Bicycle Therapeutics (NASDAQ:BCYC) Trading 6% Higher - Still a Buy?

Bicycle Therapeutics plc (NASDAQ:BCYC - Get Free Report) was up 6% during trading on Wednesday . The stock traded as high as $10.60 and last traded at $10.81. Approximately 4,893 shares were traded during mid-day trading, a decline of 98% from the average daily volume of 293,263 shares. The stock had previously closed at $10.20.

Analyst Ratings Changes

Several equities research analysts have recently commented on BCYC shares. Needham & Company LLC reissued a "buy" rating and issued a $30.00 target price on shares of Bicycle Therapeutics in a research note on Tuesday. JMP Securities lowered their target price on Bicycle Therapeutics from $32.00 to $26.00 and set a "market outperform" rating for the company in a research note on Wednesday, December 18th. HC Wainwright reissued a "buy" rating and issued a $33.00 target price on shares of Bicycle Therapeutics in a research note on Wednesday, February 26th. Stephens reissued an "equal weight" rating and issued a $15.00 target price on shares of Bicycle Therapeutics in a research note on Wednesday, January 22nd. Finally, B. Riley lowered their target price on Bicycle Therapeutics from $28.00 to $17.00 and set a "neutral" rating for the company in a research note on Friday, December 13th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $29.14.

Bicycle Therapeutics Stock Performance

The firm has a market capitalization of $669.06 million, a P/E ratio of -2.95 and a beta of 1.12. The company has a 50-day moving average price of $12.44 and a 200-day moving average price of $18.55.

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Bicycle Therapeutics (NASDAQ:BCYC - Get Free Report) last posted its earnings results on Tuesday, February 25th. The company reported ($0.75) earnings per share for the quarter, topping the consensus estimate of ($0.85) by $0.10. The firm 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 company's revenue for the quarter was down 30.2% on a year-over-year basis. During the same period in the previous year, the company posted ($1.16) earnings per share. Equities analysts predict that Bicycle Therapeutics plc will post -3.06 EPS for the current year.

Insiders Place Their Bets

In other news, CAO Travis Alvin Thompson sold 2,686 shares of the business's stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $15.00, for a total value of $40,290.00. Following the sale, the chief accounting officer now directly owns 32,146 shares in the company, valued at $482,190. The trade was a 7.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Bros. Advisors Lp Baker purchased 500,000 shares of the business's stock in a transaction dated Monday, December 16th. The stock was purchased at an average price of $15.34 per share, for a total transaction of $7,670,000.00. Following the completion of the acquisition, the director now owns 9,995,274 shares of the company's stock, valued at approximately $153,327,503.16. This represents a 5.27 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 27,677 shares of company stock worth $392,413. Corporate insiders own 8.50% of the company's stock.

Institutional Trading of Bicycle Therapeutics

A number of institutional investors have recently modified their holdings of BCYC. Principal Financial Group Inc. bought a new stake in shares of Bicycle Therapeutics in the third quarter valued at about $10,028,000. Assetmark Inc. acquired a new stake in shares of Bicycle Therapeutics in the third quarter valued at about $34,000. Crossmark Global Holdings Inc. acquired a new stake in shares of Bicycle Therapeutics in the third quarter valued at about $257,000. L & S Advisors Inc increased its position in shares of Bicycle Therapeutics by 2.4% in the third quarter. L & S Advisors Inc now owns 59,735 shares of the company's stock valued at $1,352,000 after acquiring an additional 1,400 shares during the last quarter. Finally, Westfield Capital Management Co. LP increased its position in shares of Bicycle Therapeutics by 21.5% in the third quarter. Westfield Capital Management Co. LP now owns 1,850,945 shares of the company's stock valued at $41,887,000 after acquiring an additional 327,089 shares during the last quarter. 86.15% of the stock is currently owned by 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.