Bicycle Therapeutics (NASDAQ:BCYC) Shares Gap Up to $21.82

Bicycle Therapeutics plc (NASDAQ:BCYC) shares gapped up prior to trading on Thursday . The stock had previously closed at $21.82, but opened at $24.57. Bicycle Therapeutics shares last traded at $22.83, with a volume of 50,325 shares traded.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. HC Wainwright reduced their price target on Bicycle Therapeutics from $57.00 to $55.00 and set a “buy” rating for the company in a research report on Wednesday, February 21st. Needham & Company LLC restated a “buy” rating and issued a $43.00 price target on shares of Bicycle Therapeutics in a research report on Wednesday, April 10th. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $60.00 price target on shares of Bicycle Therapeutics in a research report on Wednesday, February 21st. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $46.86.

Bicycle Therapeutics Price Performance

The company has a debt-to-equity ratio of 0.08, a current ratio of 8.08 and a quick ratio of 8.08. The firm has a 50-day moving average of $23.80 and a 200-day moving average of $19.29. The stock has a market cap of $704.44 million, a PE ratio of -4.57 and a beta of 0.89.

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

Insider Activity at Bicycle Therapeutics

In related news, CEO Kevin Lee sold 3,158 shares of the stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $23.81, for a total transaction of $75,191.98. Following the completion of the transaction, the chief executive officer now directly owns 387,270 shares of the company’s stock, valued at $9,220,898.70. The sale was disclosed in a filing with the SEC, which is available through this link. Over the last three months, insiders sold 5,312 shares of company stock valued at $126,139. Insiders own 10.20% of the company’s stock.

Hedge Funds Weigh In On Bicycle Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its stake in shares of Bicycle Therapeutics by 250.2% in the 1st quarter. JPMorgan Chase & Co. now owns 9,903 shares of the company’s stock valued at $434,000 after purchasing an additional 7,075 shares during the last quarter. Loomis Sayles & Co. L P lifted its stake in shares of Bicycle Therapeutics by 12.9% in the 1st 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 during the last quarter. UBS Group AG lifted its stake in shares of Bicycle Therapeutics by 896.0% in the 1st 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 during the last quarter. Vident Investment Advisory LLC lifted its stake in shares of Bicycle Therapeutics by 20.3% during the 1st quarter. Vident Investment Advisory LLC now owns 21,572 shares of the company’s stock worth $947,000 after acquiring an additional 3,639 shares during the last quarter. Finally, Engineers Gate Manager LP bought a new stake in shares of Bicycle Therapeutics during the 1st quarter worth approximately $341,000. 86.15% of the stock is owned by 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.