Bicycle Therapeutics (NASDAQ:BCYC) Stock Price Up 6% – Still a Buy?

Bicycle Therapeutics plc (NASDAQ:BCYC) rose 6% during trading on Wednesday . The stock traded as high as $10.60 and last traded at $10.81. Approximately 4,893 shares were traded 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.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. B. Riley reduced their target price on shares of Bicycle Therapeutics from $28.00 to $17.00 and set a “neutral” rating for the company in a research note on Friday, December 13th. Stephens reaffirmed an “equal weight” rating and set a $15.00 price objective on shares of Bicycle Therapeutics in a research report on Wednesday, January 22nd. HC Wainwright reaffirmed a “buy” rating and set a $33.00 price objective on shares of Bicycle Therapeutics in a research report on Wednesday, February 26th. Needham & Company LLC reissued a “buy” rating and issued a $30.00 target price on shares of Bicycle Therapeutics in a research report on Tuesday. Finally, JMP Securities decreased their price objective on shares of Bicycle Therapeutics from $32.00 to $26.00 and set a “market outperform” rating for the company in a 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’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $29.14.

Bicycle Therapeutics Stock Performance

The business’s 50 day moving average price is $12.60 and its 200-day moving average price is $18.67. The company has a market cap of $734.99 million, a price-to-earnings ratio of -3.23 and a beta of 1.12.

Bicycle Therapeutics (NASDAQ:BCYC) last issued its quarterly earnings data on Tuesday, February 25th. The company reported ($0.75) EPS for the quarter, topping analysts’ consensus estimates of ($0.85) by $0.10. Bicycle Therapeutics had a negative net margin of 450.64% and a negative return on equity of 27.35%. The firm had revenue of $3.70 million for the quarter, compared to analyst estimates of $5.47 million. During the same quarter in the prior year, the firm earned ($1.16) EPS. The company’s revenue was down 30.2% on a year-over-year basis. On average, equities research analysts expect that Bicycle Therapeutics plc will post -3.06 earnings per share for the current fiscal year.

Insider Activity

In other Bicycle Therapeutics news, CTO Michael Skynner sold 3,287 shares of the firm’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 transaction of $46,313.83. Following the completion of the transaction, the chief technology officer now owns 124,658 shares in the company, valued at approximately $1,756,431.22. This trade represents a 2.57 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Travis Alvin Thompson sold 2,686 shares of Bicycle Therapeutics stock in a transaction on Monday, January 6th. The shares were sold at an average price of $15.00, for a total transaction of $40,290.00. Following the completion of the sale, the chief accounting officer now owns 32,146 shares of the company’s stock, valued at $482,190. This represents a 7.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 27,677 shares of company stock worth $392,413 over the last quarter. 8.50% of the stock is currently owned by company insiders.

Institutional Trading of Bicycle Therapeutics

Hedge funds have recently bought and sold shares of the business. Point72 Asset Management L.P. raised its stake in Bicycle Therapeutics by 406.2% in the 4th quarter. Point72 Asset Management L.P. now owns 4,554,900 shares of the company’s stock valued at $63,769,000 after acquiring an additional 3,655,101 shares during the period. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Bicycle Therapeutics by 43.3% in the 4th quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 80,236 shares of the company’s stock worth $1,123,000 after buying an additional 24,260 shares during the last quarter. Millennium Management LLC purchased a new stake in shares of Bicycle Therapeutics during the 4th quarter valued at $2,475,000. Fcpm Iii Services B.V. raised its position in Bicycle Therapeutics by 47.5% in the 4th quarter. Fcpm Iii Services B.V. now owns 3,452,330 shares of the company’s stock worth $48,333,000 after purchasing an additional 1,112,369 shares during the period. Finally, Caption Management LLC purchased a new position in Bicycle Therapeutics in the 4th quarter worth $2,283,000. Institutional investors and hedge funds own 86.15% of the company’s stock.

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.