Bicycle Therapeutics (NASDAQ:BCYC) Shares Gap Down to $21.17

Bicycle Therapeutics plc (NASDAQ:BCYC) shares gapped down before the market opened on Thursday . The stock had previously closed at $21.17, but opened at $20.71. Bicycle Therapeutics shares last traded at $20.70, with a volume of 2,398 shares changing hands.

Analysts Set New Price Targets

BCYC has been the subject of several recent analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $65.00 target price on shares of Bicycle Therapeutics in a research note on Thursday, September 7th. Needham & Company LLC restated a “buy” rating and set a $46.00 price objective on shares of Bicycle Therapeutics in a report on Tuesday. B. Riley upgraded Bicycle Therapeutics from a “neutral” rating to a “buy” rating and set a $33.00 target price for the company in a research note on Monday. Morgan Stanley reissued an “equal weight” rating and issued a $42.00 price target on shares of Bicycle Therapeutics in a research note on Friday, August 4th. Finally, JMP Securities restated a “market outperform” rating and issued a $44.00 price target on shares of Bicycle Therapeutics in a report on Tuesday. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $48.75.

Bicycle Therapeutics Stock Up 2.0 %

The stock has a fifty day moving average of $23.31 and a two-hundred day moving average of $23.02. The company has a quick ratio of 5.65, a current ratio of 5.65 and a debt-to-equity ratio of 0.14. The stock has a market cap of $624.89 million, a price-to-earnings ratio of -4.36 and a beta of 0.75.

Bicycle Therapeutics (NASDAQ:BCYC) last released its quarterly earnings data on Thursday, August 3rd. The company reported ($1.41) EPS for the quarter, missing analysts’ consensus estimates of ($1.10) by ($0.31). The firm had revenue of $11.40 million during the quarter, compared to analysts’ expectations of $13.77 million. Bicycle Therapeutics had a negative return on equity of 54.71% and a negative net margin of 621.69%. As a group, analysts predict that Bicycle Therapeutics plc will post -5.25 EPS for the current fiscal year.

Insider Activity at Bicycle Therapeutics

In other Bicycle Therapeutics news, CEO Kevin Lee sold 1,498 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $25.10, for a total transaction of $37,599.80. Following the completion of the sale, the chief executive officer now directly owns 323,601 shares in the company, valued at $8,122,385.10. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Over the last quarter, insiders have sold 2,346 shares of company stock worth $58,885. Company insiders own 10.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Candriam S.C.A. boosted its position in shares of Bicycle Therapeutics by 10.9% in the first quarter. Candriam S.C.A. now owns 1,303,211 shares of the company’s stock worth $25,514,000 after buying an additional 128,000 shares during the period. Sio Capital Management LLC lifted its position in Bicycle Therapeutics by 41.5% during the 1st quarter. Sio Capital Management LLC now owns 967,347 shares of the company’s stock worth $20,575,000 after acquiring an additional 283,922 shares in the last quarter. Armistice Capital LLC purchased a new position in Bicycle Therapeutics in the 1st quarter worth approximately $15,655,000. First Light Asset Management LLC grew its position in Bicycle Therapeutics by 0.4% in the first quarter. First Light Asset Management LLC now owns 699,328 shares of the company’s stock valued at $14,875,000 after acquiring an additional 2,896 shares in the last quarter. Finally, Loomis Sayles & Co. L P raised its stake in shares of Bicycle Therapeutics by 12.9% during the first quarter. Loomis Sayles & Co. L P now owns 643,775 shares of the company’s stock valued at $28,249,000 after purchasing an additional 73,728 shares during the period. 86.15% of the stock is owned by hedge funds and other institutional investors.

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. It is developing BT1718, a bicycle toxin conjugate (BTC), which is in Phase I/IIa clinical trials targeting tumors that express Membrane Type 1 matrix metalloprotease; BT5528, a BTC that is in a Phase I/II clinical trial targeting Ephrin type-A receptor 2; and BT8009, which is in Phase I/II clinical trial targeting Nectin-4.