Bicycle Therapeutics (NASDAQ: BCYC) Sets New One-Year Record After Strong Earnings
Shares of Bicycle Therapeutics plc (NASDAQ: BCYC) hit a new 52-week high at midday on Friday following a stronger-than-expected earnings report. The stock traded as high as $ 60.55 and last traded at $ 59.82, with 2165 shares traded in volume. The stock had previously closed at $ 56.97. The company reported ($ 0.59) earnings per share (EPS) for the quarter, beating analyst consensus estimates of ($ 0.61) by $ 0.02. Bicycle Therapeutics recorded a negative net margin of 546.62% and a negative return on equity of 50.43%.
A number of brokerage firms have recently published reports on BCYC. Piper Sandler raised her price target on Bicycle Therapeutics shares from $ 46.00 to $ 76.00 and assigned the company an “overweight” rating in a report released on Friday, October 8. B. Riley increased his price target on Bicycle Therapeutics stock from $ 56.00 to $ 72.00 and gave the stock a “buy” rating in a report released on Friday, October 8. Zacks Investment Research reduced shares of Bicycle Therapeutics from a buy note to a sell note in a report released on Tuesday, October 12. Canaccord Genuity raised its price target on Bicycle Therapeutics shares from $ 40.00 to $ 60.00 and assigned a “buy” rating to the stock in a report released on Monday, October 11. Finally, Oppenheimer raised its price target on Bicycle Therapeutics shares from $ 47.00 to $ 65 and gave the stock an “outperformance” rating in a report released on Friday, October 8. One analyst rated the stock with a sell rating and eight gave the company’s stock a buy rating. Based on MarketBeat data, Bicycle Therapeutics currently has a consensus rating of “Buy” and an average price target of $ 67.22.
Meanwhile, CFO Lee Kalowski sold 7,500 shares of the company in a transaction that took place on Monday, August 23. The shares were sold for an average price of $ 33.02, for a total value of $ 247,650.00. Following the sale, the CFO now owns 7,500 shares of the company, valued at $ 247,650. The transaction was disclosed in a legal file with the SEC, which can be accessed through the SEC’s website. In addition, CEO Kevin Lee sold 1,808 shares of the company in a transaction that took place on Friday, August 27. The shares were sold at an average price of $ 36.02, for a total trade of $ 65,124.16. Following the completion of the sale, the CEO now directly owns 246,893 shares of the company, valued at approximately $ 8,893,085.86. Disclosure of this sale can be found here. In the past ninety days, insiders have sold 38,163 shares of the company valued at $ 1,550,221. Insiders own 17.90% of the shares of the company.
Several hedge funds and other institutional investors have recently bought and sold shares of BCYC. JPMorgan Chase & Co. purchased a new stake in Bicycle Therapeutics shares in the first quarter valued at approximately $ 39,000. Barclays PLC purchased a new stake in Bicycle Therapeutics during the 1st quarter for a value of approximately $ 612,000. Janus Henderson Group PLC purchased a new stake in Bicycle Therapeutics during the 1st quarter for a value of approximately $ 50,654,000. Schonfeld Strategic Advisors LLC purchased a new stake in Bicycle Therapeutics during the 1st quarter for a value of approximately $ 331,000. Finally, Glenmede Trust Co. NA acquired a new stake in Bicycle Therapeutics during the 1st quarter for a value of approximately $ 295,000. 56.76% of the shares are currently held by institutional investors.
The stock’s fifty-day moving average is $ 46.88 and its two-hundred-day moving average is $ 36.41. The company has a current ratio of 9.36, a quick ratio of 9.36 and a debt ratio of 0.21. The company has a market cap of $ 1.67 billion, a P / E ratio of -20.20 and a beta of -0.29.
Bicycle Therapeutics Company Profile (NASDAQ: BCYC)
Bicycle Therapeutics Plc is a clinical-stage biopharmaceutical company engaged in the development of a new class of drugs, which the company calls bicycles, for diseases underserved by existing therapies. The company uses its new proprietary phage display screening platform to identify bicycles.
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