Bicycle Therapeutics (NASDAQ:BCYC) Releases Quarterly Earnings Results, Misses Expectations By $0.14 EPS

Bicycle Therapeutics (NASDAQ:BCYC) issued its quarterly earnings data on Thursday. The company reported ($0.72) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.14), FiscalAI reports. Bicycle Therapeutics had a negative return on equity of 35.74% and a negative net margin of 344.95%.The firm had revenue of $0.63 million for the quarter, compared to the consensus estimate of $1.60 million.

Bicycle Therapeutics Trading Down 1.9%

NASDAQ BCYC opened at $3.94 on Friday. The firm has a market capitalization of $274.71 million, a PE ratio of -1.28 and a beta of 1.55. The business’s 50-day moving average price is $4.20 and its two-hundred day moving average price is $4.93. Bicycle Therapeutics has a 12 month low of $3.81 and a 12 month high of $9.16.

Insider Activity at Bicycle Therapeutics

In related news, CEO Kevin Lee sold 5,905 shares of Bicycle Therapeutics stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $4.27, for a total value of $25,214.35. Following the transaction, the chief executive officer directly owned 605,408 shares of the company’s stock, valued at $2,585,092.16. The trade was a 0.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 9,977 shares of company stock valued at $42,702 over the last quarter. 22.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. GSK plc acquired a new position in shares of Bicycle Therapeutics in the 4th quarter worth approximately $10,829,000. Schroder Investment Management Group acquired a new stake in shares of Bicycle Therapeutics during the fourth quarter worth $3,976,000. Renaissance Technologies LLC raised its stake in Bicycle Therapeutics by 72.8% during the first quarter. Renaissance Technologies LLC now owns 979,300 shares of the company’s stock worth $4,544,000 after buying an additional 412,700 shares during the last quarter. Woodline Partners LP acquired a new position in Bicycle Therapeutics in the first quarter valued at $3,088,000. Finally, Birchview Capital LP lifted its holdings in Bicycle Therapeutics by 200.5% in the fourth quarter. Birchview Capital LP now owns 462,700 shares of the company’s stock valued at $3,276,000 after buying an additional 308,700 shares during the period. Institutional investors own 86.15% of the company’s stock.

Analysts Set New Price Targets

BCYC has been the topic of a number of recent research reports. Jefferies Financial Group reissued a “buy” rating and set a $12.00 price target on shares of Bicycle Therapeutics in a research note on Thursday, April 30th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Bicycle Therapeutics in a research note on Wednesday, July 8th. Morgan Stanley dropped their price objective on shares of Bicycle Therapeutics from $13.00 to $12.00 and set an “equal weight” rating for the company in a report on Wednesday, April 8th. Needham & Company LLC cut their target price on shares of Bicycle Therapeutics from $15.00 to $14.00 and set a “buy” rating on the stock in a research report on Thursday. Finally, Citigroup reissued a “market outperform” rating on shares of Bicycle Therapeutics in a report on Wednesday, June 3rd. Five investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $13.86.

Bicycle Therapeutics Company Profile

Bicycle Therapeutics plc is a clinical-stage biotechnology company specializing in the discovery and development of novel peptide therapeutics based on its proprietary bicyclic peptide platform. The company’s core technology leverages constrained peptide structures that combine the binding specificity of biologics with the favorable tissue-penetration properties of small molecules. This approach is designed to generate highly selective drug candidates with potential applications across a range of therapeutic areas, including oncology, neuroscience and immunology.

Bicycle Therapeutics maintains a diversified pipeline of internally developed programs as well as collaborations with leading pharmaceutical partners.