Bicycle Therapeutics (NASDAQ:BCYC) Shares Gap Up - Still a Buy?

Bicycle Therapeutics plc (NASDAQ:BCYC - Get Free Report) gapped up prior to trading on Monday . The stock had previously closed at $13.31, but opened at $13.74. Bicycle Therapeutics shares last traded at $13.79, with a volume of 70,695 shares changing hands.

Analysts Set New Price Targets

BCYC has been the topic of a number of analyst reports. B. Riley decreased their price target on Bicycle Therapeutics from $28.00 to $17.00 and set a "neutral" rating on the stock in a research note on Friday, December 13th. Stephens initiated coverage on shares of Bicycle Therapeutics in a research note on Friday, November 8th. They issued an "equal weight" rating and a $25.00 target price on the stock. HC Wainwright reissued a "buy" rating and set a $33.00 price target on shares of Bicycle Therapeutics in a research report on Monday. Royal Bank of Canada restated an "outperform" rating and issued a $35.00 price objective on shares of Bicycle Therapeutics in a research report on Friday, November 1st. Finally, JMP Securities dropped their target price on shares of Bicycle Therapeutics from $32.00 to $26.00 and set a "market outperform" rating for the company in a report on Wednesday, December 18th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $34.50.

Bicycle Therapeutics Price Performance

The stock's 50 day moving average is $18.52 and its 200-day moving average is $21.69. The company has a market capitalization of $1.05 billion, a P/E ratio of -4.61 and a beta of 0.92.

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

Insider Activity

In related news, CAO Travis Alvin Thompson sold 6,256 shares of the company's stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $25.11, for a total value of $157,088.16. Following the sale, the chief accounting officer now owns 19,241 shares in the company, valued at $483,141.51. This represents a 24.54 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Kevin Lee sold 9,038 shares of Bicycle Therapeutics stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $14.09, for a total value of $127,345.42. Following the transaction, the chief executive officer now owns 495,026 shares of the company's stock, valued at $6,974,916.34. The trade was a 1.79 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 33,933 shares of company stock worth $549,501. Corporate insiders own 8.50% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in BCYC. Assetmark Inc. purchased a new position in Bicycle Therapeutics in the 3rd quarter worth approximately $34,000. GAMMA Investing LLC raised its stake in shares of Bicycle Therapeutics by 105.1% in the third quarter. GAMMA Investing LLC now owns 2,026 shares of the company's stock worth $46,000 after purchasing an additional 1,038 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Bicycle Therapeutics by 69.1% during the third quarter. China Universal Asset Management Co. Ltd. now owns 7,138 shares of the company's stock valued at $162,000 after purchasing an additional 2,918 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Bicycle Therapeutics by 26.8% during the third quarter. JPMorgan Chase & Co. now owns 8,424 shares of the company's stock valued at $191,000 after buying an additional 1,782 shares during the last quarter. Finally, XTX Topco Ltd bought a new stake in Bicycle Therapeutics in the 2nd quarter worth about $206,000. Institutional investors 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.