Bicycle Therapeutics (NASDAQ:BCYC) Releases Quarterly Earnings Results, Beats Estimates By $0.10 EPS

Bicycle Therapeutics (NASDAQ:BCYC) released its quarterly earnings results on Tuesday. The company reported ($0.75) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.85) by $0.10, Briefing.com reports. Bicycle Therapeutics had a negative return on equity of 27.35% and a negative net margin of 450.64%. The firm had revenue of $3.70 million for the quarter, compared to the consensus estimate of $5.47 million. During the same period last year, the business posted ($1.16) EPS. The company’s revenue for the quarter was down 30.2% on a year-over-year basis.

Bicycle Therapeutics Price Performance

NASDAQ BCYC traded up $0.37 during trading on Wednesday, hitting $11.47. The company’s stock had a trading volume of 102,256 shares, compared to its average volume of 302,643. The business’s 50 day simple moving average is $13.42 and its 200-day simple moving average is $19.52. The company has a market cap of $791.93 million, a PE ratio of -3.49 and a beta of 0.93. Bicycle Therapeutics has a fifty-two week low of $10.91 and a fifty-two week high of $28.67.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $30.00 price target on shares of Bicycle Therapeutics in a research report on Wednesday. HC Wainwright reiterated a “buy” rating and set a $33.00 target price on shares of Bicycle Therapeutics in a research report on Wednesday. Stephens restated an “equal weight” rating and issued a $15.00 price target on shares of Bicycle Therapeutics in a research report on Wednesday, January 22nd. JMP Securities decreased their target price on shares of 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. Finally, Royal Bank of Canada restated an “outperform” rating and set a $35.00 target price on shares of Bicycle Therapeutics in a research note on Friday, November 1st. Two equities research 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, the company has a consensus rating of “Moderate Buy” and an average price target of $29.14.

Insider Transactions at Bicycle Therapeutics

In other news, Director Bros. Advisors Lp Baker bought 985,397 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was purchased at an average cost of $13.76 per share, with a total value of $13,559,062.72. Following the acquisition, the director now directly owns 9,537,643 shares in the company, valued at $131,237,967.68. This trade represents a 11.52 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Travis Alvin Thompson sold 2,686 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $15.00, for a total value of $40,290.00. Following the completion of the transaction, the chief accounting officer now directly owns 32,146 shares of the company’s stock, valued at $482,190. The trade was a 7.71 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 27,677 shares of company stock worth $392,413. Company insiders own 8.50% of the company’s stock.

About Bicycle Therapeutics

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.