Bicycle Therapeutics (NASDAQ:BCYC) Releases Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Bicycle Therapeutics (NASDAQ:BCYC) posted its quarterly earnings data on Thursday. The company reported ($0.74) EPS for the quarter, beating analysts’ consensus estimates of ($0.78) by $0.04, Briefing.com reports. The company had revenue of $2.68 million during the quarter, compared to analysts’ expectations of $6.82 million. Bicycle Therapeutics had a negative return on equity of 32.80% and a negative net margin of 417.88%. Bicycle Therapeutics’s revenue for the quarter was down 50.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($1.26) earnings per share.

Bicycle Therapeutics Stock Performance

NASDAQ:BCYC opened at $22.71 on Friday. The stock has a 50-day moving average price of $24.19 and a 200 day moving average price of $23.12. The company has a current ratio of 14.77, a quick ratio of 14.77 and a debt-to-equity ratio of 0.01. Bicycle Therapeutics has a 12-month low of $12.54 and a 12-month high of $28.67. The stock has a market capitalization of $1.08 billion, a P/E ratio of -6.90 and a beta of 0.89.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on BCYC shares. Needham & Company LLC reaffirmed a “buy” rating and set a $38.00 price target on shares of Bicycle Therapeutics in a research report on Thursday. Cantor Fitzgerald reiterated an “overweight” rating on shares of Bicycle Therapeutics in a research report on Monday, September 9th. Oppenheimer reiterated an “outperform” rating and set a $48.00 price target on shares of Bicycle Therapeutics in a research note on Wednesday, August 7th. B. Riley lowered Bicycle Therapeutics from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $33.00 to $28.00 in a research note on Wednesday, August 7th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $35.00 target price on shares of Bicycle Therapeutics in a research report on Friday. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $44.56.

Insiders Place Their Bets

In related news, CEO Kevin Lee sold 3,212 shares of the firm’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $22.26, for a total transaction of $71,499.12. Following the completion of the transaction, the chief executive officer now directly owns 380,864 shares of the company’s stock, valued at approximately $8,478,032.64. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold 4,584 shares of company stock worth $102,040 in the last three months. 8.50% of the stock is owned by company insiders.

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.