Bicycle Therapeutics (NASDAQ:BCYC) Stock Price Down 1.9%

Bicycle Therapeutics plc (NASDAQ:BCYC) shares were down 1.9% during trading on Friday . The company traded as low as $26.48 and last traded at $26.71. Approximately 69,705 shares traded hands during trading, a decline of 79% from the average daily volume of 327,425 shares. The stock had previously closed at $27.24.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on BCYC shares. Oppenheimer reiterated an “outperform” rating and issued a $48.00 price objective on shares of Bicycle Therapeutics in a research report on Wednesday, August 7th. B. Riley downgraded Bicycle Therapeutics from a “buy” rating to a “neutral” rating and dropped their price target for the company from $33.00 to $28.00 in a research report on Wednesday, August 7th. HC Wainwright reissued a “buy” rating and set a $55.00 price objective on shares of Bicycle Therapeutics in a report on Wednesday, August 7th. Royal Bank of Canada started coverage on shares of Bicycle Therapeutics in a research note on Friday, September 6th. They issued an “outperform” rating and a $35.00 target price on the stock. Finally, Needham & Company LLC reissued a “buy” rating and issued a $38.00 price target on shares of Bicycle Therapeutics in a research note on Monday, September 9th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $44.56.

Bicycle Therapeutics Stock Performance

The company has a debt-to-equity ratio of 0.01, a quick ratio of 14.77 and a current ratio of 14.77. The company has a market cap of $1.28 billion, a PE ratio of -6.07 and a beta of 0.90. The business’s 50-day moving average is $23.06 and its 200 day moving average is $23.04.

Bicycle Therapeutics (NASDAQ:BCYC) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.77) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.10) by $0.33. The business had revenue of $9.36 million for the quarter, compared to analyst estimates of $6.13 million. Bicycle Therapeutics had a negative return on equity of 32.80% and a negative net margin of 417.88%. The firm’s revenue was down 17.9% on a year-over-year basis. On average, equities research analysts predict that Bicycle Therapeutics plc will post -3.17 EPS for the current fiscal year.

Insider Transactions at Bicycle Therapeutics

In other Bicycle Therapeutics news, CEO Kevin Lee sold 3,194 shares of the stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $19.64, for a total transaction of $62,730.16. Following the completion of the sale, the chief executive officer now owns 384,076 shares of the company’s stock, valued at approximately $7,543,252.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Over the last 90 days, insiders have sold 4,555 shares of company stock worth $89,460. Insiders own 8.50% of the company’s stock.

Hedge Funds Weigh In On Bicycle Therapeutics

Hedge funds have recently made changes to their positions in the business. PNC Financial Services Group Inc. bought a new position in Bicycle Therapeutics in the fourth quarter worth about $137,000. China Universal Asset Management Co. Ltd. raised its position in shares of Bicycle Therapeutics by 71.4% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 6,859 shares of the company’s stock worth $171,000 after acquiring an additional 2,858 shares in the last quarter. XTX Topco Ltd purchased a new position in shares of Bicycle Therapeutics in the 2nd quarter valued at approximately $206,000. PDS Planning Inc bought a new stake in shares of Bicycle Therapeutics during the first quarter valued at approximately $210,000. Finally, Natixis Advisors LLC purchased a new stake in Bicycle Therapeutics in the second quarter worth $261,000. 86.15% of the stock is owned by hedge funds and other 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.