Bicycle Therapeutics (NASDAQ:BCYC) Stock Price Down 3.8%

Bicycle Therapeutics plc (NASDAQ:BCYC) shares were down 3.8% during mid-day trading on Monday . The company traded as low as $23.46 and last traded at $23.64. Approximately 121,193 shares changed hands during trading, a decline of 67% from the average daily volume of 370,754 shares. The stock had previously closed at $24.58.

Analyst Ratings Changes

A number of analysts have recently issued reports on BCYC shares. Needham & Company LLC restated a “buy” rating and set a $43.00 price objective on shares of Bicycle Therapeutics in a research report on Wednesday, April 10th. Canaccord Genuity Group restated a “buy” rating and set a $60.00 price objective on shares of Bicycle Therapeutics in a research report on Wednesday, February 21st. Finally, HC Wainwright reiterated a “buy” rating and issued a $55.00 price target on shares of Bicycle Therapeutics in a research report on Friday, May 3rd. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $46.86.

Bicycle Therapeutics Stock Up 2.3 %

The firm has a fifty day moving average price of $23.87 and a 200 day moving average price of $19.60. The company has a quick ratio of 10.42, a current ratio of 10.42 and a debt-to-equity ratio of 0.09. The company has a market cap of $709.54 million, a P/E ratio of -5.31 and a beta of 0.90.

Bicycle Therapeutics (NASDAQ:BCYC) last issued its quarterly earnings results on Thursday, May 2nd. The company reported ($0.62) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.25) by $0.63. Bicycle Therapeutics had a negative return on equity of 49.35% and a negative net margin of 404.14%. The business had revenue of $19.53 million for the quarter, compared to analyst estimates of $6.06 million. The business’s revenue for the quarter was up 298.9% compared to the same quarter last year. Equities research analysts forecast that Bicycle Therapeutics plc will post -5.13 earnings per share for the current year.

Insider Buying and Selling at Bicycle Therapeutics

In other Bicycle Therapeutics news, CEO Kevin Lee sold 3,158 shares of the stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $23.81, for a total value of $75,191.98. Following the transaction, the chief executive officer now owns 387,270 shares of the company’s stock, valued at $9,220,898.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Over the last quarter, insiders have sold 5,312 shares of company stock valued at $126,139. 8.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of BCYC. Woodstock Corp grew its stake in Bicycle Therapeutics by 4.5% in the fourth quarter. Woodstock Corp now owns 21,479 shares of the company’s stock valued at $388,000 after purchasing an additional 926 shares in the last quarter. BluePath Capital Management LLC acquired a new stake in shares of Bicycle Therapeutics in the third quarter valued at approximately $31,000. Exchange Traded Concepts LLC lifted its position in shares of Bicycle Therapeutics by 34.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 6,727 shares of the company’s stock valued at $122,000 after buying an additional 1,706 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its position in shares of Bicycle Therapeutics by 71.4% in the first quarter. China Universal Asset Management Co. Ltd. now owns 6,859 shares of the company’s stock valued at $171,000 after buying an additional 2,858 shares during the last quarter. Finally, Handelsbanken Fonder AB lifted its position in shares of Bicycle Therapeutics by 3.9% in the fourth quarter. Handelsbanken Fonder AB now owns 139,800 shares of the company’s stock valued at $2,528,000 after buying an additional 5,300 shares during the last quarter. 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.