Bicycle Therapeutics (NASDAQ:BCYC) Releases Quarterly Earnings Results, Misses Expectations By $0.05 EPS

Bicycle Therapeutics (NASDAQ:BCYCGet Rating) released its quarterly earnings data on Thursday. The company reported ($0.90) EPS for the quarter, missing the consensus estimate of ($0.85) by ($0.05), Fidelity Earnings reports. Bicycle Therapeutics had a negative net margin of 568.71% and a negative return on equity of 31.61%.

Bicycle Therapeutics Stock Performance

Shares of NASDAQ BCYC traded up $0.84 during trading on Friday, hitting $26.20. The company had a trading volume of 422,437 shares, compared to its average volume of 413,918. The stock has a 50 day simple moving average of $18.41 and a 200 day simple moving average of $30.08. The firm has a market capitalization of $776.80 million, a P/E ratio of -9.07 and a beta of 0.76. Bicycle Therapeutics has a 12 month low of $12.08 and a 12 month high of $62.08. The company has a debt-to-equity ratio of 0.09, a quick ratio of 12.14 and a current ratio of 12.14.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on BCYC shares. TheStreet cut Bicycle Therapeutics from a “c-” rating to a “d+” rating in a research report on Thursday, April 21st. JMP Securities reaffirmed a “buy” rating and set a $70.00 price objective on shares of Bicycle Therapeutics in a research report on Monday, June 6th. SVB Leerink dropped their price objective on Bicycle Therapeutics from $69.00 to $48.00 and set an “outperform” rating on the stock in a research report on Friday. HC Wainwright dropped their target price on Bicycle Therapeutics from $65.00 to $57.00 and set a “buy” rating on the stock in a research report on Friday. Finally, B. Riley cut Bicycle Therapeutics from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $62.00 to $33.00 in a research report on Wednesday, April 13th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, Bicycle Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $56.92.

Institutional Trading of Bicycle Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in BCYC. Engineers Gate Manager LP bought a new stake in Bicycle Therapeutics during the 1st quarter valued at approximately $341,000. UBS Group AG raised its stake in Bicycle Therapeutics by 896.0% during the 1st quarter. UBS Group AG now owns 8,884 shares of the company’s stock valued at $389,000 after purchasing an additional 7,992 shares during the period. JPMorgan Chase & Co. raised its stake in Bicycle Therapeutics by 250.2% during the 1st quarter. JPMorgan Chase & Co. now owns 9,903 shares of the company’s stock valued at $434,000 after purchasing an additional 7,075 shares during the period. State Street Corp raised its stake in Bicycle Therapeutics by 27.9% during the 1st quarter. State Street Corp now owns 10,687 shares of the company’s stock valued at $469,000 after purchasing an additional 2,333 shares during the period. Finally, Woodline Partners LP bought a new stake in Bicycle Therapeutics during the 1st quarter valued at approximately $788,000. Institutional investors own 71.99% of the company’s stock.

About Bicycle Therapeutics

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Bicycle Therapeutics plc, a clinical-stage biopharmaceutical company, develops a class of medicines for diseases that are underserved by existing therapeutics. Its lead product candidate is BT1718, a bicycle toxin conjugate (BTC), which is in Phase I/IIa clinical trials targeting tumors that express Membrane Type 1 matrix metalloprotease.

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Earnings History for Bicycle Therapeutics (NASDAQ:BCYC)

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