Bicycle Therapeutics (NASDAQ:BCYC) Stock Price Down 3.5%

Bicycle Therapeutics plc (NASDAQ:BCYC)’s stock price fell 3.5% during mid-day trading on Friday . The company traded as low as $21.40 and last traded at $21.40. 32,057 shares were traded during mid-day trading, a decline of 91% from the average session volume of 357,176 shares. The stock had previously closed at $22.18.

Analyst Ratings Changes

BCYC has been the subject of a number of research reports. HC Wainwright reiterated a “buy” rating and set a $55.00 target price on shares of Bicycle Therapeutics in a research report on Friday, May 3rd. Needham & Company LLC reissued a “buy” rating and issued a $43.00 price objective on shares of Bicycle Therapeutics in a research note on Wednesday, April 10th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $60.00 price target on shares of Bicycle Therapeutics in a report on Wednesday, February 21st. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $46.86.

Bicycle Therapeutics Stock Performance

The company has a quick ratio of 10.42, a current ratio of 10.42 and a debt-to-equity ratio of 0.09. The business has a 50 day moving average price of $23.58 and a 200 day moving average price of $19.87. The stock has a market cap of $918.91 million, a P/E ratio of -4.82 and a beta of 0.90.

Bicycle Therapeutics (NASDAQ:BCYC) last announced its quarterly earnings data on Thursday, May 2nd. The company reported ($0.62) EPS for the quarter, beating the consensus estimate of ($1.25) by $0.63. Bicycle Therapeutics had a negative return on equity of 49.35% and a negative net margin of 404.14%. The company had revenue of $19.53 million for the quarter, compared to the consensus estimate of $6.06 million. The company’s revenue for the quarter was up 298.9% compared to the same quarter last year. As a group, sell-side analysts expect that Bicycle Therapeutics plc will post -4.44 EPS for the current year.

Insider Activity at Bicycle Therapeutics

In related news, CEO Kevin Lee sold 3,158 shares of the business’s stock in a transaction that occurred on 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 owns 387,270 shares in the company, valued at $9,220,898.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 5,312 shares of company stock worth $126,139 in the last 90 days. 8.50% of the stock is owned by corporate insiders.

Institutional Trading of Bicycle Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the company. Baker BROS. Advisors LP increased its position in Bicycle Therapeutics by 176.1% during the 1st quarter. Baker BROS. Advisors LP now owns 4,942,823 shares of the company’s stock valued at $123,076,000 after purchasing an additional 3,152,433 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Bicycle Therapeutics by 45.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 401,646 shares of the company’s stock worth $10,001,000 after buying an additional 124,809 shares in the last quarter. Westfield Capital Management Co. LP lifted its holdings in Bicycle Therapeutics by 13.3% during the first quarter. Westfield Capital Management Co. LP now owns 1,038,917 shares of the company’s stock worth $25,869,000 after buying an additional 121,613 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in Bicycle Therapeutics by 12.8% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 883,105 shares of the company’s stock valued at $21,989,000 after acquiring an additional 100,107 shares in the last quarter. Finally, Concurrent Investment Advisors LLC purchased a new position in shares of Bicycle Therapeutics in the 1st quarter valued at $543,000. 86.15% of the stock is currently owned by institutional investors.

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.