Bicycle Therapeutics (NASDAQ:BCYC) Shares Gap Up to $21.82

Bicycle Therapeutics plc (NASDAQ:BCYC) shares gapped up prior to trading on Thursday . The stock had previously closed at $21.82, but opened at $24.57. Bicycle Therapeutics shares last traded at $22.83, with a volume of 50,325 shares changing hands.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on BCYC. Canaccord Genuity Group reiterated a “buy” rating and issued a $60.00 price target on shares of Bicycle Therapeutics in a research note on Wednesday, February 21st. JMP Securities decreased their price objective on Bicycle Therapeutics from $44.00 to $32.00 and set a “market outperform” rating for the company in a report on Wednesday, December 20th. HC Wainwright decreased their price objective on Bicycle Therapeutics from $57.00 to $55.00 and set a “buy” rating for the company in a report on Wednesday, February 21st. Finally, Needham & Company LLC restated a “buy” rating and issued a $43.00 price objective on shares of Bicycle Therapeutics in a report on Wednesday, April 10th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Bicycle Therapeutics has an average rating of “Moderate Buy” and an average price target of $47.88.

Bicycle Therapeutics Stock Performance

The company has a debt-to-equity ratio of 0.08, a quick ratio of 8.08 and a current ratio of 8.08. The stock has a fifty day simple moving average of $23.52 and a two-hundred day simple moving average of $19.23. The stock has a market capitalization of $715.25 million, a price-to-earnings ratio of -4.59 and a beta of 0.89.

Bicycle Therapeutics (NASDAQ:BCYC) last issued its quarterly earnings results on Tuesday, February 20th. The company reported ($1.16) earnings per share for the quarter, topping 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 firm had revenue of $5.33 million during the quarter, compared to the consensus estimate of $11.68 million. Analysts forecast that Bicycle Therapeutics plc will post -5.2 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Kevin Lee sold 3,158 shares of the firm’s stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $23.81, for a total value of $75,191.98. Following the completion of the sale, the chief executive officer now directly owns 387,270 shares in the company, valued at approximately $9,220,898.70. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In the last ninety days, insiders sold 5,312 shares of company stock worth $126,139. Company insiders own 10.20% of the company’s stock.

Institutional Trading of Bicycle Therapeutics

Several large investors have recently made changes to their positions in the company. Morgan Stanley grew its stake in shares of Bicycle Therapeutics by 12.7% in the 3rd quarter. Morgan Stanley now owns 1,621,749 shares of the company’s stock valued at $32,581,000 after buying an additional 182,182 shares during the period. Armistice Capital LLC lifted its position in Bicycle Therapeutics by 53.6% in the 4th quarter. Armistice Capital LLC now owns 1,536,000 shares of the company’s stock valued at $27,771,000 after acquiring an additional 536,000 shares in the last quarter. Braidwell LP bought a new position in Bicycle Therapeutics in the 3rd quarter valued at about $25,914,000. Polar Capital Holdings Plc lifted its position in Bicycle Therapeutics by 33.2% in the 3rd quarter. Polar Capital Holdings Plc now owns 1,011,500 shares of the company’s stock valued at $20,321,000 after acquiring an additional 252,000 shares in the last quarter. Finally, Westfield Capital Management Co. LP bought a new position in Bicycle Therapeutics in the 4th quarter valued at about $16,585,000. 86.15% of the stock is currently owned by institutional investors and hedge funds.

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.