Bicycle Therapeutics (NASDAQ:BCYC) Issues Earnings Results

Bicycle Therapeutics (NASDAQ:BCYC) issued its earnings results on Thursday. The company reported ($0.87) EPS for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.25), FiscalAI reports. The company had revenue of $0.89 million during the quarter, compared to the consensus estimate of $7.50 million. Bicycle Therapeutics had a negative return on equity of 33.21% and a negative net margin of 301.66%.

Bicycle Therapeutics Stock Down 0.2%

Shares of NASDAQ BCYC traded down $0.01 during midday trading on Thursday, reaching $4.72. 615,153 shares of the company’s stock traded hands, compared to its average volume of 371,010. The stock’s 50 day simple moving average is $5.02 and its 200-day simple moving average is $6.22. Bicycle Therapeutics has a one year low of $4.24 and a one year high of $9.55. The company has a market cap of $329.03 million, a price-to-earnings ratio of -1.49 and a beta of 1.65.

Analyst Ratings Changes

A number of brokerages have commented on BCYC. Morgan Stanley dropped their target price on shares of Bicycle Therapeutics from $13.00 to $12.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 8th. Needham & Company LLC dropped their price objective on shares of Bicycle Therapeutics from $24.00 to $15.00 and set a “buy” rating on the stock in a research note on Wednesday, March 18th. Jefferies Financial Group reiterated a “buy” rating and set a $12.00 price objective on shares of Bicycle Therapeutics in a research note on Thursday. Wall Street Zen upgraded shares of Bicycle Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, March 21st. Finally, Citizens Jmp dropped their price objective on shares of Bicycle Therapeutics from $12.00 to $8.00 and set a “market outperform” rating on the stock in a research note on Wednesday, March 18th. Six equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $14.11.

Insider Buying and Selling

In related news, CEO Kevin Lee sold 5,967 shares of the stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $4.91, for a total transaction of $29,297.97. Following the completion of the sale, the chief executive officer owned 613,029 shares of the company’s stock, valued at $3,009,972.39. This represents a 0.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 9,992 shares of company stock worth $49,363 over the last three months. Corporate insiders own 22.90% of the company’s stock.

Institutional Investors Weigh In On Bicycle Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of BCYC. GSK plc purchased a new stake in Bicycle Therapeutics during the fourth quarter valued at approximately $10,829,000. Schroder Investment Management Group purchased a new stake in Bicycle Therapeutics during the fourth quarter valued at approximately $3,976,000. Woodline Partners LP purchased a new stake in Bicycle Therapeutics during the first quarter valued at approximately $3,088,000. Birchview Capital LP lifted its position in Bicycle Therapeutics by 200.5% during the fourth quarter. Birchview Capital LP now owns 462,700 shares of the company’s stock valued at $3,276,000 after acquiring an additional 308,700 shares during the last quarter. Finally, Millennium Management LLC lifted its position in Bicycle Therapeutics by 156.5% during the first quarter. Millennium Management LLC now owns 453,428 shares of the company’s stock valued at $3,850,000 after acquiring an additional 276,671 shares during the last quarter. Hedge funds and other institutional investors own 86.15% of the company’s stock.

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.