Bicycle Therapeutics (NASDAQ:BCYC) Stock Price Up 9.3% - Time to Buy?

Bicycle Therapeutics plc (NASDAQ:BCYC - Get Free Report)'s share price shot up 9.3% during mid-day trading on Tuesday . The stock traded as high as $8.17 and last traded at $8.21. 109,343 shares traded hands during mid-day trading, a decline of 72% from the average session volume of 392,645 shares. The stock had previously closed at $7.51.

Analysts Set New Price Targets

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

Bicycle Therapeutics Stock Up 11.0 %

The stock has a market cap of $577.08 million, a PE ratio of -2.57 and a beta of 1.40. The firm's fifty day moving average price is $9.31 and its 200 day moving average price is $15.37.

Bicycle Therapeutics (NASDAQ:BCYC - Get Free Report) last announced 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. The company had revenue of $3.70 million during 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 revenue was down 30.2% on a year-over-year basis. During the same period in the prior year, the company earned ($1.16) earnings per share. As a group, analysts anticipate that Bicycle Therapeutics plc will post -3.06 earnings per share for the current fiscal year.

Institutional Trading of Bicycle Therapeutics

A number of large investors have recently made changes to their positions in BCYC. Exchange Traded Concepts LLC lifted its stake in shares of Bicycle Therapeutics by 90.3% in the 1st quarter. Exchange Traded Concepts LLC now owns 12,764 shares of the company's stock valued at $108,000 after purchasing an additional 6,057 shares during the last quarter. Harbor Capital Advisors Inc. boosted its stake in Bicycle Therapeutics by 12.6% during the first quarter. Harbor Capital Advisors Inc. now owns 148,129 shares of the company's stock worth $1,258,000 after buying an additional 16,624 shares during the period. GAMMA Investing LLC increased its position in Bicycle Therapeutics by 879.5% during the first quarter. GAMMA Investing LLC now owns 8,982 shares of the company's stock valued at $76,000 after acquiring an additional 8,065 shares during the last quarter. Point72 Asset Management L.P. raised its stake in shares of 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 acquiring an additional 3,655,101 shares during the period. Finally, OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Bicycle Therapeutics by 43.3% during the 4th quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 80,236 shares of the company's stock worth $1,123,000 after purchasing an additional 24,260 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.

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