Bicycle Therapeutics (NASDAQ:BCYC) Trading Up 2.5% – Still a Buy?

Shares of Bicycle Therapeutics PLC Sponsored ADR (NASDAQ:BCYC) were up 2.5% during mid-day trading on Monday . The stock traded as high as $4.24 and last traded at $4.15. Approximately 2,982,046 shares were traded during mid-day trading, an increase of 790% from the average daily volume of 334,921 shares. The stock had previously closed at $4.05.

Analyst Ratings Changes

Several equities research analysts recently issued reports on BCYC shares. Needham & Company LLC cut their price target on Bicycle Therapeutics from $24.00 to $15.00 and set a “buy” rating for the company in a research note on Wednesday, March 18th. Wall Street Zen cut Bicycle Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Sunday, May 10th. Jefferies Financial Group reiterated a “buy” rating and issued a $12.00 price target on shares of Bicycle Therapeutics in a research note on Thursday, April 30th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Bicycle Therapeutics in a research note on Friday, April 10th. Finally, Citigroup reiterated a “market outperform” rating on shares of Bicycle Therapeutics in a research note on Wednesday, June 3rd. Five investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $14.00.

Bicycle Therapeutics Stock Up 0.5%

The firm has a 50 day simple moving average of $4.64 and a two-hundred day simple moving average of $5.56. The stock has a market capitalization of $282.03 million, a P/E ratio of -1.28 and a beta of 1.54.

Bicycle Therapeutics (NASDAQ:BCYC) last released its earnings results on Thursday, April 30th. The company reported ($0.87) earnings per share for the quarter, missing the consensus estimate of ($0.62) by ($0.25). Bicycle Therapeutics had a negative return on equity of 35.74% and a negative net margin of 344.95%.The business had revenue of $0.89 million for the quarter, compared to the consensus estimate of $7.50 million. On average, research analysts predict that Bicycle Therapeutics PLC Sponsored ADR will post -2.01 earnings per share for the current year.

Insider Activity

In other news, CEO Kevin Lee sold 5,967 shares of the company’s stock in a transaction 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 completion of the transaction, the chief executive officer directly owned 613,029 shares in the company, valued at approximately $3,009,972.39. This represents a 0.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 9,992 shares of company stock worth $49,363 in the last three months. 22.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of BCYC. GSK plc acquired a new position in shares of Bicycle Therapeutics during the fourth quarter worth $10,829,000. Schroder Investment Management Group acquired a new stake in Bicycle Therapeutics in the fourth quarter valued at $3,976,000. Renaissance Technologies LLC increased its holdings in Bicycle Therapeutics by 72.8% in the first quarter. Renaissance Technologies LLC now owns 979,300 shares of the company’s stock valued at $4,544,000 after purchasing an additional 412,700 shares during the period. Woodline Partners LP acquired a new stake in Bicycle Therapeutics in the first quarter valued at $3,088,000. Finally, Birchview Capital LP increased its holdings in 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 period. 86.15% of the stock is currently owned by institutional investors and hedge funds.

Bicycle Therapeutics Company Profile

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.