Bicycle Therapeutics (NASDAQ:BCYC) Posts Quarterly Earnings Results, Beats Expectations By $0.10 EPS

Bicycle Therapeutics (NASDAQ:BCYC) released its quarterly earnings results on Tuesday. The company reported ($0.75) earnings per share for the quarter, topping the consensus estimate of ($0.85) by $0.10, Briefing.com reports. The business had revenue of $3.70 million for the quarter, compared to analysts’ expectations of $5.47 million. Bicycle Therapeutics had a negative net margin of 450.64% and a negative return on equity of 27.35%. The firm’s revenue for the quarter was down 30.2% compared to the same quarter last year. During the same period in the previous year, the company earned ($1.16) earnings per share.

Bicycle Therapeutics Stock Performance

Shares of NASDAQ BCYC traded up $0.37 during mid-day trading on Wednesday, hitting $11.47. The stock had a trading volume of 102,256 shares, compared to its average volume of 302,643. The business has a 50 day moving average price of $13.42 and a two-hundred day moving average price of $19.52. Bicycle Therapeutics has a 1 year low of $10.91 and a 1 year high of $28.67. The firm has a market cap of $791.93 million, a P/E ratio of -3.49 and a beta of 0.93.

Insider Activity

In other news, CAO Travis Alvin Thompson sold 2,686 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $15.00, for a total value of $40,290.00. Following the completion of the transaction, the chief accounting officer now owns 32,146 shares in the company, valued at $482,190. This trade represents a 7.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Bros. Advisors Lp Baker bought 985,397 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were acquired at an average price of $13.76 per share, for a total transaction of $13,559,062.72. Following the acquisition, the director now owns 9,537,643 shares in the company, valued at approximately $131,237,967.68. This represents a 11.52 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 27,677 shares of company stock valued at $392,413. Insiders own 8.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on BCYC shares. Stephens reiterated an “equal weight” rating and set a $15.00 price objective on shares of Bicycle Therapeutics in a research note on Wednesday, January 22nd. JMP Securities reduced their price objective on shares of Bicycle Therapeutics from $32.00 to $26.00 and set a “market outperform” rating for the company in a research note on Wednesday, December 18th. Royal Bank of Canada reiterated an “outperform” rating and issued a $35.00 target price on shares of Bicycle Therapeutics in a research note on Friday, November 1st. Needham & Company LLC restated a “buy” rating and set a $30.00 target price on shares of Bicycle Therapeutics in a research report on Wednesday. Finally, HC Wainwright reissued a “buy” rating and issued a $33.00 price target on shares of Bicycle Therapeutics in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.14.

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.