Bicycle Therapeutics (NASDAQ:BCYC) Shares Gap Up to $21.82

Bicycle Therapeutics plc (NASDAQ:BCYC)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $21.82, but opened at $24.57. Bicycle Therapeutics shares last traded at $22.83, with a volume of 50,325 shares trading hands.

Analyst Ratings Changes

Several equities analysts recently weighed in on BCYC shares. Canaccord Genuity Group restated a “buy” rating and issued a $60.00 price target on shares of Bicycle Therapeutics in a research note on Wednesday, February 21st. HC Wainwright cut their price objective on Bicycle Therapeutics from $57.00 to $55.00 and set a “buy” rating for the company in a research note on Wednesday, February 21st. Finally, Needham & Company LLC reiterated a “buy” rating and set a $43.00 price objective on shares of Bicycle Therapeutics in a research note on Wednesday, April 10th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $46.86.

Bicycle Therapeutics Stock Down 4.2 %

The stock has a market capitalization of $704.44 million, a price-to-earnings ratio of -4.57 and a beta of 0.89. The business has a fifty day moving average of $23.80 and a 200 day moving average of $19.29. The company has a debt-to-equity ratio of 0.08, a current ratio of 8.08 and a quick ratio of 8.08.

Bicycle Therapeutics (NASDAQ:BCYC) last released its quarterly earnings data on Tuesday, February 20th. The company reported ($1.16) EPS for the quarter, beating analysts’ consensus estimates of ($1.23) by $0.07. Bicycle Therapeutics had a negative return on equity of 57.80% and a negative net margin of 669.72%. The firm had revenue of $5.33 million for the quarter, compared to analysts’ expectations of $11.68 million. As a group, equities analysts predict that Bicycle Therapeutics plc will post -5.2 earnings per share for the current year.

Insider Activity at Bicycle Therapeutics

In related news, CEO Kevin Lee sold 3,158 shares of the company’s stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $23.81, for a total value of $75,191.98. Following the transaction, the chief executive officer now directly owns 387,270 shares in the company, valued at $9,220,898.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders have sold 5,312 shares of company stock worth $126,139. Insiders own 10.20% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in BCYC. Braidwell LP acquired a new position in Bicycle Therapeutics during the third quarter worth $25,914,000. Westfield Capital Management Co. LP acquired a new position in Bicycle Therapeutics during the fourth quarter worth $16,585,000. RA Capital Management L.P. acquired a new position in Bicycle Therapeutics during the third quarter worth $16,072,000. Armistice Capital LLC lifted its stake in Bicycle Therapeutics by 53.6% during the fourth quarter. Armistice Capital LLC now owns 1,536,000 shares of the company’s stock worth $27,771,000 after purchasing an additional 536,000 shares in the last quarter. Finally, Deerfield Management Company L.P. Series C acquired a new position in Bicycle Therapeutics during the third quarter worth $9,015,000. 86.15% of the stock is currently owned by institutional investors and hedge funds.

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.