Bicycle Therapeutics (NASDAQ:BCYC) Shares Gap Down - What's Next?

Bicycle Therapeutics plc (NASDAQ:BCYC - Get Free Report)'s stock price gapped down before the market opened on Friday . The stock had previously closed at $20.11, but opened at $17.29. Bicycle Therapeutics shares last traded at $15.28, with a volume of 295,114 shares traded.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on BCYC. JMP Securities reaffirmed a "market outperform" rating and set a $32.00 price objective on shares of Bicycle Therapeutics in a research report on Monday, September 16th. Royal Bank of Canada reiterated an "outperform" rating and issued a $35.00 price objective on shares of Bicycle Therapeutics in a research report on Friday, November 1st. Needham & Company LLC restated a "buy" rating and set a $38.00 price objective on shares of Bicycle Therapeutics in a research report on Thursday, October 31st. Cantor Fitzgerald restated an "overweight" rating on shares of Bicycle Therapeutics in a research note on Monday, September 9th. Finally, B. Riley decreased their price target on shares of Bicycle Therapeutics from $28.00 to $17.00 and set a "neutral" rating on the stock in a research note on Friday. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $38.75.

Bicycle Therapeutics Stock Performance

The company's 50 day moving average price is $22.78 and its 200 day moving average price is $22.75. The company has a market cap of $953.58 million, a price-to-earnings ratio of -4.20 and a beta of 0.86.

Bicycle Therapeutics (NASDAQ:BCYC - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The company reported ($0.74) EPS for the quarter, beating analysts' consensus estimates of ($0.78) by $0.04. The firm had revenue of $2.68 million for the quarter, compared to analyst estimates of $6.82 million. Bicycle Therapeutics had a negative net margin of 450.64% and a negative return on equity of 27.35%. The company's revenue for the quarter was down 50.0% compared to the same quarter last year. During the same period in the previous year, the business earned ($1.26) earnings per share. As a group, analysts predict that Bicycle Therapeutics plc will post -3.05 EPS for the current year.

Insider Activity at Bicycle Therapeutics

In other Bicycle Therapeutics news, CAO Travis Alvin Thompson sold 6,256 shares of the firm's stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $25.11, for a total value of $157,088.16. Following the completion of the sale, the chief accounting officer now owns 19,241 shares in the company, valued at approximately $483,141.51. This trade represents a 24.54 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Kevin Lee sold 3,212 shares of the business's stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $22.26, for a total transaction of $71,499.12. Following the completion of the transaction, the chief executive officer now directly owns 380,864 shares of the company's stock, valued at approximately $8,478,032.64. This represents a 0.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 10,840 shares of company stock valued at $259,128 in the last three months. Corporate insiders own 8.50% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of BCYC. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in shares of Bicycle Therapeutics by 0.6% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 888,081 shares of the company's stock valued at $17,975,000 after purchasing an additional 4,976 shares during the last quarter. Pinnacle Associates Ltd. boosted its stake in Bicycle Therapeutics by 202.2% in the second quarter. Pinnacle Associates Ltd. now owns 242,001 shares of the company's stock valued at $4,898,000 after acquiring an additional 161,911 shares during the last quarter. Natixis Advisors LLC acquired a new stake in Bicycle Therapeutics during the 2nd quarter worth $261,000. TD Asset Management Inc raised its position in shares of Bicycle Therapeutics by 76.7% during the 2nd quarter. TD Asset Management Inc now owns 97,186 shares of the company's stock valued at $1,967,000 after acquiring an additional 42,200 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake in shares of Bicycle Therapeutics by 97.2% in the 2nd quarter. Renaissance Technologies LLC now owns 326,800 shares of the company's stock valued at $6,614,000 after purchasing an additional 161,100 shares during the period. 86.15% of the stock is currently owned by institutional investors.

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.