Bicycle Therapeutics (NASDAQ:BCYC) Issues Earnings Results, Misses Estimates By $0.25 EPS

Bicycle Therapeutics (NASDAQ:BCYC) announced its quarterly earnings data on Thursday. The company reported ($0.87) EPS for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.25), FiscalAI reports. Bicycle Therapeutics had a negative net margin of 344.95% and a negative return on equity of 34.63%. The company had revenue of $0.89 million for the quarter, compared to analysts’ expectations of $7.50 million.

Bicycle Therapeutics Price Performance

BCYC traded up $0.08 during midday trading on Friday, hitting $4.80. 400,432 shares of the company’s stock traded hands, compared to its average volume of 385,514. The company has a market cap of $334.59 million, a PE ratio of -1.52 and a beta of 1.56. The stock’s fifty day simple moving average is $5.02 and its 200-day simple moving average is $6.22. Bicycle Therapeutics has a one year low of $4.24 and a one year high of $9.55.

Analysts Set New Price Targets

A number of brokerages recently commented on BCYC. Royal Bank Of Canada lowered their price objective on shares of Bicycle Therapeutics from $11.00 to $7.00 and set a “sector perform” rating on the stock in a research report on Wednesday, March 18th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Bicycle Therapeutics in a research report on Friday, April 10th. Wall Street Zen lowered shares of Bicycle Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday. Oppenheimer cut their price objective on shares of Bicycle Therapeutics from $44.00 to $36.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 18th. Finally, Needham & Company LLC cut their price objective on shares of Bicycle Therapeutics from $24.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday, March 18th. Five investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $14.00.

Insiders Place Their Bets

In related news, CEO Kevin Lee sold 5,967 shares of the firm’s stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $4.91, for a total transaction of $29,297.97. Following the transaction, the chief executive officer owned 613,029 shares of the company’s stock, valued at approximately $3,009,972.39. This trade represents a 0.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 9,992 shares of company stock worth $49,363 over the last 90 days. 22.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Bicycle Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BCYC. GSK plc acquired a new stake in shares of Bicycle Therapeutics in the fourth quarter valued at about $10,829,000. Schroder Investment Management Group acquired a new stake in shares of Bicycle Therapeutics in the fourth quarter valued at about $3,976,000. Woodline Partners LP acquired a new stake in shares of Bicycle Therapeutics in the first quarter valued at about $3,088,000. Birchview Capital LP grew its position in shares of Bicycle Therapeutics by 200.5% in the fourth quarter. Birchview Capital LP now owns 462,700 shares of the company’s stock valued at $3,276,000 after purchasing an additional 308,700 shares during the last quarter. Finally, Millennium Management LLC grew its position in shares of Bicycle Therapeutics by 156.5% in the first quarter. Millennium Management LLC now owns 453,428 shares of the company’s stock valued at $3,850,000 after purchasing an additional 276,671 shares during the last quarter. Institutional investors and hedge funds own 86.15% of the company’s stock.

About Bicycle Therapeutics

Bicycle Therapeutics plc is a clinical-stage biotechnology company specializing in the discovery and development of novel peptide therapeutics based on its proprietary bicyclic peptide platform. The company’s core technology leverages constrained peptide structures that combine the binding specificity of biologics with the favorable tissue-penetration properties of small molecules. This approach is designed to generate highly selective drug candidates with potential applications across a range of therapeutic areas, including oncology, neuroscience and immunology.

Bicycle Therapeutics maintains a diversified pipeline of internally developed programs as well as collaborations with leading pharmaceutical partners.