Bicycle Therapeutics (NASDAQ:BCYC) Posts Quarterly Earnings Results, Beats Expectations By $0.33 EPS

Bicycle Therapeutics (NASDAQ:BCYC) announced its earnings results on Tuesday. The company reported ($0.77) earnings per share for the quarter, beating the consensus estimate of ($1.10) by $0.33, Briefing.com reports. The business had revenue of $9.36 million for the quarter, compared to the consensus estimate of $6.13 million. Bicycle Therapeutics had a negative net margin of 404.14% and a negative return on equity of 49.35%. The company’s quarterly revenue was down 17.9% on a year-over-year basis.

Bicycle Therapeutics Stock Down 7.5 %

Bicycle Therapeutics stock traded down $1.83 during midday trading on Wednesday, hitting $22.55. 345,410 shares of the company’s stock were exchanged, compared to its average volume of 335,551. The company has a debt-to-equity ratio of 0.09, a quick ratio of 10.42 and a current ratio of 10.42. Bicycle Therapeutics has a 12 month low of $12.54 and a 12 month high of $27.24. The firm has a 50-day moving average of $22.31 and a two-hundred day moving average of $22.42. The company has a market cap of $964.69 million, a PE ratio of -5.07 and a beta of 0.94.

Analyst Upgrades and Downgrades

BCYC has been the topic of a number of research analyst reports. B. Riley cut shares of Bicycle Therapeutics from a “buy” rating to a “neutral” rating and cut their price target for the stock from $33.00 to $28.00 in a report on Wednesday. Needham & Company LLC restated a “buy” rating and issued a $38.00 price target on shares of Bicycle Therapeutics in a report on Wednesday. Oppenheimer restated an “outperform” rating and issued a $48.00 price target on shares of Bicycle Therapeutics in a report on Wednesday. Finally, HC Wainwright restated a “buy” rating and issued a $55.00 price target on shares of Bicycle Therapeutics in a report on Wednesday. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $45.75.

Insiders Place Their Bets

In other Bicycle Therapeutics news, CEO Kevin Lee sold 3,194 shares of the stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $19.64, for a total transaction of $62,730.16. Following the completion of the sale, the chief executive officer now directly owns 384,076 shares of the company’s stock, valued at $7,543,252.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold a total of 4,555 shares of company stock worth $89,460 in the last three months. Corporate insiders own 8.50% of the company’s stock.

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.