Bicycle Therapeutics (NASDAQ:BCYC) Posts Earnings Results, Beats Expectations By $0.10 EPS

Bicycle Therapeutics (NASDAQ:BCYC) announced its quarterly earnings data on Tuesday. The company reported ($0.75) EPS for the quarter, topping analysts’ consensus estimates of ($0.85) by $0.10, Briefing.com reports. The business had revenue of $3.70 million for the quarter, compared to analyst estimates of $5.47 million. Bicycle Therapeutics had a negative net margin of 450.64% and a negative return on equity of 27.35%. The firm’s revenue for the quarter was down 30.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($1.16) earnings per share.

Bicycle Therapeutics Stock Up 5.1 %

Shares of BCYC traded up $0.57 during trading hours on Wednesday, hitting $11.67. The company had a trading volume of 37,255 shares, compared to its average volume of 300,881. The firm has a market cap of $805.81 million, a price-to-earnings ratio of -3.55 and a beta of 0.93. The business has a fifty day moving average of $13.42 and a 200-day moving average of $19.52. Bicycle Therapeutics has a 12 month low of $10.91 and a 12 month high of $28.67.

Insider Activity

In related news, CTO Michael Skynner sold 3,287 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $14.09, for a total value of $46,313.83. Following the transaction, the chief technology officer now directly owns 124,658 shares in the company, valued at approximately $1,756,431.22. This represents a 2.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Travis Alvin Thompson sold 2,686 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $15.00, for a total transaction of $40,290.00. Following the sale, the chief accounting officer now owns 32,146 shares in the company, valued at $482,190. The trade was a 7.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 27,677 shares of company stock valued at $392,413 over the last ninety days. 8.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

BCYC has been the topic of a number of research reports. 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. B. Riley dropped their price target on shares of Bicycle Therapeutics from $28.00 to $17.00 and set a “neutral” rating on the stock in a research report on Friday, December 13th. HC Wainwright reaffirmed a “buy” rating and set a $33.00 price target on shares of Bicycle Therapeutics in a research report on Wednesday. Needham & Company LLC reaffirmed a “buy” rating and set a $30.00 price target on shares of Bicycle Therapeutics in a research report on Wednesday. Finally, JMP Securities dropped their price target on shares of 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 issued a buy rating to the company. Based on data from MarketBeat.com, Bicycle Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $29.14.

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.