Bicycle Therapeutics (NASDAQ:BCYC) Posts Earnings Results, Misses Expectations By $0.14 EPS

Bicycle Therapeutics (NASDAQ:BCYC) announced its earnings results on Thursday. The company reported ($0.72) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.14), FiscalAI reports. Bicycle Therapeutics had a negative net margin of 311.11% and a negative return on equity of 32.04%. The firm had revenue of $0.63 million during the quarter, compared to analyst estimates of $4.22 million.

Bicycle Therapeutics Stock Down 3.7%

Shares of BCYC opened at $3.86 on Friday. Bicycle Therapeutics has a 52-week low of $3.80 and a 52-week high of $9.16. The company has a 50-day simple moving average of $4.19 and a 200-day simple moving average of $4.93. The company has a market capitalization of $269.47 million, a PE ratio of -1.41 and a beta of 1.55.

Insider Buying and Selling

In related news, CEO Kevin Lee sold 5,905 shares of the business’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $4.27, for a total transaction of $25,214.35. Following the sale, the chief executive officer owned 605,408 shares of the company’s stock, valued at approximately $2,585,092.16. The trade was a 0.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 9,977 shares of company stock worth $42,702 over the last quarter. 22.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Bicycle Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Marquette Asset Management LLC purchased a new stake in shares of Bicycle Therapeutics during the 2nd quarter worth approximately $309,000. FNY Investment Advisers LLC increased its stake in Bicycle Therapeutics by 247.4% in the 2nd quarter. FNY Investment Advisers LLC now owns 26,250 shares of the company’s stock valued at $111,000 after purchasing an additional 18,693 shares in the last quarter. GAMMA Investing LLC raised its holdings in Bicycle Therapeutics by 512.9% during the second quarter. GAMMA Investing LLC now owns 7,704 shares of the company’s stock worth $33,000 after purchasing an additional 6,447 shares during the last quarter. Flax Pond Capital LLC raised its holdings in Bicycle Therapeutics by 1.4% during the first quarter. Flax Pond Capital LLC now owns 176,136 shares of the company’s stock worth $817,000 after purchasing an additional 2,503 shares during the last quarter. Finally, ADAR1 Capital Management LLC acquired a new position in Bicycle Therapeutics during the first quarter worth $331,000. 86.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on BCYC. Morgan Stanley decreased their price target on shares of Bicycle Therapeutics from $13.00 to $12.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 8th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Bicycle Therapeutics in a research report on Wednesday, July 8th. Jefferies Financial Group restated a “buy” rating and set a $12.00 price target on shares of Bicycle Therapeutics in a research note on Thursday, April 30th. Wall Street Zen raised Bicycle Therapeutics from a “strong sell” rating to a “sell” rating in a report on Saturday, June 27th. Finally, Needham & Company LLC lowered their price objective on shares of Bicycle Therapeutics from $15.00 to $14.00 and set a “buy” rating on the stock in a research report on Thursday. Five equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $13.86.

Bicycle Therapeutics Company Profile

Bicycle Therapeutics plc is a clinical-stage biotechnology company specializing in the discovery and development of novel peptide therapeutics based on its proprietary bicyclic peptide platform. The company’s core technology leverages constrained peptide structures that combine the binding specificity of biologics with the favorable tissue-penetration properties of small molecules. This approach is designed to generate highly selective drug candidates with potential applications across a range of therapeutic areas, including oncology, neuroscience and immunology.

Bicycle Therapeutics maintains a diversified pipeline of internally developed programs as well as collaborations with leading pharmaceutical partners.