Bicycle Therapeutics (NASDAQ:BCYC) Shares Up 4.2%

Posted by Defense World Staff on May 14th, 2023

Bicycle Therapeutics plc (NASDAQ:BCYC – Get Rating)’s stock price shot up 4.2% on Friday . The company traded as high as $24.03 and last traded at $23.98. 53,368 shares changed hands during trading, a decline of 83% from the average session volume of 311,593 shares. The stock had previously closed at $23.01.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on BCYC. HC Wainwright restated a “buy” rating and set a $57.00 target price on shares of Bicycle Therapeutics in a report on Wednesday, March 1st. EF Hutton Acquisition Co. I restated a “buy” rating and set a $55.00 target price on shares of Bicycle Therapeutics in a report on Wednesday, April 19th. Needham & Company LLC lowered their price objective on shares of Bicycle Therapeutics from $72.00 to $67.00 and set a “buy” rating on the stock in a research report on Wednesday, March 1st. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $74.00 price objective on shares of Bicycle Therapeutics in a research report on Monday, February 27th. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $53.20.

Bicycle Therapeutics Stock Up 5.0 %

The business’s 50 day simple moving average is $21.08 and its 200-day simple moving average is $25.37. The company has a market cap of $514.73 million, a price-to-earnings ratio of -5.79 and a beta of 0.75. The company has a debt-to-equity ratio of 0.13, a quick ratio of 7.19 and a current ratio of 7.19.

Bicycle Therapeutics (NASDAQ:BCYC – Get Rating) last released its quarterly earnings data on Tuesday, February 28th. The company reported ($1.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.06) by $0.05. Bicycle Therapeutics had a negative net margin of 801.45% and a negative return on equity of 44.57%. The business had revenue of $3.19 million during the quarter, compared to analyst estimates of $3.63 million. Sell-side analysts expect that Bicycle Therapeutics plc will post -4.82 earnings per share for the current year.

Insider Activity at Bicycle Therapeutics

In related news, CEO Kevin Lee sold 1,486 shares of Bicycle Therapeutics stock in a transaction on Monday, April 3rd. The shares were sold at an average price of $21.11, for a total value of $31,369.46. Following the completion of the sale, the chief executive officer now owns 325,099 shares of the company’s stock, valued at approximately $6,862,839.89. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last 90 days, insiders sold 2,628 shares of company stock valued at $55,477. Insiders own 9.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Tower Research Capital LLC TRC increased its holdings in shares of Bicycle Therapeutics by 109.7% during the 3rd quarter. Tower Research Capital LLC TRC now owns 2,263 shares of the company’s stock worth $53,000 after purchasing an additional 1,184 shares during the period. Quantbot Technologies LP bought a new stake in Bicycle Therapeutics in the second quarter valued at approximately $60,000. Natixis bought a new stake in shares of Bicycle Therapeutics during the fourth quarter worth $107,000. BNP Paribas Arbitrage SNC grew its position in Bicycle Therapeutics by 4,393.2% in the first quarter. BNP Paribas Arbitrage SNC now owns 7,279 shares of the company’s stock valued at $155,000 after purchasing an additional 7,117 shares in the last quarter. Finally, Twelve Points Wealth Management LLC bought a new position in Bicycle Therapeutics in the fourth quarter valued at $213,000. Institutional investors and hedge funds own 77.88% of the company’s stock.

Bicycle Therapeutics Company Profile

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Bicycle Therapeutics Plc is a clinical-stage biopharmaceutical company, which engages in the development of a novel class of medicines, which the company refers to as bicycles, for diseases that are underserved by existing therapeutics. Its portfolio includes internal product candidates that are directed to oncology applications.