price target on Bicycle Therapeutics from $85.00 to $75.00 and set a “buy” rating for the company in a report on Tuesday, April 12th. B. Riley lowered Bicycle Therapeutics from a “buy” rating to a “neutral” rating and cut their price target for the company from $62.00 to $33.00 in a report on Wednesday, April 13th. Morgan Stanley initiated coverage on Bicycle Therapeutics in a report on Monday, February 14th. They set an “equal weight” rating and a $60.00 price target for the company. Finally, TheStreet lowered Bicycle Therapeutics from a “c-” rating to a “d+” rating in a research note on Thursday, April 21st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $65.08.

A number of institutional investors have recently made changes to their positions in BCYC. Citigroup Inc. boosted its stake in Bicycle Therapeutics by 424.2% during the fourth quarter. Citigroup Inc. now owns 802 shares of the company’s stock valued at $49,000 after buying an additional 649 shares during the last quarter. Bank of America Corp DE boosted its stake in Bicycle Therapeutics by 17.1% during the fourth quarter. Bank of America Corp DE now owns 2,524 shares of the company’s stock valued at $153,000 after buying an additional 368 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Bicycle Therapeutics by 107.2% during the fourth quarter. JPMorgan Chase & Co. now owns 2,828 shares of the company’s stock valued at $172,000 after buying an additional 1,463 shares during the last quarter. Northern Trust Corp bought a new position in Bicycle Therapeutics during the fourth quarter valued at approximately $177,000. Finally, Sei Investments Co. bought a new position in Bicycle Therapeutics during the fourth quarter valued at approximately $229,000. 71.99% of the stock is owned by institutional investors.

Bicycle Therapeutics Company Profile (Get Rating)

Bicycle Therapeutics plc, a clinical-stage biopharmaceutical company, develops a class of medicines for diseases that are underserved by existing therapeutics. Its lead product candidate is BT1718, a bicycle toxin conjugate (BTC), which is in Phase I/IIa clinical trials targeting tumors that express Membrane Type 1 matrix metalloprotease.

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Earnings History for Bicycle Therapeutics (NASDAQ:BCYC)

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