Bicycle Therapeutics (NASDAQ:BCYC) Trading 6% Higher – Here’s What Happened

Shares of Bicycle Therapeutics plc (NASDAQ:BCYC) rose 6% on Wednesday . The stock traded as high as $10.60 and last traded at $10.81. Approximately 4,893 shares changed hands during mid-day trading, a decline of 98% from the average daily volume of 293,263 shares. The stock had previously closed at $10.20.

Analyst Ratings Changes

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

Bicycle Therapeutics Trading Down 7.4 %

The firm has a market capitalization of $664.91 million, a price-to-earnings ratio of -2.93 and a beta of 1.12. The business has a 50-day moving average price of $12.44 and a two-hundred day moving average price of $18.55.

Bicycle Therapeutics (NASDAQ:BCYC) last posted its earnings results on Tuesday, February 25th. The company reported ($0.75) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $3.70 million for the quarter, compared to analysts’ expectations of $5.47 million. During the same period last year, the business posted ($1.16) earnings per share. The firm’s quarterly revenue was down 30.2% compared to the same quarter last year. On average, equities research analysts predict that Bicycle Therapeutics plc will post -3.06 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Santiago Arroyo sold 4,943 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $14.09, for a total value of $69,646.87. Following the completion of the sale, the insider now directly owns 69,057 shares of the company’s stock, valued at approximately $973,013.13. This represents a 6.68 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Bros. Advisors Lp Baker bought 500,000 shares of the business’s stock in a transaction on Monday, December 16th. The stock was purchased at an average price of $15.34 per share, with a total value of $7,670,000.00. Following the completion of the transaction, the director now directly owns 9,995,274 shares of the company’s stock, valued at $153,327,503.16. This trade represents a 5.27 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 27,677 shares of company stock worth $392,413. Insiders own 8.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Baker BROS. Advisors LP boosted its position in shares of Bicycle Therapeutics by 15.8% during the 4th quarter. Baker BROS. Advisors LP now owns 10,885,357 shares of the company’s stock valued at $152,395,000 after purchasing an additional 1,485,397 shares in the last quarter. Point72 Asset Management L.P. boosted its holdings in Bicycle Therapeutics by 406.2% during the fourth quarter. Point72 Asset Management L.P. now owns 4,554,900 shares of the company’s stock worth $63,769,000 after buying an additional 3,655,101 shares in the last quarter. Fcpm Iii Services B.V. boosted its holdings in Bicycle Therapeutics by 47.5% during the fourth quarter. Fcpm Iii Services B.V. now owns 3,452,330 shares of the company’s stock worth $48,333,000 after buying an additional 1,112,369 shares in the last quarter. Westfield Capital Management Co. LP increased its holdings in shares of Bicycle Therapeutics by 21.5% in the third quarter. Westfield Capital Management Co. LP now owns 1,850,945 shares of the company’s stock valued at $41,887,000 after buying an additional 327,089 shares in the last quarter. Finally, Candriam S.C.A. lifted its position in shares of Bicycle Therapeutics by 3.5% during the 4th quarter. Candriam S.C.A. now owns 1,087,876 shares of the company’s stock valued at $15,230,000 after acquiring an additional 37,278 shares during the last quarter. 86.15% of the stock is owned by institutional investors and hedge funds.

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.