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Bicycle Therapeutics PLC Sponsored ADR (BCYC) Surges 7%: Is This an Indication of Further Gains?

Bicycle Therapeutics PLC Sponsored ADR (BCYC) was a big mover last session on higher-than-average trading volume. The latest trend in earnings estimate revisions might not help the stock continue moving...

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This story originally appeared on Zacks

Bicycle Therapeutics PLC Sponsored ADR BCYC shares ended the last trading session 7% higher at $44.52. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 2.2% gain over the past four weeks.

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Bicycle Therapeutics will announce interim results from phase I/II study evaluating its bicycle toxin conjugate (BTC) candidate, BT5528, targeting EphA2 at the upcoming AACR-NCI-EORTC Virtual International Conference on Molecular Targets and Cancer Therapeutics. The company will also provide updates on BT8009, another BTC targeting Nectin-4 being evaluated in a separate phase I/II study. Its share price is likely to have been driven by the anticipated positive updates. 

This company is expected to post quarterly loss of $0.73 per share in its upcoming report, which represents a year-over-year change of -40.4%. Revenues are expected to be $5.98 million, up 55.7% from the year-ago quarter.

Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.

For Bicycle Therapeutics, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on BCYC going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank 3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>



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