Bicycle Therapeutics (NASDAQ:BCYC) Trading 5.7% Higher – Here’s What Happened

Bicycle Therapeutics plc (NASDAQ:BCYC)’s stock price was up 5.7% during mid-day trading on Monday . The stock traded as high as $8.53 and last traded at $8.57. Approximately 174,379 shares traded hands during mid-day trading, a decline of 57% from the average daily volume of 403,747 shares. The stock had previously closed at $8.10.

Analyst Upgrades and Downgrades

BCYC has been the topic of a number of recent research reports. Stephens reaffirmed an “equal weight” rating and set a $15.00 price objective on shares of Bicycle Therapeutics in a report on Wednesday, January 22nd. Royal Bank of Canada lowered their price target on Bicycle Therapeutics from $35.00 to $32.00 and set an “outperform” rating on the stock in a research report on Friday, May 2nd. Needham & Company LLC reissued a “buy” rating and set a $29.00 price objective on shares of Bicycle Therapeutics in a report on Friday, May 2nd. Morgan Stanley set a $17.00 target price on shares of Bicycle Therapeutics and gave the company an “equal weight” rating in a research note on Monday, May 5th. Finally, B. Riley dropped their target price on shares of Bicycle Therapeutics from $17.00 to $14.00 and set a “neutral” rating for the company in a research report on Friday, May 2nd. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $25.00.

Bicycle Therapeutics Price Performance

The stock’s 50 day simple moving average is $8.24 and its two-hundred day simple moving average is $13.12. The company has a market capitalization of $597.66 million, a P/E ratio of -2.62 and a beta of 1.60.

Bicycle Therapeutics (NASDAQ:BCYC) last posted its quarterly earnings data on Thursday, May 1st. The company reported ($0.88) earnings per share for the quarter, missing the consensus estimate of ($0.86) by ($0.02). The company had revenue of $9.98 million during the quarter, compared to the consensus estimate of $8.67 million. Bicycle Therapeutics had a negative return on equity of 27.35% and a negative net margin of 450.64%. As a group, equities research analysts expect that Bicycle Therapeutics plc will post -3.06 earnings per share for the current year.

Hedge Funds Weigh In On Bicycle Therapeutics

Hedge funds have recently added to or reduced their stakes in the company. Barclays PLC raised its holdings in Bicycle Therapeutics by 878.3% during 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 during the last quarter. Avior Wealth Management LLC bought a new stake in shares of Bicycle Therapeutics during the fourth quarter worth approximately $57,000. GAMMA Investing LLC lifted its holdings in Bicycle Therapeutics by 879.5% in the first quarter. GAMMA Investing LLC now owns 8,982 shares of the company’s stock valued at $76,000 after buying an additional 8,065 shares during the period. Exchange Traded Concepts LLC boosted its stake in Bicycle Therapeutics by 90.3% in the first quarter. Exchange Traded Concepts LLC now owns 12,764 shares of the company’s stock valued at $108,000 after acquiring an additional 6,057 shares during the last quarter. Finally, Cerity Partners LLC acquired a new stake in Bicycle Therapeutics during the 1st quarter worth $113,000. 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.