Bicycle Therapeutics (NASDAQ:BCYC) Issues Quarterly Earnings Results

Bicycle Therapeutics (NASDAQ:BCYC) announced its quarterly earnings results on Tuesday. The company reported ($0.77) EPS for the quarter, beating the consensus estimate of ($1.10) by $0.33, Briefing.com reports. Bicycle Therapeutics had a negative return on equity of 49.35% and a negative net margin of 404.14%. The company had revenue of $9.36 million for the quarter, compared to the consensus estimate of $6.13 million. The business’s revenue for the quarter was down 17.9% on a year-over-year basis.

Bicycle Therapeutics Stock Performance

BCYC stock traded down $1.83 during midday trading on Wednesday, hitting $22.55. The stock had a trading volume of 345,410 shares, compared to its average volume of 335,551. The firm has a market capitalization of $964.69 million, a price-to-earnings ratio of -5.07 and a beta of 0.94. Bicycle Therapeutics has a 52 week low of $12.54 and a 52 week high of $27.24. The stock has a 50-day simple moving average of $22.31 and a 200 day simple moving average of $22.42. The company has a current ratio of 10.42, a quick ratio of 10.42 and a debt-to-equity ratio of 0.09.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on BCYC shares. HC Wainwright restated a “buy” rating and issued a $55.00 price objective on shares of Bicycle Therapeutics in a research note on Wednesday. B. Riley downgraded shares of Bicycle Therapeutics from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $33.00 to $28.00 in a research note on Wednesday. Needham & Company LLC restated a “buy” rating and issued a $38.00 price objective on shares of Bicycle Therapeutics in a research note on Wednesday. Finally, Oppenheimer restated an “outperform” rating and issued a $48.00 price objective on shares of Bicycle Therapeutics in a research note on Wednesday. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $45.75.

Insider Buying and Selling

In related news, CEO Kevin Lee sold 3,194 shares of the firm’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $19.64, for a total value of $62,730.16. Following the completion of the transaction, the chief executive officer now directly owns 384,076 shares of the company’s stock, valued at $7,543,252.64. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders sold a total of 4,555 shares of company stock valued at $89,460 over the last ninety days. 8.50% of the stock is owned by company insiders.

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.