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

Bicycle Therapeutics plc (NASDAQ:BCYC - Get Free Report)'s share price gapped up before the market opened on Tuesday . The stock had previously closed at $7.07, but opened at $7.28. Bicycle Therapeutics shares last traded at $7.68, with a volume of 94,300 shares trading hands.

Analysts Set New Price Targets

BCYC has been the topic of several research reports. Stephens restated an "equal weight" rating and set a $15.00 price objective on shares of Bicycle Therapeutics in a report on Wednesday, January 22nd. HC Wainwright restated a "buy" rating and issued a $33.00 price objective on shares of Bicycle Therapeutics in a report on Wednesday, February 26th. Finally, Needham & Company LLC restated a "buy" rating and issued a $30.00 price target on shares of Bicycle Therapeutics in a report on Wednesday, April 9th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Bicycle Therapeutics has an average rating of "Moderate Buy" and a consensus price target of $29.14.

Bicycle Therapeutics Stock Down 1.3 %

The business has a 50-day moving average price of $9.40 and a 200-day moving average price of $15.53. The firm has a market capitalization of $511.40 million, a price-to-earnings ratio of -2.25 and a beta of 1.40.

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Baker BROS. Advisors LP raised its stake in Bicycle Therapeutics by 15.8% in the 4th quarter. Baker BROS. Advisors LP now owns 10,885,357 shares of the company's stock worth $152,395,000 after acquiring an additional 1,485,397 shares during the last quarter. Point72 Asset Management L.P. boosted its position in Bicycle Therapeutics by 406.2% in the fourth quarter. Point72 Asset Management L.P. now owns 4,554,900 shares of the company's stock valued at $63,769,000 after buying an additional 3,655,101 shares during the last quarter. Fcpm Iii Services B.V. increased its holdings in Bicycle Therapeutics by 47.5% in the 4th quarter. Fcpm Iii Services B.V. now owns 3,452,330 shares of the company's stock worth $48,333,000 after buying an additional 1,112,369 shares during the period. Candriam S.C.A. raised its position in Bicycle Therapeutics by 3.5% during the 4th quarter. Candriam S.C.A. now owns 1,087,876 shares of the company's stock worth $15,230,000 after buying an additional 37,278 shares during the last quarter. Finally, Long Focus Capital Management LLC acquired a new stake in Bicycle Therapeutics during the 4th quarter valued at approximately $7,603,000. 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.