Bicycle Therapeutics (NASDAQ:BCYC) Posts Quarterly Earnings Results, Beats Estimates By $0.10 EPS

Bicycle Therapeutics (NASDAQ:BCYC) released its quarterly earnings data on Tuesday. The company reported ($0.75) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.85) by $0.10, Briefing.com reports. The company had revenue of $3.70 million during the quarter, compared to the consensus estimate of $5.47 million. Bicycle Therapeutics had a negative return on equity of 27.35% and a negative net margin of 450.64%. The firm’s revenue was down 30.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($1.16) earnings per share.

Bicycle Therapeutics Stock Performance

NASDAQ:BCYC traded up $0.35 during mid-day trading on Wednesday, reaching $11.45. The stock had a trading volume of 77,918 shares, compared to its average volume of 301,898. Bicycle Therapeutics has a one year low of $10.91 and a one year high of $28.67. The firm has a 50 day moving average price of $13.42 and a two-hundred day moving average price of $19.52. The stock has a market capitalization of $790.62 million, a P/E ratio of -3.48 and a beta of 0.93.

Insider Activity at Bicycle Therapeutics

In related news, CEO Kevin Lee sold 9,038 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $14.09, for a total transaction of $127,345.42. Following the completion of the sale, the chief executive officer now owns 495,026 shares in the company, valued at approximately $6,974,916.34. This trade represents a 1.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Bros. Advisors Lp Baker bought 985,397 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The shares were acquired at an average price of $13.76 per share, with a total value of $13,559,062.72. Following the transaction, the director now directly owns 9,537,643 shares of the company’s stock, valued at $131,237,967.68. This represents a 11.52 % increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 27,677 shares of company stock worth $392,413 over the last quarter. 8.50% of the stock is owned by corporate insiders.

Analyst Ratings Changes

BCYC has been the topic of several recent analyst reports. Royal Bank of Canada restated an “outperform” rating and set a $35.00 price objective on shares of Bicycle Therapeutics in a research note on Friday, November 1st. Stephens restated an “equal weight” rating and set a $15.00 price objective on shares of Bicycle Therapeutics in a research note on Wednesday, January 22nd. Needham & Company LLC reiterated a “buy” rating and set a $30.00 target price on shares of Bicycle Therapeutics in a research note on Wednesday. B. Riley lowered their target price on Bicycle Therapeutics from $28.00 to $17.00 and set a “neutral” rating on the stock in a research note on Friday, December 13th. Finally, HC Wainwright restated a “buy” rating and issued a $33.00 price objective on shares of Bicycle Therapeutics in a research note on Wednesday. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $29.14.

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.