Bicycle Therapeutics (NASDAQ:BCYC) Sets New 12-Month High at $45.00

Shares of Bicycle Therapeutics plc (NASDAQ:BCYC) reached a new 52-week high on Wednesday . The company traded as high as $45.00 and last traded at $43.53, with a volume of 8583 shares traded. The stock had previously closed at $40.00.

A number of analysts have recently weighed in on BCYC shares. Zacks Investment Research downgraded shares of Bicycle Therapeutics from a “buy” rating to a “hold” rating in a research report on Friday, August 6th. Canaccord Genuity raised their price target on shares of Bicycle Therapeutics from $30.00 to $36.00 and gave the stock a “buy” rating in a research report on Tuesday, July 13th. JMP Securities reissued a “buy” rating and set a $53.00 price target on shares of Bicycle Therapeutics in a research report on Wednesday, August 11th. Finally, Piper Sandler raised their price target on shares of Bicycle Therapeutics from $39.00 to $46.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 13th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $44.43.

The company has a 50 day moving average of $33.46 and a 200-day moving average of $30.73. The stock has a market capitalization of $1.11 billion, a P/E ratio of -15.62 and a beta of -0.34. The company has a quick ratio of 9.36, a current ratio of 9.36 and a debt-to-equity ratio of 0.21.

Bicycle Therapeutics (NASDAQ:BCYC) last announced its quarterly earnings data on Thursday, August 5th. The company reported ($0.74) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.71) by ($0.03). Bicycle Therapeutics had a negative return on equity of 50.43% and a negative net margin of 546.62%. The firm had revenue of $1.79 million for the quarter, compared to the consensus estimate of $2.51 million. Equities analysts forecast that Bicycle Therapeutics plc will post -2.76 EPS for the current fiscal year.

In other Bicycle Therapeutics news, CEO Kevin Lee sold 1,808 shares of the firm’s stock in a transaction on Friday, August 27th. The stock was sold at an average price of $36.02, for a total value of $65,124.16. Following the sale, the chief executive officer now directly owns 246,893 shares in the company, valued at $8,893,085.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Lee Kalowski sold 7,950 shares of the firm’s stock in a transaction on Friday, August 27th. The shares were sold at an average price of $35.15, for a total value of $279,442.50. Following the completion of the sale, the chief financial officer now owns 550 shares in the company, valued at $19,332.50. The disclosure for this sale can be found here. Insiders sold 136,447 shares of company stock worth $4,536,400 over the last quarter. 17.90% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of BCYC. Victory Capital Management Inc. increased its holdings in shares of Bicycle Therapeutics by 6.3% during the first quarter. Victory Capital Management Inc. now owns 179,992 shares of the company’s stock valued at $5,376,000 after purchasing an additional 10,742 shares during the period. Moody Aldrich Partners LLC increased its holdings in shares of Bicycle Therapeutics by 1.5% during the first quarter. Moody Aldrich Partners LLC now owns 74,060 shares of the company’s stock valued at $2,212,000 after purchasing an additional 1,067 shares during the period. Acadian Asset Management LLC increased its holdings in shares of Bicycle Therapeutics by 236.5% during the first quarter. Acadian Asset Management LLC now owns 38,460 shares of the company’s stock valued at $1,148,000 after purchasing an additional 27,029 shares during the period. JPMorgan Chase & Co. acquired a new position in shares of Bicycle Therapeutics during the first quarter valued at $39,000. Finally, Barclays PLC acquired a new position in shares of Bicycle Therapeutics during the first quarter valued at $612,000. 48.67% of the stock is currently owned by institutional investors.

About Bicycle Therapeutics (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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