Bicycle Therapeutics (NASDAQ:BCYC) Shares Gap Up – What’s Next?

Bicycle Therapeutics plc (NASDAQ:BCYC) shares gapped up before the market opened 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 trading hands.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. HC Wainwright reiterated a “buy” rating and issued a $33.00 price target on shares of Bicycle Therapeutics in a report on Monday. Needham & Company LLC reiterated a “buy” rating and issued a $32.00 target price on shares of Bicycle Therapeutics in a research note on Monday. Royal Bank of Canada reissued an “outperform” rating and set a $35.00 target price on shares of Bicycle Therapeutics in a research note on Friday, November 1st. Stephens assumed coverage on shares of Bicycle Therapeutics in a report on Friday, November 8th. They issued an “equal weight” rating and a $25.00 price target on the stock. Finally, B. Riley decreased their price objective on shares of Bicycle Therapeutics from $28.00 to $17.00 and set a “neutral” rating for the company in a report on Friday, December 13th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $34.50.

Bicycle Therapeutics Stock Performance

The firm’s fifty day moving average price is $18.18 and its 200 day moving average price is $21.61. The firm has a market cap of $1.02 billion, a P/E ratio of -4.50 and a beta of 0.92.

Bicycle Therapeutics (NASDAQ:BCYC) last posted its earnings results on Thursday, October 31st. The company reported ($0.74) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.78) by $0.04. The company had revenue of $2.68 million during the quarter, compared to analyst estimates of $6.82 million. Bicycle Therapeutics had a negative return on equity of 27.35% and a negative net margin of 450.64%. Bicycle Therapeutics’s revenue was down 50.0% on a year-over-year basis. During the same quarter in the prior year, the business earned ($1.26) earnings per share. As a group, analysts expect that Bicycle Therapeutics plc will post -3.05 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Bicycle Therapeutics news, Director Bros. Advisors Lp Baker purchased 985,397 shares of Bicycle Therapeutics stock in a transaction dated Friday, December 13th. The shares were acquired at an average cost of $13.76 per share, with a total value of $13,559,062.72. Following the completion of the transaction, the director now owns 9,537,643 shares in the company, valued at approximately $131,237,967.68. This trade represents a 11.52 % increase in their position. The transaction 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 firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $15.00, for a total value of $40,290.00. Following the completion of the sale, the chief accounting officer now directly owns 32,146 shares of the company’s stock, valued at $482,190. The trade was a 7.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,933 shares of company stock worth $549,501 in the last three months. 8.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in BCYC. Point72 Asset Management L.P. grew its stake in shares of 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 worth $20,362,000 after acquiring an additional 841,299 shares during the last quarter. Avoro Capital Advisors LLC purchased a new position in shares of Bicycle Therapeutics in the 2nd quarter valued at approximately $14,168,000. Perceptive Advisors LLC acquired a new stake in Bicycle Therapeutics in the 2nd quarter worth approximately $11,577,000. Principal Financial Group Inc. purchased a new stake in Bicycle Therapeutics during the 3rd quarter worth approximately $10,028,000. Finally, Westfield Capital Management Co. LP increased its stake in Bicycle Therapeutics by 21.5% during the 3rd quarter. Westfield Capital Management Co. LP now owns 1,850,945 shares of the company’s stock valued at $41,887,000 after purchasing an additional 327,089 shares in the last quarter. 86.15% of the stock is owned by institutional investors and hedge funds.

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.