Bicycle Therapeutics (NASDAQ:BCYC) Stock Price Up 2.5% – Still a Buy?

Bicycle Therapeutics PLC Sponsored ADR (NASDAQ:BCYC) rose 2.5% during trading on Monday . The stock traded as high as $4.24 and last traded at $4.15. Approximately 2,982,046 shares changed hands during mid-day trading, an increase of 790% from the average daily volume of 334,921 shares. The stock had previously closed at $4.05.

Analysts Set New Price Targets

BCYC has been the subject of several recent analyst reports. Citizens Jmp reduced their price objective on shares of Bicycle Therapeutics from $12.00 to $8.00 and set a “market outperform” rating for the company in a research note on Wednesday, March 18th. Citigroup reiterated a “market outperform” rating on shares of Bicycle Therapeutics in a research note on Wednesday, June 3rd. Jefferies Financial Group reiterated a “buy” rating and issued a $12.00 price objective on shares of Bicycle Therapeutics in a research note on Thursday, April 30th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Bicycle Therapeutics in a research note on Friday, April 10th. Finally, Wall Street Zen cut shares of Bicycle Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Sunday, May 10th. Five investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $14.00.

Bicycle Therapeutics Price Performance

The company has a market cap of $289.71 million, a price-to-earnings ratio of -1.32 and a beta of 1.54. The business’s 50-day simple moving average is $4.67 and its 200-day simple moving average is $5.61.

Bicycle Therapeutics (NASDAQ:BCYC) last announced its earnings results on Thursday, April 30th. The company reported ($0.87) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.25). The business had revenue of $0.89 million for the quarter, compared to analyst estimates of $7.50 million. Bicycle Therapeutics had a negative return on equity of 35.74% and a negative net margin of 344.95%. As a group, sell-side analysts forecast that Bicycle Therapeutics PLC Sponsored ADR will post -2.01 EPS for the current year.

Insider Transactions at Bicycle Therapeutics

In other Bicycle Therapeutics news, CEO Kevin Lee sold 5,967 shares of Bicycle Therapeutics stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $4.91, for a total transaction of $29,297.97. Following the completion of the transaction, the chief executive officer owned 613,029 shares in the company, valued at approximately $3,009,972.39. The trade was a 0.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 9,992 shares of company stock worth $49,363 in the last ninety days. Insiders own 8.50% of the company’s stock.

Hedge Funds Weigh In On Bicycle Therapeutics

A number of institutional investors have recently modified their holdings of the company. Fcpm Iii Services B.V. raised its position in shares of Bicycle Therapeutics by 0.5% in the fourth quarter. Fcpm Iii Services B.V. now owns 3,468,430 shares of the company’s stock valued at $24,556,000 after buying an additional 16,100 shares during the last quarter. Armistice Capital LLC raised its position in shares of Bicycle Therapeutics by 8.7% in the fourth quarter. Armistice Capital LLC now owns 3,236,000 shares of the company’s stock valued at $22,911,000 after buying an additional 258,000 shares during the last quarter. Westfield Capital Management Co. LP raised its position in shares of Bicycle Therapeutics by 2.2% in the fourth quarter. Westfield Capital Management Co. LP now owns 3,016,026 shares of the company’s stock valued at $21,353,000 after buying an additional 63,483 shares during the last quarter. GSK plc acquired a new position in shares of Bicycle Therapeutics in the fourth quarter valued at approximately $10,829,000. Finally, Long Focus Capital Management LLC raised its position in shares of Bicycle Therapeutics by 7.7% in the third quarter. Long Focus Capital Management LLC now owns 1,418,695 shares of the company’s stock valued at $10,981,000 after buying an additional 101,402 shares during the last quarter. Institutional investors and hedge funds own 86.15% of the company’s stock.

About Bicycle Therapeutics

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.