Bicycle Therapeutics (BCYC)
NASDAQ:BCYC
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Bicycle Therapeutics
(NASDAQ:BCYC)
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Rating:51Neutral
Price Target:
$4.50
▼(-15.57% Downside)
Action:Reiterated
Date:05/22/26
The score is held down primarily by large ongoing losses and substantial cash burn despite a low-debt balance sheet. Technicals add further pressure with a clear downtrend versus key moving averages and negative momentum indicators. Offsetting these, recent positive clinical updates provide a meaningful near-term catalyst, but they do not fully compensate for weak current financial performance and limited valuation support from a negative P/E.
Positive Factors
Low leverage / strong balance sheet
Extremely low leverage materially reduces financial distress risk and preserves strategic optionality. For a clinical-stage biotech, a strong equity base and minimal debt provide flexibility to fund multiple clinical programs, negotiate partnerships, and withstand the lengthy development timelines without immediate debt servicing pressure.
Negative Factors
High cash burn
Very large and persistent negative operating and free cash flow indicate ongoing reliance on external funding. Sustained burn reduces runway, raises dilution risk from future financings, and limits the company’s ability to self-fund multiple late‑stage trials without partner deals or capital markets access.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage / strong balance sheet
Extremely low leverage materially reduces financial distress risk and preserves strategic optionality. For a clinical-stage biotech, a strong equity base and minimal debt provide flexibility to fund multiple clinical programs, negotiate partnerships, and withstand the lengthy development timelines without immediate debt servicing pressure.
Read all positive factors
Bicycle Therapeutics (BCYC) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$326.93M
Dividend YieldN/A
Average Volume (3M)361.74K
Price to Earnings (P/E)―
Beta (1Y)1.81
Revenue Growth146.03%
EPS Growth-0.87%
CountryUS
Employees305
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-3.15
Shares Outstanding50,373,280
10 Day Avg. Volume301,232
30 Day Avg. Volume361,736
Financial Highlights & Ratios
PEG Ratio-0.26
Price to Book (P/B)0.80
Price to Sales (P/S)6.76
P/FCF Ratio-1.94
Enterprise Value/Market Cap-0.67
Enterprise Value/Revenue-3.47
Enterprise Value/Gross Profit29.22
Enterprise Value/Ebitda1.04
Forecast
1Y Price Target
$12.49Price Target Upside134.39% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering8
EPS Forecast (FY)-2.31
Revenue Forecast (FY)$22.04M
Bicycle Therapeutics Business Overview & Revenue Model
Company Description
Bicycle Therapeutics plc, a clinical-stage biopharmaceutical company, develops a class of medicines for diseases that are underserved by existing therapeutics. Its lead product candidate is BT1718, a bicycle toxin conjugate (BTC), which is in Phas...
How the Company Makes Money
Bicycle Therapeutics primarily makes money through (1) collaboration and licensing arrangements and (2) other early-stage, non-product revenue sources typical of a clinical-stage biotech, rather than from selling approved medicines. Under collabor...
Bicycle Therapeutics Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
66
Positive
Cash Flow
24
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 63.50M | 72.59M | 35.27M | 26.98M | 14.46M | 11.70M |
| Gross Profit | -7.53M | 72.59M | -137.69M | -129.52M | 14.46M | 11.70M |
| EBITDA | -211.50M | -212.18M | -164.89M | -183.40M | -107.21M | -64.09M |
| Net Income | -219.03M | -218.96M | -169.03M | -180.66M | -112.72M | -66.82M |
Balance Sheet | ||||||
| Total Assets | 652.40M | 717.60M | 956.87M | 595.34M | 410.61M | 479.79M |
| Cash, Cash Equivalents and Short-Term Investments | 559.47M | 628.11M | 879.52M | 526.42M | 339.15M | 438.68M |
| Total Debt | 13.87M | 17.52M | 9.49M | 44.96M | 44.33M | 44.34M |
| Total Liabilities | 98.08M | 107.62M | 163.81M | 224.41M | 139.83M | 133.54M |
| Stockholders Equity | 554.32M | 609.98M | 793.06M | 370.93M | 270.78M | 346.25M |
Cash Flow | ||||||
| Free Cash Flow | -229.01M | -252.61M | -165.96M | -63.56M | -105.10M | -16.82M |
| Operating Cash Flow | -228.90M | -249.68M | -164.72M | -60.63M | -86.11M | -14.79M |
| Investing Cash Flow | -2.46M | -2.35M | -1.24M | -2.93M | -18.99M | -2.03M |
| Financing Cash Flow | -143.84K | -131.00K | 519.75M | 250.03M | 6.69M | 320.73M |
Bicycle Therapeutics Technical Analysis
Neutral
5.33
Price Trends
4.76
Negative
5.33
Negative
6.31
Negative
Market Momentum
-0.08
Negative
49.88
Neutral
81.39
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BCYC, the sentiment is Neutral. The current price of 5.33 is above the 20-day moving average (MA) of 4.67, above the 50-day MA of 4.76, and below the 200-day MA of 6.31, indicating a neutral trend. The MACD of -0.08 indicates Negative momentum. The RSI at 49.88 is Neutral, neither overbought nor oversold. The STOCH value of 81.39 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for BCYC.
Bicycle Therapeutics Risk Analysis
Bicycle Therapeutics disclosed 75 risk factors in its most recent earnings report. Bicycle Therapeutics reported the most risks in the "Tech & Innovation" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Bicycle Therapeutics Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
67 Neutral | $834.10M | -563.27 | -5.68% | ― | 79.89% | 68.13% | |
60 Neutral | $1.43B | ― | -35.89% | ― | ― | -63.41% | |
56 Neutral | $2.30B | -9.84 | -253.85% | ― | ― | -15.28% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
51 Neutral | $326.93M | -1.49 | -35.74% | ― | 146.03% | -0.87% | |
51 Neutral | $2.01B | -67.36 | 31.23% | ― | ― | ― |
* Healthcare Sector Average
BCYC
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Bicycle Therapeutics Corporate Events
Business Operations and Strategy
Bicycle Therapeutics Reports Positive Duravelo-2 Phase 2 Data
Positive
May 21, 2026
On May 21, 2026, Bicycle Therapeutics reported initial data from its Duravelo-2 randomized Phase 2 trial of zelenectide pevedotin in previously untreated metastatic urothelial cancer, showing response rates comparable to standard of care and a pot...
Business Operations and StrategyProduct-Related Announcements
Bicycle Therapeutics Advances EphA2 Oncology Pipeline With New Data
Positive
Apr 20, 2026
On April 20, 2026, Bicycle Therapeutics reported new clinical and preclinical data from its EphA2 pipeline at the AACR Annual Meeting, highlighting progress for its Bicycle Drug Conjugate nuzefatide pevedotin in hard-to-treat tumors. Phase 1/2 com...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.