Bicycle Therapeutics (NASDAQ:BCYC) Issues Quarterly Earnings Results

Bicycle Therapeutics (NASDAQ:BCYC) issued its quarterly earnings data on Thursday. The company reported ($0.72) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.35), FiscalAI reports. The company had revenue of $0.63 million for the quarter. Bicycle Therapeutics had a negative net margin of 344.95% and a negative return on equity of 35.74%.

Bicycle Therapeutics Stock Performance

NASDAQ BCYC traded up $0.15 on Thursday, reaching $4.01. 418,934 shares of the stock traded hands, compared to its average volume of 428,376. Bicycle Therapeutics has a 12 month low of $3.81 and a 12 month high of $9.16. The company has a market cap of $279.94 million, a price-to-earnings ratio of -1.27 and a beta of 1.55. The company has a fifty day moving average price of $4.21 and a 200-day moving average price of $4.95.

Insider Activity

In other news, CEO Kevin Lee sold 5,905 shares of the firm’s stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $4.27, for a total transaction of $25,214.35. Following the transaction, the chief executive officer owned 605,408 shares in the company, valued at approximately $2,585,092.16. This trade represents a 0.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 9,977 shares of company stock worth $42,702. 22.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Bicycle Therapeutics

Several hedge funds have recently modified their holdings of BCYC. Millennium Management LLC increased its holdings in Bicycle Therapeutics by 156.5% during the first quarter. Millennium Management LLC now owns 453,428 shares of the company’s stock valued at $3,850,000 after buying an additional 276,671 shares during the period. Goldman Sachs Group Inc. bought a new stake in shares of Bicycle Therapeutics in the 1st quarter valued at about $214,000. Woodline Partners LP purchased a new position in shares of Bicycle Therapeutics in the 1st quarter worth approximately $3,088,000. Geode Capital Management LLC lifted its position in Bicycle Therapeutics by 89.0% during the second quarter. Geode Capital Management LLC now owns 40,412 shares of the company’s stock valued at $281,000 after acquiring an additional 19,035 shares during the last quarter. Finally, Legal & General Group Plc lifted its position in Bicycle Therapeutics by 28.9% during the second quarter. Legal & General Group Plc now owns 174,910 shares of the company’s stock valued at $1,214,000 after acquiring an additional 39,252 shares during the last quarter. Hedge funds and other institutional investors own 86.15% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on BCYC. Weiss Ratings reissued a “sell (e+)” rating on shares of Bicycle Therapeutics in a research report on Wednesday, July 8th. Jefferies Financial Group reissued a “buy” rating and issued a $12.00 target price on shares of Bicycle Therapeutics in a research note on Thursday, April 30th. Wall Street Zen raised shares of Bicycle Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 27th. Citigroup reiterated a “market outperform” rating on shares of Bicycle Therapeutics in a report on Wednesday, June 3rd. Finally, Morgan Stanley decreased their price objective on shares of Bicycle Therapeutics from $13.00 to $12.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 8th. Five 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. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $13.86.

About Bicycle Therapeutics

Bicycle Therapeutics plc is a clinical-stage biotechnology company specializing in the discovery and development of novel peptide therapeutics based on its proprietary bicyclic peptide platform. The company’s core technology leverages constrained peptide structures that combine the binding specificity of biologics with the favorable tissue-penetration properties of small molecules. This approach is designed to generate highly selective drug candidates with potential applications across a range of therapeutic areas, including oncology, neuroscience and immunology.

Bicycle Therapeutics maintains a diversified pipeline of internally developed programs as well as collaborations with leading pharmaceutical partners.