Bicycle Therapeutics (NASDAQ:BCYC) Shares Gap Up – Still a Buy?

Bicycle Therapeutics plc (NASDAQ:BCYC) shares gapped up prior to trading on Thursday . The stock had previously closed at $8.73, but opened at $9.25. Bicycle Therapeutics shares last traded at $9.22, with a volume of 238,478 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on BCYC. Needham & Company LLC reiterated a “buy” rating and issued a $30.00 price objective on shares of Bicycle Therapeutics in a report on Tuesday, March 11th. B. Riley lowered their price target on shares of Bicycle Therapeutics from $28.00 to $17.00 and set a “neutral” rating for the company in a research report on Friday, December 13th. JMP Securities cut their price objective on shares of Bicycle Therapeutics from $32.00 to $26.00 and set a “market outperform” rating on the stock in a report on Wednesday, December 18th. HC Wainwright reiterated a “buy” rating and set a $33.00 target price on shares of Bicycle Therapeutics in a report on Wednesday, February 26th. Finally, Stephens restated an “equal weight” rating and issued a $15.00 price target on shares of Bicycle Therapeutics in a research note on Wednesday, January 22nd. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $29.14.

Bicycle Therapeutics Trading Up 5.5 %

The company has a market capitalization of $637.28 million, a PE ratio of -2.80 and a beta of 1.12. The business’s fifty day moving average is $11.62 and its two-hundred day moving average is $17.83.

Bicycle Therapeutics (NASDAQ:BCYC) last posted its quarterly earnings results on Tuesday, February 25th. The company reported ($0.75) earnings per share for the quarter, topping the consensus estimate of ($0.85) by $0.10. Bicycle Therapeutics had a negative return on equity of 27.35% and a negative net margin of 450.64%. The firm had revenue of $3.70 million during the quarter, compared to analysts’ expectations of $5.47 million. During the same quarter in the previous year, the business earned ($1.16) earnings per share. The company’s revenue was down 30.2% on a year-over-year basis. As a group, equities research analysts anticipate that Bicycle Therapeutics plc will post -3.06 EPS for the current year.

Insider Buying and Selling at Bicycle Therapeutics

In other Bicycle Therapeutics news, CAO Travis Alvin Thompson sold 2,686 shares of Bicycle Therapeutics stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $15.00, for a total value of $40,290.00. Following the completion of the sale, the chief accounting officer now owns 32,146 shares of the company’s stock, valued at approximately $482,190. The trade was a 7.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Alistair Milnes sold 4,578 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $14.09, for a total value of $64,504.02. Following the transaction, the chief operating officer now directly owns 100,724 shares in the company, valued at $1,419,201.16. The trade was a 4.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 27,677 shares of company stock worth $392,413. Company insiders own 8.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Point72 Asset Management L.P. lifted its stake in shares of Bicycle Therapeutics by 406.2% in the 4th quarter. Point72 Asset Management L.P. now owns 4,554,900 shares of the company’s stock worth $63,769,000 after purchasing an additional 3,655,101 shares during the period. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Bicycle Therapeutics by 43.3% during the fourth quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 80,236 shares of the company’s stock valued at $1,123,000 after buying an additional 24,260 shares during the last quarter. Millennium Management LLC bought a new position in Bicycle Therapeutics in the fourth quarter worth approximately $2,475,000. Fcpm Iii Services B.V. boosted its stake in shares of Bicycle Therapeutics by 47.5% during the 4th quarter. Fcpm Iii Services B.V. now owns 3,452,330 shares of the company’s stock worth $48,333,000 after acquiring an additional 1,112,369 shares during the last quarter. Finally, Caption Management LLC bought a new stake in shares of Bicycle Therapeutics during the 4th quarter valued at $2,283,000. 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.