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 traded.

Analysts Set New Price Targets

BCYC has been the subject of several recent analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $43.00 price target on shares of Bicycle Therapeutics in a research report on Wednesday, April 10th. HC Wainwright lowered their price target on Bicycle Therapeutics from $57.00 to $55.00 and set a “buy” rating for the company in a research report on Wednesday, February 21st. JMP Securities decreased their target price on Bicycle Therapeutics from $44.00 to $32.00 and set a “market outperform” rating for the company in a research report on Wednesday, December 20th. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $60.00 target price on shares of Bicycle Therapeutics in a research report on Wednesday, February 21st. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $47.88.

Bicycle Therapeutics Stock Up 9.1 %

The company has a market capitalization of $715.25 million, a PE ratio of -4.59 and a beta of 0.89. The company’s 50 day moving average is $23.52 and its two-hundred day moving average is $19.23. The company has a quick ratio of 8.08, a current ratio of 8.08 and a debt-to-equity ratio of 0.08.

Bicycle Therapeutics (NASDAQ:BCYC) last posted its earnings results on Tuesday, February 20th. The company reported ($1.16) earnings per share for the quarter, beating the consensus estimate of ($1.23) by $0.07. Bicycle Therapeutics had a negative net margin of 669.72% and a negative return on equity of 57.80%. The company had revenue of $5.33 million during the quarter, compared to analysts’ expectations of $11.68 million. On average, analysts anticipate that Bicycle Therapeutics plc will post -5.2 earnings per share for the current year.

Insider Buying and Selling at Bicycle Therapeutics

In other Bicycle Therapeutics news, CEO Kevin Lee sold 3,158 shares of the stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $23.81, for a total transaction of $75,191.98. Following the completion of the transaction, the chief executive officer now owns 387,270 shares in the company, valued at $9,220,898.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 5,312 shares of company stock worth $126,139 over the last 90 days. 10.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Bicycle Therapeutics

Institutional investors have recently bought and sold shares of the business. BluePath Capital Management LLC bought a new stake in shares of Bicycle Therapeutics in the 3rd quarter worth about $31,000. Tower Research Capital LLC TRC lifted its holdings in shares of Bicycle Therapeutics by 109.7% in the 3rd quarter. Tower Research Capital LLC TRC now owns 2,263 shares of the company’s stock worth $53,000 after acquiring an additional 1,184 shares during the last quarter. Osaic Holdings Inc. lifted its holdings in shares of Bicycle Therapeutics by 118.9% in the 2nd quarter. Osaic Holdings Inc. now owns 2,320 shares of the company’s stock worth $59,000 after acquiring an additional 1,260 shares during the last quarter. Quantbot Technologies LP bought a new stake in shares of Bicycle Therapeutics in the 2nd quarter worth about $60,000. Finally, Natixis bought a new stake in shares of Bicycle Therapeutics in the 4th quarter worth about $107,000. Institutional investors 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.