Bicycle Therapeutics (NASDAQ:BCYC) Shares Gap Up – Time to Buy?

Bicycle Therapeutics plc (NASDAQ:BCYC) gapped up prior to trading on Monday . The stock had previously closed at $13.31, but opened at $13.74. Bicycle Therapeutics shares last traded at $13.79, with a volume of 70,695 shares traded.

Analysts Set New Price Targets

BCYC has been the subject of a number of recent research reports. Stephens assumed coverage on Bicycle Therapeutics in a research note on Friday, November 8th. They set an “equal weight” rating and a $25.00 price objective for the company. HC Wainwright reissued a “buy” rating and issued a $33.00 price objective on shares of Bicycle Therapeutics in a research note on Monday. Needham & Company LLC restated a “buy” rating and set a $32.00 price objective on shares of Bicycle Therapeutics in a research report on Monday. B. Riley dropped their target price on shares of Bicycle Therapeutics from $28.00 to $17.00 and set a “neutral” rating for the company in a report on Friday, December 13th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $35.00 price target on shares of Bicycle Therapeutics in a research note on Friday, November 1st. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.50.

Bicycle Therapeutics Stock Performance

The business’s fifty day simple moving average is $18.18 and its 200-day simple moving average is $21.61. The company has a market capitalization of $1.02 billion, a P/E ratio of -4.50 and a beta of 0.92.

Bicycle Therapeutics (NASDAQ:BCYC) last posted its earnings results on Thursday, October 31st. The company reported ($0.74) EPS for the quarter, topping analysts’ consensus estimates of ($0.78) by $0.04. Bicycle Therapeutics had a negative return on equity of 27.35% and a negative net margin of 450.64%. The company had revenue of $2.68 million for the quarter, compared to the consensus estimate of $6.82 million. During the same period in the previous year, the business earned ($1.26) earnings per share. The firm’s revenue for the quarter was down 50.0% on a year-over-year basis. As a group, analysts forecast that Bicycle Therapeutics plc will post -3.05 EPS for the current year.

Insider Transactions at Bicycle Therapeutics

In other news, CAO Travis Alvin Thompson sold 2,686 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $15.00, for a total transaction of $40,290.00. Following the sale, the chief accounting officer now directly owns 32,146 shares in the company, valued at approximately $482,190. This represents a 7.71 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Alistair Milnes sold 4,578 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $14.09, for a total transaction of $64,504.02. Following the completion of the transaction, the chief operating officer now directly owns 100,724 shares of the company’s stock, valued at approximately $1,419,201.16. The trade was a 4.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 33,933 shares of company stock valued at $549,501 in the last ninety days. Corporate insiders own 8.50% of the company’s stock.

Hedge Funds Weigh In On Bicycle Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. FMR LLC purchased a new stake in Bicycle Therapeutics during the 3rd quarter valued at $3,406,000. The Manufacturers Life Insurance Company increased its position in Bicycle Therapeutics by 33.2% during the third quarter. The Manufacturers Life Insurance Company now owns 129,705 shares of the company’s stock valued at $2,935,000 after acquiring an additional 32,313 shares during the last quarter. Principal Financial Group Inc. purchased a new stake in shares of Bicycle Therapeutics in the third quarter valued at $10,028,000. State Street Corp raised its stake in shares of Bicycle Therapeutics by 233.5% in the third quarter. State Street Corp now owns 86,271 shares of the company’s stock valued at $1,952,000 after acquiring an additional 60,399 shares during the period. Finally, Perceptive Advisors LLC bought a new stake in shares of Bicycle Therapeutics in the 2nd quarter worth about $11,577,000. Hedge funds and other institutional investors own 86.15% of the company’s stock.

Bicycle Therapeutics Company Profile

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.