Bicycle Therapeutics (NASDAQ:BCYC) Trading 4.1% Higher

Bicycle Therapeutics plc (NASDAQ:BCYC)’s stock price was up 4.1% during mid-day trading on Tuesday . The company traded as high as $24.43 and last traded at $24.37. Approximately 25,511 shares changed hands during mid-day trading, a decline of 93% from the average daily volume of 368,284 shares. The stock had previously closed at $23.41.

Analysts Set New Price Targets

BCYC has been the subject of a number of recent analyst reports. HC Wainwright decreased their price target on shares of Bicycle Therapeutics from $57.00 to $55.00 and set a “buy” rating for the company in a report on Wednesday, February 21st. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $60.00 target price on shares of Bicycle Therapeutics in a report on Wednesday, February 21st. Finally, Needham & Company LLC reiterated a “buy” rating and set a $43.00 price target on shares of Bicycle Therapeutics in a report on Wednesday, April 10th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $46.86.

Bicycle Therapeutics Stock Performance

The business has a 50-day moving average of $24.01 and a two-hundred day moving average of $19.40. The company has a debt-to-equity ratio of 0.08, a quick ratio of 8.08 and a current ratio of 8.08.

Bicycle Therapeutics (NASDAQ:BCYC) last announced its quarterly earnings data on Tuesday, February 20th. The company reported ($1.16) earnings per share for the quarter, topping the consensus estimate of ($1.23) by $0.07. The company had revenue of $5.33 million for the quarter, compared to analyst estimates of $11.68 million. Bicycle Therapeutics had a negative return on equity of 57.80% and a negative net margin of 669.72%. On average, sell-side analysts predict that Bicycle Therapeutics plc will post -5.2 earnings per share for the current fiscal year.

Insider Activity

In other Bicycle Therapeutics news, CEO Kevin Lee sold 3,158 shares of Bicycle Therapeutics stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $23.81, for a total transaction of $75,191.98. Following the sale, the chief executive officer now directly owns 387,270 shares of the company’s stock, valued at $9,220,898.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last three months, insiders have sold 5,312 shares of company stock worth $126,139. Corporate insiders own 10.20% of the company’s stock.

Institutional Investors Weigh In On Bicycle Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the company. Woodstock Corp boosted its position in Bicycle Therapeutics by 4.5% in the fourth quarter. Woodstock Corp now owns 21,479 shares of the company’s stock valued at $388,000 after buying an additional 926 shares in the last quarter. BluePath Capital Management LLC bought a new position in shares of Bicycle Therapeutics in the third quarter valued at approximately $31,000. Exchange Traded Concepts LLC boosted its holdings in shares of Bicycle Therapeutics by 34.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 6,727 shares of the company’s stock worth $122,000 after acquiring an additional 1,706 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its position in Bicycle Therapeutics by 71.4% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 6,859 shares of the company’s stock worth $171,000 after acquiring an additional 2,858 shares during the last quarter. Finally, Handelsbanken Fonder AB increased its holdings in Bicycle Therapeutics by 3.9% during the 4th quarter. Handelsbanken Fonder AB now owns 139,800 shares of the company’s stock valued at $2,528,000 after purchasing an additional 5,300 shares in the last quarter. Institutional investors and hedge funds own 86.15% 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.