Bicycle Therapeutics (NASDAQ:BCYC) Shares Gap Up – Here’s Why

Bicycle Therapeutics plc (NASDAQ:BCYC)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $8.73, but opened at $9.25. Bicycle Therapeutics shares last traded at $9.22, with a volume of 238,478 shares.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. HC Wainwright reaffirmed a “buy” rating and issued a $33.00 price target on shares of Bicycle Therapeutics in a report on Wednesday, February 26th. JMP Securities lowered their target price on shares of Bicycle Therapeutics from $32.00 to $26.00 and set a “market outperform” rating on the stock in a research note on Wednesday, December 18th. Needham & Company LLC reissued a “buy” rating and issued a $30.00 price target on shares of Bicycle Therapeutics in a research note on Tuesday, March 11th. B. Riley decreased their price target on shares of Bicycle Therapeutics from $28.00 to $17.00 and set a “neutral” rating on the stock in a report on Friday, December 13th. Finally, Stephens reaffirmed an “equal weight” rating and set a $15.00 price objective on shares of Bicycle Therapeutics in a report on Wednesday, January 22nd. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Bicycle Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.14.

Bicycle Therapeutics Trading Up 5.5 %

The company has a market cap of $637.28 million, a P/E ratio of -2.80 and a beta of 1.12. The company’s fifty day moving average is $11.62 and its 200 day moving average is $17.83.

Bicycle Therapeutics (NASDAQ:BCYC) last released its quarterly earnings data on Tuesday, February 25th. The company reported ($0.75) EPS for the quarter, topping the consensus estimate of ($0.85) by $0.10. The firm had revenue of $3.70 million for the quarter, compared to the consensus estimate of $5.47 million. Bicycle Therapeutics had a negative return on equity of 27.35% and a negative net margin of 450.64%. The company’s quarterly revenue was down 30.2% on a year-over-year basis. During the same quarter in the previous year, the business earned ($1.16) earnings per share. Analysts anticipate that Bicycle Therapeutics plc will post -3.06 EPS for the current year.

Insider Transactions at Bicycle Therapeutics

In other Bicycle Therapeutics news, insider Santiago Arroyo sold 4,943 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $14.09, for a total transaction of $69,646.87. Following the completion of the sale, the insider now owns 69,057 shares of the company’s stock, valued at $973,013.13. This represents a 6.68 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Alistair Milnes sold 4,578 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $14.09, for a total transaction of $64,504.02. Following the completion of the transaction, the chief operating officer now owns 100,724 shares in the company, valued at $1,419,201.16. The trade was a 4.35 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 27,677 shares of company stock worth $392,413. Insiders own 8.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Barclays PLC increased its stake in shares of Bicycle Therapeutics by 878.3% during the fourth quarter. Barclays PLC now owns 2,612 shares of the company’s stock valued at $37,000 after buying an additional 2,345 shares during the period. Avior Wealth Management LLC bought a new stake in Bicycle Therapeutics in the fourth quarter valued at $57,000. China Universal Asset Management Co. Ltd. increased its position in Bicycle Therapeutics by 30.7% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 9,329 shares of the company’s stock valued at $131,000 after purchasing an additional 2,191 shares during the period. JPMorgan Chase & Co. raised its holdings in Bicycle Therapeutics by 26.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 8,424 shares of the company’s stock worth $191,000 after purchasing an additional 1,782 shares in the last quarter. Finally, Erste Asset Management GmbH bought a new stake in shares of Bicycle Therapeutics during the 3rd quarter valued at about $325,000. Institutional investors own 86.15% 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.