Bicycle Therapeutics (NASDAQ:BCYC) Shares Gap Up – Here’s Why

Shares of Bicycle Therapeutics plc (NASDAQ:BCYC) gapped up prior to trading on Monday . The stock had previously closed at $13.31, but opened at $13.74. Bicycle Therapeutics shares last traded at $13.79, with a volume of 70,695 shares.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on BCYC. Needham & Company LLC reissued a “buy” rating and set a $32.00 target price on shares of Bicycle Therapeutics in a report on Monday. B. Riley reduced their target price on shares of Bicycle Therapeutics from $28.00 to $17.00 and set a “neutral” rating for the company in a research report on Friday, December 13th. HC Wainwright reissued a “buy” rating and issued a $33.00 price target on shares of Bicycle Therapeutics in a research note on Monday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $35.00 price objective on shares of Bicycle Therapeutics in a research note on Friday, November 1st. Finally, JMP Securities decreased their target price on shares of Bicycle Therapeutics from $32.00 to $26.00 and set a “market outperform” rating on the stock in a research note on Wednesday, December 18th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $34.50.

Bicycle Therapeutics Trading Up 10.7 %

The firm’s fifty day simple moving average is $18.52 and its two-hundred day simple moving average is $21.69. The company has a market capitalization of $1.02 billion, a price-to-earnings ratio of -4.48 and a beta of 0.92.

Bicycle Therapeutics (NASDAQ:BCYC) last released its quarterly earnings data on Thursday, October 31st. The company reported ($0.74) EPS for the quarter, beating analysts’ consensus estimates of ($0.78) by $0.04. The firm had revenue of $2.68 million for the quarter, compared to analysts’ expectations of $6.82 million. Bicycle Therapeutics had a negative return on equity of 27.35% and a negative net margin of 450.64%. The firm’s quarterly revenue was down 50.0% on a year-over-year basis. During the same period in the prior year, the firm posted ($1.26) earnings per share. As a group, analysts forecast that Bicycle Therapeutics plc will post -3.05 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Santiago Arroyo sold 4,943 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $14.09, for a total transaction of $69,646.87. Following the transaction, the insider now owns 69,057 shares of the company’s stock, valued at approximately $973,013.13. This represents a 6.68 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Travis Alvin Thompson sold 2,686 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $15.00, for a total value of $40,290.00. Following the transaction, the chief accounting officer now owns 32,146 shares of the company’s stock, valued at $482,190. This trade represents a 7.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,933 shares of company stock valued at $549,501. 8.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. FMR LLC purchased a new position in Bicycle Therapeutics in the third quarter valued at $3,406,000. The Manufacturers Life Insurance Company raised its position in Bicycle Therapeutics by 33.2% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 129,705 shares of the company’s stock valued at $2,935,000 after purchasing an additional 32,313 shares in the last quarter. Principal Financial Group Inc. purchased a new position in shares of Bicycle Therapeutics in the 3rd quarter valued at about $10,028,000. State Street Corp grew its position in shares of Bicycle Therapeutics by 233.5% during the third quarter. State Street Corp now owns 86,271 shares of the company’s stock worth $1,952,000 after buying an additional 60,399 shares in the last quarter. Finally, Perceptive Advisors LLC purchased a new stake in shares of Bicycle Therapeutics during the second quarter worth approximately $11,577,000. Institutional investors and hedge funds own 86.15% of the company’s stock.

About Bicycle Therapeutics

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.