Symbols / BCYC $4.99 +1.22% Bicycle Therapeutics plc

Healthcare • Biotechnology • United Kingdom • NMS
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About

Bicycle Therapeutics plc, a clinical-stage pharmaceutical company, develops a class of medicines for diseases that are underserved by existing therapeutics in the United States and the United Kingdom. The company's products pipeline include zelenectide pevedotin, a bicycle toxin conjugate (BTC), which is in phase II clinical trials for the treatment of high nectin-4 expressing tumors; nuzefatide pevedotin (EphA2), a BTC that is in phase I/II clinical trials to treat Ephrin type A receptor 2 expressing tumor; BT7480, a Bicycle tumor-targeted immune cell agonist molecule, which is in phase I/II targeting nectin-4 and agonizing CD137; and BT1702, a theranostic BRC molecule targeting MT1-MMP for which IND-enabling activities are ongoing. In addition, it develops Novel CNS targets, which is in preclinical trial targeting CNS disease; Novel neuromuscular targets, which is in preclinical trial targeting neuromuscular disease; and programs that are in preclinical trial targeting radiopharmaceutical. Further, the company collaborates with biopharmaceutical companies and organizations to develop programs in therapeutic areas. It has collaboration and license agreement with Bayer Consumer Care AG; Novartis Pharma AG; Ionis Pharmaceuticals, Inc.; Genentech, Inc; and AstraZeneca AB. Bicycle Therapeutics plc was incorporated in 2009 and is headquartered in Cambridge, the United Kingdom.

Fundamentals
Scroll to Statements
Market Cap 347.14M Enterprise Value -263.42M Income -218.96M Sales 72.59M Book/sh — Cash/sh 9.01
Dividend Yield — Payout 0.00% Employees 288 IPO — P/E — Forward P/E -2.63
PEG — P/S — P/B — P/C — EV/EBITDA 1.11 EV/Sales -3.63
Quick Ratio 11.65 Current Ratio 11.98 Debt/Eq 2.76 LT Debt/Eq — EPS (ttm) -3.16 EPS next Y -1.90
EPS Growth — Revenue Growth 11.93% Earnings 2026-04-30 ROA -18.13% ROE -31.21% ROIC —
Gross Margin -215.60% Oper. Margin -42.77% Profit Margin 0.00% Shs Outstand — Shs Float — Short Float 5.90%
Short Ratio 4.20 Short Interest — 52W High 9.55 52W Low 4.24 Beta 1.65 Avg Volume 464.36K
Volume 373.24K Target Price $12.56 Recom Buy Prev Close $4.93 Price $4.99 Change 1.22%
Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
$12.56
Mean price target
2. Current target
$4.99
Latest analyst target
3. DCF / Fair value
$12.56
Proxy: analyst mean price target (no FCF/EPS data available).
Ratings
Current target
$4.99
Low
$6.00
High
$36.00
Mean
$12.56

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2026-04-08 main Morgan Stanley Equal-Weight → Equal-Weight $12
2026-03-18 main Oppenheimer Outperform → Outperform $36
2026-03-18 main RBC Capital Sector Perform → Sector Perform $7
2026-03-18 main Citizens Market Outperform → Market Outperform $8
2026-03-18 main Needham Buy → Buy $15
2025-11-24 init Truist Securities — → Hold $10
2025-10-31 main Citizens Market Outperform → Market Outperform $12
2025-10-31 down RBC Capital Outperform → Sector Perform $11
2025-08-12 main JMP Securities Market Outperform → Market Outperform $10
2025-08-12 main Morgan Stanley Equal-Weight → Equal-Weight $13
2025-08-11 main Oppenheimer Outperform → Outperform $44
2025-07-17 main RBC Capital Outperform → Outperform $25
2025-05-06 main Morgan Stanley Equal-Weight → Equal-Weight $17
2025-05-02 main RBC Capital Outperform → Outperform $32
2025-05-02 main B. Riley Securities Neutral → Neutral $14
2025-05-02 main JMP Securities Market Outperform → Market Outperform $22
2025-05-02 reit Needham Buy → Buy $29
2025-05-01 main Barclays Overweight → Overweight $15
2025-04-29 main Needham Buy → Buy $29
2025-04-09 reit Needham Buy → Buy $30
News
RSS: Latest BCYC news
Insider Transactions
Filed Date Insider Relationship Transaction Shares Price Value SEC
2026-01-02 BAKER BROS ADVISORS L.P. Beneficial Owner of more than 10% of a Class of Security — 38,000 $0.00 $0
2026-01-02 HOPPENOT HERVE Director — 3,032 $0.00 $0
2025-10-03 HANNAY MICHAEL CHARLES FERGUSON Officer — 723 $8.40 $6,076
2025-10-02 YOUNG ALETHIA R. Chief Financial Officer — 482 $8.40 $4,103
2025-10-02 SWANTON ROBERT CHARLES Director — 102 $8.55 $872
2025-04-03 LEE KEVIN Chief Executive Officer — 5,669 $7.48 $43,612
2025-04-03 MILNES ALISTAIR Chief Operating Officer — 2,171 $7.48 $16,851
2025-04-03 HANNAY MICHAEL CHARLES FERGUSON Officer — 733 $7.48 $5,735
2025-04-02 YOUNG ALETHIA R. Chief Financial Officer — 215 $8.02 $1,724
2025-01-06 THOMPSON TRAVIS ALVIN Officer — 4,595 $14.09 $67,293
Financials
Statement View
Amounts in millions (2 decimals, no suffix) • EPS per share (2 decimals) • Trend = period evolution • YoY Growth = previous period %
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Total Revenue
72.59
+105.77%
35.27
+30.76%
26.98
+86.52%
14.46
Operating Revenue
72.59
+105.77%
35.27
+30.76%
26.98
+86.52%
14.46
Operating Expense
320.30
+31.04%
244.43
+12.68%
216.92
+65.44%
131.12
Research And Development
240.28
+38.92%
172.97
+10.52%
156.50
+91.76%
81.61
Selling General And Administration
80.02
+11.98%
71.46
+18.26%
60.43
+22.06%
49.51
General And Administrative Expense
80.02
+11.98%
71.46
+18.26%
60.43
+22.06%
49.51
Salaries And Wages
49.80
+18.13%
42.16
+17.49%
35.88
+18.29%
30.33
Other Gand A
30.22
+3.13%
29.30
-51.50%
60.43
+22.06%
49.51
Total Expenses
320.30
+31.04%
244.43
+12.68%
216.92
+65.44%
131.12
Operating Income
-247.72
-18.44%
-209.15
-10.11%
-189.95
-62.83%
-116.65
Total Operating Income As Reported
-247.06
-17.72%
-209.87
-10.49%
-189.95
-62.83%
-116.65
EBITDA
-212.18
-28.68%
-164.89
+2.66%
-169.40
-58.01%
-107.21
Normalized EBITDA
-212.83
-26.92%
-167.69
+1.01%
-169.40
-58.01%
-107.21
Reconciled Depreciation
6.42
-10.48%
7.17
+9.59%
6.55
+77.45%
3.69
EBIT
-218.60
-27.05%
-172.07
+2.20%
-175.94
-58.66%
-110.90
Total Unusual Items
0.65
-76.70%
2.80
0.00
0.00
Total Unusual Items Excluding Goodwill
0.65
-76.70%
2.80
0.00
0.00
Special Income Charges
0.00
-100.00%
3.52
0.00
0.00
Other Special Charges
—
-3.52
—
—
Net Income
-218.96
-29.54%
-169.03
+6.44%
-180.66
-60.28%
-112.72
Pretax Income
-218.81
-25.90%
-173.80
+3.02%
-179.21
-56.87%
-114.24
Net Non Operating Interest Income Expense
28.26
-13.20%
32.55
+203.14%
10.74
+345.23%
2.41
Interest Expense Non Operating
0.21
-88.09%
1.73
-46.98%
3.26
-2.42%
3.34
Net Interest Income
28.26
-13.20%
32.55
+203.14%
10.74
+345.23%
2.41
Interest Expense
0.21
-88.09%
1.73
-46.98%
3.26
-2.42%
3.34
Interest Income Non Operating
28.46
-16.98%
34.28
+144.85%
14.00
+143.26%
5.76
Interest Income
28.46
-16.98%
34.28
+144.85%
14.00
+143.26%
5.76
Other Income Expense
0.65
-76.70%
2.80
+571.89%
-0.59
-7.03%
-0.56
Other Non Operating Income Expenses
—
4.48
—
—
Gain On Sale Of Security
0.65
+190.82%
-0.72
-21.04%
-0.59
-7.03%
-0.56
Tax Provision
0.15
+103.19%
-4.76
-427.04%
1.46
+195.60%
-1.52
Tax Rate For Calcs
0.00
+811.84%
0.00
-85.57%
0.00
+1361.54%
0.00
Tax Effect Of Unusual Items
0.16
+112.43%
0.08
0.00
0.00
Net Income Including Noncontrolling Interests
-218.96
-29.54%
-169.03
+6.44%
-180.66
-60.28%
-112.72
Net Income From Continuing Operation Net Minority Interest
-218.96
-29.54%
-169.03
+6.44%
-180.66
-60.28%
-112.72
Net Income From Continuing And Discontinued Operation
-218.96
-29.54%
-169.03
+6.44%
-180.66
-60.28%
-112.72
Net Income Continuous Operations
-218.96
-29.54%
-169.03
+6.44%
-180.66
-60.28%
-112.72
Normalized Income
-219.45
-27.77%
-171.76
+4.93%
-180.66
-60.28%
-112.72
Net Income Common Stockholders
-218.96
-29.54%
-169.03
+6.44%
-180.66
-60.28%
-112.72
Diluted EPS
-3.16
-8.97%
-2.90
+42.91%
-5.08
-33.68%
-3.80
Basic EPS
-3.16
-8.97%
-2.90
+42.91%
-5.08
-33.68%
-3.80
Basic Average Shares
69.28
+19.02%
58.21
+63.54%
35.59
+20.00%
29.66
Diluted Average Shares
69.28
+19.02%
58.21
+63.54%
35.59
+20.00%
29.66
Diluted NI Availto Com Stockholders
-218.96
-29.54%
-169.03
+6.44%
-180.66
-60.28%
-112.72
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Total Assets
717.60
-25.01%
956.87
+60.73%
595.34
+44.99%
410.61
Current Assets
682.88
-26.46%
928.61
+65.27%
561.87
+52.11%
369.38
Cash Cash Equivalents And Short Term Investments
628.11
-28.58%
879.52
+67.07%
526.42
+55.22%
339.15
Cash And Cash Equivalents
628.11
-28.58%
879.52
+67.07%
526.42
+55.22%
339.15
Cash Financial
—
—
—
—
Receivables
35.59
-0.17%
35.65
+48.31%
24.04
+13.35%
21.21
Accounts Receivable
—
—
0.00
-100.00%
2.04
Other Receivables
35.59
-0.17%
35.65
+48.31%
24.04
+25.45%
19.16
Prepaid Assets
—
—
—
—
Other Current Assets
19.18
+42.80%
13.43
+17.76%
11.41
+26.42%
9.02
Total Non Current Assets
34.71
+22.82%
28.26
-15.57%
33.48
-18.80%
41.23
Net PPE
21.91
+27.45%
17.19
-37.91%
27.68
-15.52%
32.77
Gross PPE
48.09
+33.06%
36.14
-12.02%
41.08
+1.10%
40.63
Accumulated Depreciation
-26.18
-38.15%
-18.95
-41.48%
-13.39
-70.33%
-7.86
Properties
0.00
0.00
0.00
0.00
Machinery Furniture Equipment
1.50
-19.94%
1.87
+38.18%
1.35
-0.81%
1.36
Other Properties
34.56
+47.90%
23.36
-18.66%
28.72
+0.68%
28.53
Leases
12.03
+10.35%
10.90
-0.88%
11.00
+2.46%
10.74
Other Non Current Assets
12.80
+15.63%
11.07
+91.19%
5.79
-31.52%
8.46
Total Liabilities Net Minority Interest
107.62
-34.30%
163.81
-27.01%
224.41
+60.49%
139.83
Current Liabilities
56.98
-15.24%
67.23
-3.32%
69.54
+30.36%
53.34
Payables And Accrued Expenses
34.13
-2.39%
34.97
+34.32%
26.03
+41.49%
18.40
Payables
9.67
-38.78%
15.79
+21.02%
13.05
+101.64%
6.47
Accounts Payable
9.67
-38.78%
15.79
+21.02%
13.05
+101.64%
6.47
Current Accrued Expenses
24.46
+27.58%
19.17
+47.70%
12.98
+8.85%
11.93
Pensionand Other Post Retirement Benefit Plans Current
17.00
+4.47%
16.27
+21.49%
13.39
+34.91%
9.93
Current Debt And Capital Lease Obligation
2.76
-49.92%
5.50
+12.86%
4.88
+56.03%
3.12
Current Capital Lease Obligation
2.76
-49.92%
5.50
+12.86%
4.88
+56.03%
3.12
Current Deferred Liabilities
2.96
-70.94%
10.19
-59.20%
24.98
+22.33%
20.42
Current Deferred Revenue
2.96
-70.94%
10.19
-59.20%
24.98
+22.33%
20.42
Other Current Liabilities
0.14
-54.21%
0.30
+15.56%
0.26
-82.54%
1.47
Total Non Current Liabilities Net Minority Interest
50.64
-47.57%
96.58
-37.64%
154.88
+79.08%
86.48
Long Term Debt And Capital Lease Obligation
14.10
+253.28%
3.99
-90.04%
40.08
-2.72%
41.20
Long Term Debt
—
—
30.70
+1.26%
30.32
Long Term Capital Lease Obligation
14.10
+253.28%
3.99
-57.47%
9.38
-13.81%
10.88
Non Current Deferred Liabilities
35.51
-61.18%
91.47
-17.01%
110.22
+165.87%
41.45
Non Current Deferred Revenue
35.51
-61.18%
91.47
-17.01%
110.22
+165.87%
41.45
Other Non Current Liabilities
1.03
-7.94%
1.12
-75.52%
4.58
+19.59%
3.83
Stockholders Equity
609.98
-23.09%
793.06
+113.80%
370.93
+36.98%
270.78
Common Stock Equity
609.98
-23.09%
793.06
+113.80%
370.93
+36.98%
270.78
Capital Stock
0.89
+0.45%
0.89
+61.82%
0.55
+42.12%
0.39
Common Stock
0.89
+0.45%
0.89
+61.82%
0.55
+42.12%
0.39
Share Issued
69.37
+0.44%
69.06
+62.76%
42.43
+42.04%
29.87
Ordinary Shares Number
69.37
+0.44%
69.06
+62.76%
42.43
+42.04%
29.87
Additional Paid In Capital
1,512.34
+2.68%
1,472.84
+66.72%
883.45
+46.97%
601.11
Retained Earnings
-899.75
-32.16%
-680.79
-33.03%
-511.76
-54.57%
-331.10
Gains Losses Not Affecting Retained Earnings
-3.50
-3045.38%
0.12
+109.13%
-1.30
-436.95%
0.39
Other Equity Adjustments
-3.50
-3045.38%
0.12
+109.13%
-1.30
-436.95%
0.39
Total Equity Gross Minority Interest
609.98
-23.09%
793.06
+113.80%
370.93
+36.98%
270.78
Total Capitalization
609.98
-23.09%
793.06
+97.46%
401.63
+33.39%
301.10
Working Capital
625.90
-27.34%
861.38
+74.96%
492.33
+55.78%
316.04
Invested Capital
609.98
-23.09%
793.06
+97.46%
401.63
+33.39%
301.10
Total Debt
16.85
+77.52%
9.49
-78.88%
44.96
+1.42%
44.33
Capital Lease Obligations
16.85
+77.52%
9.49
-33.42%
14.26
+1.77%
14.01
Net Tangible Assets
609.98
-23.09%
793.06
+113.80%
370.93
+36.98%
270.78
Tangible Book Value
609.98
-23.09%
793.06
+113.80%
370.93
+36.98%
270.78
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Operating Cash Flow
-249.68
-51.57%
-164.72
-171.70%
-60.63
+29.59%
-86.11
Cash Flow From Continuing Operating Activities
-249.68
-51.57%
-164.72
-171.70%
-60.63
+29.59%
-86.11
Net Income From Continuing Operations
-218.96
-29.54%
-169.03
+6.44%
-180.66
-60.28%
-112.72
Depreciation Amortization Depletion
6.42
-10.48%
7.17
+9.59%
6.55
+77.45%
3.69
Depreciation And Amortization
6.42
-10.48%
7.17
+9.59%
6.55
+77.45%
3.69
Other Non Cash Items
—
-3.23
-409.29%
1.04
+136.20%
0.44
Stock Based Compensation
39.46
+3.63%
38.08
+17.26%
32.48
+21.28%
26.78
Deferred Tax
-0.85
+83.74%
-5.23
-258.08%
3.31
+166.44%
-4.98
Deferred Income Tax
-0.85
+83.74%
-5.23
-258.08%
3.31
+166.44%
-4.98
Operating Gains Losses
—
0.95
—
—
Change In Working Capital
-75.75
-126.48%
-33.45
-143.63%
76.66
+11308.18%
0.67
Change In Receivables
2.89
+124.21%
-11.95
-893.93%
-1.20
+89.41%
-11.35
Changes In Account Receivables
0.00
0.00
-100.00%
2.48
+251.25%
-1.64
Change In Prepaid Assets
-5.82
-184.54%
-2.04
+1.35%
-2.07
-2.57%
-2.02
Change In Payables And Accrued Expense
-2.78
-121.72%
12.79
+23.01%
10.40
-30.31%
14.92
Change In Accrued Expense
4.09
-57.80%
9.70
+304.42%
2.40
-80.60%
12.36
Change In Payable
-6.87
-322.00%
3.10
-61.32%
8.00
+212.46%
2.56
Change In Account Payable
-6.87
-322.00%
3.10
-61.32%
8.00
+212.46%
2.56
Change In Other Working Capital
-69.19
-116.54%
-31.95
-146.34%
68.95
+3329.56%
-2.13
Change In Other Current Assets
4.60
+4.43%
4.40
+5.16%
4.19
+55.15%
2.70
Change In Other Current Liabilities
-5.46
-16.11%
-4.70
-30.53%
-3.60
-148.96%
-1.45
Investing Cash Flow
-2.35
-90.28%
-1.24
+57.84%
-2.93
+84.57%
-18.99
Cash Flow From Continuing Investing Activities
-2.35
-90.28%
-1.24
+57.84%
-2.93
+84.57%
-18.99
Net PPE Purchase And Sale
-2.35
-90.28%
-1.24
+57.84%
-2.93
+84.57%
-18.99
Purchase Of PPE
-2.35
-90.28%
-1.24
+57.84%
-2.93
+84.57%
-18.99
Capital Expenditure
-2.35
-90.28%
-1.24
+57.84%
-2.93
+84.57%
-18.99
Financing Cash Flow
-0.13
-100.03%
519.75
+107.88%
250.03
+3636.21%
6.69
Cash Flow From Continuing Financing Activities
-0.13
-100.03%
519.75
+107.88%
250.03
+3636.21%
6.69
Net Issuance Payments Of Debt
-0.17
+99.47%
-31.91
0.00
0.00
Issuance Of Debt
—
—
0.00
0.00
Repayment Of Debt
-0.17
+99.47%
-31.91
0.00
0.00
Long Term Debt Issuance
—
—
0.00
0.00
Long Term Debt Payments
-0.17
+99.47%
-31.91
0.00
0.00
Net Long Term Debt Issuance
-0.17
+99.47%
-31.91
0.00
0.00
Net Common Stock Issuance
0.00
-100.00%
544.13
+118.22%
249.34
+4272.17%
5.70
Proceeds From Stock Option Exercised
0.04
-99.51%
7.53
+1003.81%
0.68
-31.04%
0.99
Changes In Cash
-252.16
-171.27%
353.79
+89.73%
186.47
+289.49%
-98.41
Effect Of Exchange Rate Changes
0.80
+215.85%
-0.69
-151.56%
1.35
+220.18%
-1.12
Beginning Cash Position
880.07
+67.01%
526.97
+55.38%
339.15
-22.69%
438.68
End Cash Position
628.72
-28.56%
880.07
+67.01%
526.97
+55.38%
339.15
Free Cash Flow
-252.03
-51.86%
-165.96
-161.12%
-63.56
+39.53%
-105.10
Interest Paid Supplemental Data
0.08
-94.41%
1.40
-49.29%
2.75
-1.43%
2.79
Income Tax Paid Supplemental Data
—
0.79
+40.93%
0.56
-74.78%
2.23
Common Stock Issuance
0.00
-100.00%
544.13
+118.22%
249.34
+4272.17%
5.70
Issuance Of Capital Stock
0.00
-100.00%
544.13
+118.22%
249.34
+4272.17%
5.70
Net Preferred Stock Issuance
—
—
—
—
Preferred Stock Issuance
—
—
—
—
SEC Filings

Recent 10-K, 10-Q, 8-K, and Form 4 (insider) filings.

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