Bicycle Therapeutics (NASDAQ:BCYC) Trading Up 5.8% After Analyst Upgrade

Bicycle Therapeutics plc (NASDAQ:BCYC)’s share price was up 5.8% on Thursday after JMP Securities raised their price target on the stock from $53.00 to $85.00. JMP Securities currently has an outperform rating on the stock. Bicycle Therapeutics traded as high as $59.75 and last traded at $59.66. Approximately 5,979 shares were traded during mid-day trading, a decline of 99% from the average daily volume of 468,441 shares. The stock had previously closed at $56.38.

A number of other brokerages also recently weighed in on BCYC. HC Wainwright reissued a “buy” rating and set a $65.00 target price (up previously from $39.00) on shares of Bicycle Therapeutics in a research note on Friday, October 8th. Roth Capital lifted their price objective on shares of Bicycle Therapeutics from $35.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday, October 7th. Piper Sandler boosted their price objective on shares of Bicycle Therapeutics from $46.00 to $76.00 and gave the company an “overweight” rating in a research note on Friday, October 8th. Oppenheimer boosted their price target on shares of Bicycle Therapeutics from $47.00 to $65.00 and gave the stock an “outperform” rating in a research note on Friday, October 8th. Finally, Zacks Investment Research lowered shares of Bicycle Therapeutics from a “buy” rating to a “sell” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $67.22.

In other news, CEO Kevin Lee sold 11,225 shares of the stock in a transaction that occurred on Tuesday, August 31st. The stock was sold at an average price of $36.33, for a total transaction of $407,804.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Lee Kalowski sold 12,500 shares of the stock in a transaction on Thursday, July 29th. The shares were sold at an average price of $31.51, for a total value of $393,875.00. Following the transaction, the chief financial officer now directly owns 12,500 shares of the company’s stock, valued at $393,875. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 51,474 shares of company stock worth $1,859,850. Company insiders own 17.90% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in BCYC. WealthShield Partners LLC bought a new position in shares of Bicycle Therapeutics in the second quarter valued at approximately $27,000. Citigroup Inc. raised its holdings in Bicycle Therapeutics by 107.8% in the 2nd quarter. Citigroup Inc. now owns 1,066 shares of the company’s stock valued at $32,000 after acquiring an additional 553 shares during the period. JPMorgan Chase & Co. acquired a new stake in shares of Bicycle Therapeutics during the 1st quarter worth approximately $39,000. Personal CFO Solutions LLC bought a new position in Bicycle Therapeutics in the 2nd quarter valued at approximately $221,000. Finally, Geode Capital Management LLC bought a new position in shares of Bicycle Therapeutics during the second quarter valued at $227,000. 48.67% of the stock is currently owned by institutional investors and hedge funds.

The firm has a market capitalization of $1.52 billion, a price-to-earnings ratio of -19.99 and a beta of -0.42. The business’s fifty day simple moving average is $38.74 and its 200 day simple moving average is $33.55. The company has a debt-to-equity ratio of 0.21, a current ratio of 9.36 and a quick ratio of 9.36.

Bicycle Therapeutics (NASDAQ:BCYC) last issued its quarterly earnings data on Thursday, August 5th. The company reported ($0.74) EPS for the quarter, missing the consensus estimate of ($0.71) by ($0.03). Bicycle Therapeutics had a negative net margin of 546.62% and a negative return on equity of 50.43%. The firm had revenue of $1.79 million for the quarter, compared to analysts’ expectations of $2.51 million. Equities research analysts expect that Bicycle Therapeutics plc will post -2.82 earnings per share for the current fiscal year.

Bicycle Therapeutics Company Profile (NASDAQ:BCYC)

Bicycle Therapeutics Plc is a clinical-stage biopharmaceutical company, which engages in developing a novel class of medicines, which the company refers to as bicycles, for diseases that are underserved by existing therapeutics. The firm utilizes its novel and proprietary phage display screening platform to identify bicycles.

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