Bicycle Therapeutics (NASDAQ:BCYC) Shares Gap Up – Time to Buy?

Bicycle Therapeutics plc (NASDAQ:BCYC) shares gapped up prior to trading on Thursday . The stock had previously closed at $8.73, but opened at $9.25. Bicycle Therapeutics shares last traded at $9.22, with a volume of 238,478 shares traded.

Analyst Ratings Changes

Several analysts have recently commented on the company. B. Riley lowered their price objective on 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 issued a $15.00 price objective on shares of Bicycle Therapeutics in a research report on Wednesday, January 22nd. JMP Securities cut their target price on Bicycle Therapeutics from $32.00 to $26.00 and set a “market outperform” rating on the stock in a research note on Wednesday, December 18th. HC Wainwright reaffirmed a “buy” rating and set a $33.00 target price on shares of Bicycle Therapeutics in a research report on Wednesday, February 26th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $30.00 price objective on shares of Bicycle Therapeutics in a research report on Tuesday, March 11th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Bicycle Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $29.14.

Bicycle Therapeutics Stock Down 2.4 %

The firm’s 50-day simple moving average is $11.32 and its 200-day simple moving average is $17.59. The firm has a market capitalization of $620.74 million, a P/E ratio of -2.73 and a beta of 1.12.

Bicycle Therapeutics (NASDAQ:BCYC) last issued its earnings results on Tuesday, February 25th. The company reported ($0.75) EPS for the quarter, topping the consensus estimate 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 company had revenue of $3.70 million for the quarter, compared to the consensus estimate of $5.47 million. During the same period in the previous year, the firm earned ($1.16) earnings per share. The firm’s revenue for the quarter was down 30.2% on a year-over-year basis. As a group, analysts expect that Bicycle Therapeutics plc will post -3.06 EPS for the current fiscal year.

Insider Transactions at Bicycle Therapeutics

In other news, CTO Michael Skynner sold 3,287 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $14.09, for a total value of $46,313.83. Following the transaction, the chief technology officer now owns 124,658 shares of the company’s stock, valued at $1,756,431.22. This trade represents a 2.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Travis Alvin Thompson sold 2,686 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $15.00, for a total transaction of $40,290.00. Following the completion of the transaction, the chief accounting officer now owns 32,146 shares of the company’s stock, valued at approximately $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 sold 27,677 shares of company stock worth $392,413 over the last quarter. 8.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of BCYC. Barclays PLC lifted its holdings in Bicycle Therapeutics by 878.3% in the 4th quarter. Barclays PLC now owns 2,612 shares of the company’s stock worth $37,000 after purchasing an additional 2,345 shares in the last quarter. Avior Wealth Management LLC bought a new stake in Bicycle Therapeutics in the 4th quarter worth approximately $57,000. JPMorgan Chase & Co. boosted its position in shares of Bicycle Therapeutics by 26.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 8,424 shares of the company’s stock valued at $191,000 after acquiring an additional 1,782 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in shares of Bicycle Therapeutics by 30.7% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 9,329 shares of the company’s stock valued at $131,000 after purchasing an additional 2,191 shares in the last quarter. Finally, Erste Asset Management GmbH purchased a new stake in Bicycle Therapeutics during the third quarter valued at $325,000. Institutional investors 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.