Bicycle Therapeutics (NASDAQ:BCYC) Stock Price Up 9.8% on Earnings Beat

Bicycle Therapeutics (NASDAQ:BCYC) shares rose 9.8% after reporting better-than-expected quarterly earnings, with EPS of ($0.85) surpassing estimates of ($1.05). The stock traded as high as $8.73, closing at $8.98. Analysts have mixed ratings, with a consensus target price of $22.22. CEO Kevin Lee sold 3,231 shares recently, reducing his ownership slightly. The company, focused on developing medicines for underserved diseases, has a market cap of $622.06 million and is backed by significant institutional ownership.

Bicycle Therapeutics PLC Sponsored ADR (NASDAQ:BCYC - Get Free Report) traded up 9.8% on Thursday after the company announced better than expected quarterly earnings. The company traded as high as $8.73 and last traded at $8.98. 137,003 shares traded hands during trading, a decline of 56% from the average session volume of 309,305 shares. The stock had previously closed at $8.18.

The company reported ($0.85) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.05) by $0.20. Bicycle Therapeutics had a negative net margin of 1,257.00% and a negative return on equity of 32.43%.

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Analyst Upgrades and Downgrades

A number of equities analysts recently commented on BCYC shares. Royal Bank Of Canada set a $27.00 price objective on shares of Bicycle Therapeutics and gave the stock an "outperform" rating in a research note on Monday, August 11th. JMP Securities cut their price target on shares of Bicycle Therapeutics from $22.00 to $10.00 and set a "market outperform" rating on the stock in a report on Tuesday, August 12th. Morgan Stanley cut their price target on shares of Bicycle Therapeutics from $17.00 to $13.00 and set an "equal weight" rating on the stock in a report on Tuesday, August 12th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Bicycle Therapeutics in a report on Tuesday, October 14th. Finally, Oppenheimer restated an "outperform" rating and issued a $44.00 price target (down from $48.00) on shares of Bicycle Therapeutics in a research report on Monday, August 11th. Six investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $22.22.

Read Our Latest Analysis on Bicycle Therapeutics

Insider Buying and Selling

In other Bicycle Therapeutics news, CEO Kevin Lee sold 3,231 shares of the stock in a transaction on Friday, October 3rd. The shares were sold at an average price of $8.41, for a total value of $27,172.71. Following the completion of the sale, the chief executive officer owned 475,310 shares in the company, valued at $3,997,357.10. This trade represents a 0.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold a total of 8,527 shares of company stock valued at $71,738 in the last ninety days. Company insiders own 22.90% of the company's stock.

Hedge Funds Weigh In On Bicycle Therapeutics

Hedge funds have recently bought and sold shares of the company. Ausdal Financial Partners Inc. acquired a new stake in Bicycle Therapeutics during the 2nd quarter worth approximately $70,000. Sei Investments Co. bought a new stake in shares of Bicycle Therapeutics in the 2nd quarter worth $74,000. Virtus Investment Advisers LLC grew its stake in shares of Bicycle Therapeutics by 32.6% in the 2nd quarter. Virtus Investment Advisers LLC now owns 10,821 shares of the company's stock worth $75,000 after acquiring an additional 2,659 shares in the last quarter. Ameriprise Financial Inc. bought a new position in Bicycle Therapeutics during the second quarter valued at about $86,000. Finally, State of Tennessee Department of Treasury bought a new position in Bicycle Therapeutics during the second quarter valued at about $100,000. 86.15% of the stock is owned by institutional investors.

Bicycle Therapeutics Stock Up 9.7%

The company has a market cap of $622.06 million, a P/E ratio of -2.55 and a beta of 1.47. The company's 50-day moving average is $7.61 and its two-hundred day moving average is $7.86.

Bicycle Therapeutics Company Profile

(Get Free Report)

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.

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