Bicycle Therapeutics (NASDAQ:BCYC) Stock Price Up 5.5% – Still a Buy?

Bicycle Therapeutics plc (NASDAQ:BCYC) shares traded up 5.5% during mid-day trading on Wednesday . The company traded as high as $8.34 and last traded at $8.47. 26,431 shares were traded during trading, a decline of 93% from the average session volume of 394,831 shares. The stock had previously closed at $8.03.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. B. Riley reduced their price target on shares of Bicycle Therapeutics from $17.00 to $14.00 and set a “neutral” rating for the company in a research report on Friday, May 2nd. Morgan Stanley set a $17.00 price target on shares of Bicycle Therapeutics and gave the stock an “equal weight” rating in a research report on Monday, May 5th. HC Wainwright reissued a “buy” rating and set a $33.00 price target on shares of Bicycle Therapeutics in a research report on Wednesday, February 26th. Royal Bank of Canada dropped their price objective on shares of Bicycle Therapeutics from $35.00 to $32.00 and set an “outperform” rating on the stock in a research note on Friday, May 2nd. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $29.00 target price on shares of Bicycle Therapeutics in a report on Friday, May 2nd. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Bicycle Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $25.00.

Bicycle Therapeutics Stock Up 2.9%

The company has a market cap of $572.32 million, a PE ratio of -2.51 and a beta of 1.60. The business has a 50-day simple moving average of $8.02 and a 200-day simple moving average of $12.43.

Bicycle Therapeutics (NASDAQ:BCYC) last released its quarterly earnings results on Thursday, May 1st. The company reported ($0.88) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.86) by ($0.02). Bicycle Therapeutics had a negative net margin of 450.64% and a negative return on equity of 27.35%. The company had revenue of $9.98 million during the quarter, compared to analyst estimates of $8.67 million. On average, research analysts forecast that Bicycle Therapeutics plc will post -3.06 EPS for the current fiscal year.

Institutional Investors Weigh In On Bicycle Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the stock. Baker BROS. Advisors LP grew its stake in Bicycle Therapeutics by 15.8% in the 4th quarter. Baker BROS. Advisors LP now owns 10,885,357 shares of the company’s stock valued at $152,395,000 after acquiring an additional 1,485,397 shares during the period. Point72 Asset Management L.P. grew its stake in Bicycle Therapeutics by 406.2% in the 4th quarter. Point72 Asset Management L.P. now owns 4,554,900 shares of the company’s stock valued at $63,769,000 after acquiring an additional 3,655,101 shares during the period. Fcpm Iii Services B.V. grew its stake in Bicycle Therapeutics by 47.5% in the 4th quarter. Fcpm Iii Services B.V. now owns 3,452,330 shares of the company’s stock valued at $48,333,000 after acquiring an additional 1,112,369 shares during the period. Armistice Capital LLC grew its stake in Bicycle Therapeutics by 21.7% in the 1st quarter. Armistice Capital LLC now owns 2,672,000 shares of the company’s stock valued at $22,685,000 after acquiring an additional 476,000 shares during the period. Finally, Westfield Capital Management Co. LP grew its stake in Bicycle Therapeutics by 1.8% in the 1st quarter. Westfield Capital Management Co. LP now owns 2,657,305 shares of the company’s stock valued at $22,561,000 after acquiring an additional 46,968 shares during the period. Institutional investors and hedge funds 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.