Bicycle Therapeutics (NASDAQ:BCYC) Shares Down 5.8%

Bicycle Therapeutics plc (NASDAQ:BCYC) fell 5.8% on Friday . The company traded as low as $23.00 and last traded at $23.08. 469,718 shares traded hands during mid-day trading, an increase of 23% from the average session volume of 381,422 shares. The stock had previously closed at $24.49.

Analysts Set New Price Targets

A number of research firms have recently weighed in on BCYC. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $60.00 price objective on shares of Bicycle Therapeutics in a research note on Wednesday, February 21st. HC Wainwright dropped their price objective on Bicycle Therapeutics from $57.00 to $55.00 and set a “buy” rating for the company in a research note on Wednesday, February 21st. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $43.00 price objective on shares of Bicycle Therapeutics in a research note on Wednesday, April 10th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.88.

Bicycle Therapeutics Stock Performance

The company has a debt-to-equity ratio of 0.08, a current ratio of 8.08 and a quick ratio of 8.08. The business has a 50-day simple moving average of $23.68 and a 200-day simple moving average of $19.27. The firm has a market capitalization of $693.32 million, a PE ratio of -4.76 and a beta of 0.89.

Bicycle Therapeutics (NASDAQ:BCYC) last issued its quarterly earnings data on Tuesday, February 20th. The company reported ($1.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.23) by $0.07. Bicycle Therapeutics had a negative return on equity of 57.80% and a negative net margin of 669.72%. The business had revenue of $5.33 million for the quarter, compared to the consensus estimate of $11.68 million. Equities research analysts expect that Bicycle Therapeutics plc will post -5.2 earnings per share for the current fiscal year.

Insider Transactions at Bicycle Therapeutics

In other news, CEO Kevin Lee sold 3,158 shares of the stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $23.81, for a total value of $75,191.98. Following the sale, the chief executive officer now directly owns 387,270 shares in the company, valued at $9,220,898.70. The sale was disclosed in a document filed with the SEC, which is available at this link. Over the last three months, insiders have sold 5,312 shares of company stock worth $126,139. 10.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of BCYC. JPMorgan Chase & Co. grew its stake in Bicycle Therapeutics by 250.2% in the first quarter. JPMorgan Chase & Co. now owns 9,903 shares of the company’s stock worth $434,000 after purchasing an additional 7,075 shares in the last quarter. Loomis Sayles & Co. L P boosted its position in Bicycle Therapeutics by 12.9% during the 1st quarter. Loomis Sayles & Co. L P now owns 643,775 shares of the company’s stock valued at $28,249,000 after acquiring an additional 73,728 shares in the last quarter. UBS Group AG boosted its position in Bicycle Therapeutics by 896.0% during the 1st quarter. UBS Group AG now owns 8,884 shares of the company’s stock valued at $389,000 after acquiring an additional 7,992 shares in the last quarter. Vident Investment Advisory LLC boosted its position in Bicycle Therapeutics by 20.3% during the 1st quarter. Vident Investment Advisory LLC now owns 21,572 shares of the company’s stock valued at $947,000 after acquiring an additional 3,639 shares in the last quarter. Finally, Engineers Gate Manager LP bought a new stake in Bicycle Therapeutics during the 1st quarter valued at $341,000. 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.