Bicycle Therapeutics (NASDAQ:BCYC) Releases Quarterly Earnings Results, Misses Estimates By $0.05 EPS

Bicycle Therapeutics (NASDAQ:BCYCGet Rating) posted its quarterly earnings data on Thursday. The company reported ($0.90) EPS for the quarter, missing the consensus estimate of ($0.85) by ($0.05), Fidelity Earnings reports. Bicycle Therapeutics had a negative return on equity of 30.84% and a negative net margin of 533.03%.

Bicycle Therapeutics Stock Performance

NASDAQ BCYC traded up $0.84 during mid-day trading on Friday, reaching $26.20. 422,445 shares of the stock were exchanged, compared to its average volume of 236,811. The business’s 50 day moving average is $18.41 and its 200-day moving average is $30.08. Bicycle Therapeutics has a 1 year low of $12.08 and a 1 year high of $62.08. The company has a market capitalization of $776.83 million, a P/E ratio of -8.59 and a beta of 0.76. The company has a debt-to-equity ratio of 0.09, a quick ratio of 12.14 and a current ratio of 12.14.

Institutional Trading of Bicycle Therapeutics

A number of hedge funds have recently added to or reduced their stakes in BCYC. JPMorgan Chase & Co. boosted its holdings in Bicycle Therapeutics by 250.2% during the first quarter. JPMorgan Chase & Co. now owns 9,903 shares of the company’s stock worth $434,000 after buying an additional 7,075 shares in the last quarter. Loomis Sayles & Co. L P lifted its holdings in Bicycle Therapeutics by 12.9% during the first quarter. Loomis Sayles & Co. L P now owns 643,775 shares of the company’s stock valued at $28,249,000 after purchasing an additional 73,728 shares in the last quarter. UBS Group AG lifted its holdings in Bicycle Therapeutics by 896.0% during the first quarter. UBS Group AG now owns 8,884 shares of the company’s stock valued at $389,000 after purchasing an additional 7,992 shares in the last quarter. Vident Investment Advisory LLC lifted its holdings in Bicycle Therapeutics by 20.3% during the first quarter. Vident Investment Advisory LLC now owns 21,572 shares of the company’s stock valued at $947,000 after purchasing an additional 3,639 shares in the last quarter. Finally, Engineers Gate Manager LP purchased a new position in Bicycle Therapeutics during the first quarter valued at $341,000. 71.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on BCYC shares. Barclays started coverage on shares of Bicycle Therapeutics in a research note on Thursday, July 28th. They set an “overweight” rating and a $30.00 price target on the stock. B. Riley lowered shares of Bicycle Therapeutics from a “buy” rating to a “neutral” rating and cut their price target for the company from $62.00 to $33.00 in a research note on Wednesday, April 13th. TheStreet lowered shares of Bicycle Therapeutics from a “c-” rating to a “d+” rating in a research note on Thursday, April 21st. JMP Securities restated a “buy” rating and set a $70.00 price target on shares of Bicycle Therapeutics in a research note on Monday, June 6th. Finally, Piper Sandler cut their price target on shares of Bicycle Therapeutics from $76.00 to $37.00 and set an “overweight” rating on the stock in a research note on Monday, May 23rd. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, Bicycle Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $56.92.

Bicycle Therapeutics Company Profile

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Bicycle Therapeutics plc, a clinical-stage biopharmaceutical company, develops a class of medicines for diseases that are underserved by existing therapeutics. Its lead product candidate is BT1718, a bicycle toxin conjugate (BTC), which is in Phase I/IIa clinical trials targeting tumors that express Membrane Type 1 matrix metalloprotease.

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Earnings History for Bicycle Therapeutics (NASDAQ:BCYC)

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