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

Bicycle Therapeutics plc (NASDAQ:BCYC - Get Free Report)'s share price gapped up prior to trading on Thursday . The stock had previously closed at $8.73, but opened at $9.25. Bicycle Therapeutics shares last traded at $9.22, with a volume of 238,478 shares.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. HC Wainwright reaffirmed a "buy" rating and set a $33.00 target price on shares of Bicycle Therapeutics in a research report on Wednesday, February 26th. JMP Securities lowered 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. Stephens restated an "equal weight" rating and set a $15.00 price target on shares of Bicycle Therapeutics in a report on Wednesday, January 22nd. Needham & Company LLC reiterated a "buy" rating and issued a $30.00 price objective on shares of Bicycle Therapeutics in a research note on Tuesday, March 11th. Finally, B. Riley cut their target price 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. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $29.14.

Bicycle Therapeutics Stock Down 7.9 %

The firm has a 50 day moving average of $11.32 and a 200 day moving average of $17.52. The firm has a market cap of $571.61 million, a PE ratio of -2.51 and a beta of 1.12.

Bicycle Therapeutics (NASDAQ:BCYC - Get Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The company reported ($0.75) EPS for the quarter, beating analysts' consensus estimates of ($0.85) by $0.10. Bicycle Therapeutics had a negative return on equity of 27.35% and a negative net margin of 450.64%. The firm had revenue of $3.70 million for the quarter, compared to analysts' expectations of $5.47 million. During the same quarter in the prior year, the firm earned ($1.16) EPS. The business's revenue for the quarter was down 30.2% compared to the same quarter last year. On average, research analysts anticipate that Bicycle Therapeutics plc will post -3.06 EPS for the current year.

Insider Activity

In other news, COO Alistair Milnes sold 4,578 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $14.09, for a total value of $64,504.02. Following the sale, the chief operating officer now directly owns 100,724 shares of the company's stock, valued at approximately $1,419,201.16. This represents a 4.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Travis Alvin Thompson sold 2,686 shares of the business's stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $15.00, for a total transaction of $40,290.00. Following the transaction, the chief accounting officer now directly owns 32,146 shares of the company's stock, valued at approximately $482,190. This represents a 7.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 27,677 shares of company stock valued at $392,413 over the last quarter. Company insiders own 8.50% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in BCYC. The Manufacturers Life Insurance Company grew its position in Bicycle Therapeutics by 33.2% during the third quarter. The Manufacturers Life Insurance Company now owns 129,705 shares of the company's stock worth $2,935,000 after buying an additional 32,313 shares in the last quarter. FMR LLC purchased a new position in shares of Bicycle Therapeutics during the third quarter worth about $3,406,000. Erste Asset Management GmbH bought a new position in shares of Bicycle Therapeutics in the third quarter worth approximately $325,000. HighVista Strategies LLC raised its stake in Bicycle Therapeutics by 9.7% in the third quarter. HighVista Strategies LLC now owns 139,544 shares of the company's stock valued at $3,158,000 after purchasing an additional 12,289 shares in the last quarter. Finally, Point72 Asset Management L.P. lifted its position in Bicycle Therapeutics by 1,438.1% during the third quarter. Point72 Asset Management L.P. now owns 899,799 shares of the company's stock valued at $20,362,000 after purchasing an additional 841,299 shares during the last quarter. 86.15% of the stock is currently owned by hedge funds and other institutional investors.

Bicycle Therapeutics Company Profile

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.