Bicycle Therapeutics (NASDAQ:BCYC) Share Price Crosses Above 50 Day Moving Average – Here’s Why

Shares of Bicycle Therapeutics PLC Sponsored ADR (NASDAQ:BCYC) passed above its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of $3.85 and traded as high as $3.89. Bicycle Therapeutics shares last traded at $3.88, with a volume of 436,242 shares.

Wall Street Analysts Forecast Growth

BCYC has been the subject of a number of analyst reports. Jefferies Financial Group reissued a “buy” rating and issued a $10.00 price objective on shares of Bicycle Therapeutics in a research report on Thursday. Wall Street Zen raised Bicycle Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 15th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Bicycle Therapeutics in a research note on Friday, October 2nd. Needham & Company LLC reduced their price target on Bicycle Therapeutics from $15.00 to $14.00 and set a “buy” rating for the company in a report on Thursday, July 30th. Finally, Zacks Research lowered Bicycle Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 14th. Five equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Bicycle Therapeutics has an average rating of “Hold” and a consensus target price of $13.57.

Bicycle Therapeutics Stock Performance

The firm’s 50-day moving average price is $3.83 and its 200 day moving average price is $4.58.

Bicycle Therapeutics (NASDAQ:BCYC) last released its quarterly earnings data on Thursday, October 29th. The company reported ($0.15) EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.25. The firm had revenue of $34.06 million during the quarter, compared to the consensus estimate of $12.22 million. Bicycle Therapeutics had a negative net margin of 169.75% and a negative return on equity of 25.40%. On average, research analysts forecast that Bicycle Therapeutics PLC Sponsored ADR will post -2.26 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC raised its holdings in shares of Bicycle Therapeutics by 72.8% during the first quarter. Renaissance Technologies LLC now owns 979,300 shares of the company’s stock valued at $4,544,000 after buying an additional 412,700 shares during the last quarter. Rangeley Capital LLC grew its holdings in Bicycle Therapeutics by 76.0% in the 1st quarter. Rangeley Capital LLC now owns 232,260 shares of the company’s stock worth $1,078,000 after buying an additional 100,260 shares in the last quarter. Marquette Asset Management LLC bought a new position in Bicycle Therapeutics in the 2nd quarter worth approximately $309,000. ADAR1 Capital Management LLC acquired a new stake in Bicycle Therapeutics in the 1st quarter valued at approximately $331,000. Finally, Principal Financial Group Inc. increased its position in Bicycle Therapeutics by 2.3% in the 1st quarter. Principal Financial Group Inc. now owns 1,174,625 shares of the company’s stock valued at $5,450,000 after acquiring an additional 26,353 shares during the period. Institutional investors and hedge funds own 86.15% of the company’s stock.

About Bicycle Therapeutics

Bicycle Therapeutics plc is a biopharmaceutical company that develops medicines using its proprietary Bicycle molecule technology. Bicycle molecules are small, constrained peptides designed to bind selectively to biological targets while offering characteristics that may support tissue penetration, rapid clearance, and chemical synthesis. The company is primarily focused on creating therapies for cancer and other serious diseases.

Bicycle Therapeutics’ research programs include targeted therapeutics intended to deliver cytotoxic payloads to tumor cells, as well as immune-modulating treatments designed to activate or direct the immune system within the tumor microenvironment.