Bicycle Therapeutics (NASDAQ:BCYC) Stock Price Up 4.1%

Shares of Bicycle Therapeutics plc (NASDAQ:BCYC) shot up 4.1% during trading on Tuesday . The company traded as high as $24.43 and last traded at $24.37. 25,511 shares were traded during trading, a decline of 93% from the average session volume of 368,284 shares. The stock had previously closed at $23.41.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on BCYC. Needham & Company LLC reaffirmed a “buy” rating and issued a $43.00 price objective on shares of Bicycle Therapeutics in a research note on Wednesday, April 10th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $60.00 price objective on shares of Bicycle Therapeutics in a research note on Wednesday, February 21st. Finally, HC Wainwright lowered their price objective on shares of Bicycle Therapeutics from $57.00 to $55.00 and set a “buy” rating on the stock in a research note on Wednesday, February 21st. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $46.86.

Bicycle Therapeutics Stock Performance

The firm’s 50-day moving average price is $23.98 and its two-hundred day moving average price is $19.35. The firm has a market capitalization of $718.86 million, a PE ratio of -4.75 and a beta of 0.89. The company has a quick ratio of 8.08, a current ratio of 8.08 and a debt-to-equity ratio of 0.08.

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

Insider Transactions at Bicycle Therapeutics

In other news, CEO Kevin Lee sold 3,158 shares of Bicycle Therapeutics stock in a transaction that occurred on Wednesday, April 3rd. The shares were 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 of the company’s stock, valued at $9,220,898.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 5,312 shares of company stock valued at $126,139 over the last ninety days. Corporate insiders own 10.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Platinum Investment Management Ltd. acquired a new stake in Bicycle Therapeutics in the third quarter valued at approximately $5,735,000. Deutsche Bank AG lifted its stake in Bicycle Therapeutics by 1,051.4% in the third quarter. Deutsche Bank AG now owns 96,370 shares of the company’s stock valued at $1,936,000 after acquiring an additional 88,000 shares during the last quarter. Braidwell LP acquired a new stake in Bicycle Therapeutics in the third quarter valued at approximately $25,914,000. Exchange Traded Concepts LLC lifted its stake in Bicycle Therapeutics by 34.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 6,727 shares of the company’s stock valued at $122,000 after acquiring an additional 1,706 shares during the last quarter. Finally, Polar Capital Holdings Plc increased its position in Bicycle Therapeutics by 33.2% during the third quarter. Polar Capital Holdings Plc now owns 1,011,500 shares of the company’s stock worth $20,321,000 after acquiring an additional 252,000 shares during the period. 86.15% of the stock is owned by hedge funds and other 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.