Bicycle Therapeutics (NASDAQ:BCYC) Shares Gap Up – Still a Buy?

Shares of Bicycle Therapeutics plc (NASDAQ:BCYC) gapped up before the market opened on Tuesday . The stock had previously closed at $7.07, but opened at $7.28. Bicycle Therapeutics shares last traded at $7.68, with a volume of 94,300 shares.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Stephens restated an “equal weight” rating and issued a $15.00 target price on shares of Bicycle Therapeutics in a research note on Wednesday, January 22nd. HC Wainwright restated a “buy” rating and set a $33.00 price objective on shares of Bicycle Therapeutics in a research note on Wednesday, February 26th. Needham & Company LLC reiterated a “buy” rating and issued a $30.00 target price on shares of Bicycle Therapeutics in a research report on Wednesday, April 9th. Finally, JMP Securities lowered their price target on Bicycle Therapeutics from $32.00 to $26.00 and set a “market outperform” rating for the company in a report on Wednesday, December 18th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $29.14.

Bicycle Therapeutics Stock Performance

The stock has a market capitalization of $525.38 million, a P/E ratio of -2.31 and a beta of 1.40. The stock has a 50 day moving average of $9.77 and a 200 day moving average of $15.90.

Bicycle Therapeutics (NASDAQ:BCYC) last released its quarterly earnings data on Tuesday, February 25th. The company reported ($0.75) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.85) by $0.10. Bicycle Therapeutics had a negative net margin of 450.64% and a negative return on equity of 27.35%. The business had revenue of $3.70 million for the quarter, compared to analysts’ expectations of $5.47 million. During the same quarter last year, the company earned ($1.16) EPS. The company’s revenue for the quarter was down 30.2% compared to the same quarter last year. On average, research analysts anticipate that Bicycle Therapeutics plc will post -3.06 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of BCYC. Baker BROS. Advisors LP lifted its holdings in Bicycle Therapeutics by 15.8% in the fourth quarter. Baker BROS. Advisors LP now owns 10,885,357 shares of the company’s stock worth $152,395,000 after purchasing an additional 1,485,397 shares during the period. Point72 Asset Management L.P. lifted its stake in shares of 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 worth $63,769,000 after acquiring an additional 3,655,101 shares during the period. Fcpm Iii Services B.V. lifted its stake in shares of 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 worth $48,333,000 after acquiring an additional 1,112,369 shares during the period. Candriam S.C.A. boosted its holdings in shares of Bicycle Therapeutics by 3.5% in the fourth quarter. Candriam S.C.A. now owns 1,087,876 shares of the company’s stock valued at $15,230,000 after acquiring an additional 37,278 shares in the last quarter. Finally, Long Focus Capital Management LLC acquired a new position in shares of Bicycle Therapeutics during the fourth quarter valued at approximately $7,603,000. 86.15% of the stock is owned by institutional investors and hedge funds.

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.