Bicycle Therapeutics (NASDAQ:BCYC) Trading Up 8.7% – Still a Buy?

Bicycle Therapeutics plc (NASDAQ:BCYC) rose 8.7% during mid-day trading on Monday . The stock traded as high as $15.04 and last traded at $15.01. Approximately 447,212 shares changed hands during trading, an increase of 16% from the average daily volume of 387,183 shares. The stock had previously closed at $13.81.

Analyst Ratings Changes

Several research analysts have commented on BCYC shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $35.00 target price on shares of Bicycle Therapeutics in a report on Friday, November 1st. Stephens started coverage on shares of Bicycle Therapeutics in a research note on Friday, November 8th. They issued an “equal weight” rating and a $25.00 price objective for the company. JMP Securities cut their target price on shares of Bicycle Therapeutics from $32.00 to $26.00 and set a “market outperform” rating on the stock in a research note on Wednesday. Needham & Company LLC restated a “buy” rating and issued a $38.00 target price on shares of Bicycle Therapeutics in a report on Thursday, October 31st. Finally, B. Riley lowered their price target on Bicycle Therapeutics from $28.00 to $17.00 and set a “neutral” rating on the stock in a report on Friday, December 13th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $35.25.

Bicycle Therapeutics Price Performance

The firm has a market capitalization of $1.06 billion, a PE ratio of -4.65 and a beta of 0.86. The company has a fifty day moving average of $22.45 and a 200-day moving average of $22.66.

Bicycle Therapeutics (NASDAQ:BCYC) last issued its earnings results on Thursday, October 31st. The company reported ($0.74) earnings per share for the quarter, topping the consensus estimate of ($0.78) by $0.04. The company had revenue of $2.68 million for the quarter, compared to analyst estimates of $6.82 million. Bicycle Therapeutics had a negative return on equity of 27.35% and a negative net margin of 450.64%. The business’s revenue was down 50.0% compared to the same quarter last year. During the same period in the prior year, the firm posted ($1.26) EPS. Equities analysts anticipate that Bicycle Therapeutics plc will post -3.05 EPS for the current year.

Insider Activity at Bicycle Therapeutics

In other Bicycle Therapeutics news, CAO Travis Alvin Thompson sold 6,256 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $25.11, for a total transaction of $157,088.16. Following the transaction, the chief accounting officer now directly owns 19,241 shares in the company, valued at $483,141.51. This trade represents a 24.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Kevin Lee sold 3,212 shares of the business’s stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $22.26, for a total value of $71,499.12. Following the completion of the sale, the chief executive officer now directly owns 380,864 shares of the company’s stock, valued at $8,478,032.64. This represents a 0.84 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,840 shares of company stock valued at $259,128. 8.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Bicycle Therapeutics

Large investors have recently added to or reduced their stakes in the stock. Armistice Capital LLC lifted its stake in shares of Bicycle Therapeutics by 17.9% in the second quarter. Armistice Capital LLC now owns 1,972,000 shares of the company’s stock worth $39,913,000 after buying an additional 300,000 shares during the last quarter. Westfield Capital Management Co. LP raised its holdings in Bicycle Therapeutics by 21.5% in the 3rd quarter. Westfield Capital Management Co. LP now owns 1,850,945 shares of the company’s stock worth $41,887,000 after acquiring an additional 327,089 shares during the period. First Light Asset Management LLC lifted its position in Bicycle Therapeutics by 16.1% during the 2nd quarter. First Light Asset Management LLC now owns 1,384,768 shares of the company’s stock worth $28,028,000 after acquiring an additional 191,717 shares during the last quarter. Point72 Asset Management L.P. boosted its holdings in Bicycle Therapeutics by 1,438.1% during the third quarter. Point72 Asset Management L.P. now owns 899,799 shares of the company’s stock valued at $20,362,000 after acquiring an additional 841,299 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in shares of Bicycle Therapeutics by 0.6% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 888,081 shares of the company’s stock valued at $17,975,000 after purchasing an additional 4,976 shares during the last quarter. Institutional investors own 86.15% of the company’s stock.

About Bicycle Therapeutics

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.