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Bicycle Therapeutics PLC Sponsored ADR (BCYC) Surges 9.0%: Is This an Indication of Further Gains?

Bicycle Therapeutics PLC Sponsored ADR (BCYC) shares soared 9% in the last trading session to close at $22.83. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 6.9% loss over the past four weeks.

The sudden soaring of the stock price is likely due to the company's decision to move forward with the expedited development of BT8009 for metastatic bladder (urothelial) cancer after recent discussions with the FDA. Per Bicycle, the company has aligned with the FDA to conduct a registrational phase II/III Duravelo-2 study which could provide the basis for an accelerated approval in untreated (first-line) and previously treated (second-line plus) metastatic bladder cancer.

This company is expected to post quarterly loss of $1.06 per share in its upcoming report, which represents a year-over-year change of -10.4%. Revenues are expected to be $21.29 million, up 600.4% from the year-ago quarter.

While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

For Bicycle Therapeutics PLC Sponsored ADR, 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 >>>>

Bicycle Therapeutics PLC Sponsored ADR is part of the Zacks Medical - Biomedical and Genetics industry. Seattle Genetics (SGEN), another stock in the same industry, closed the last trading session 1.8% higher at $208.13. SGEN has returned 5% in the past month.

For Seattle Genetics , the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.72. This represents a change of +30.1% from what the company reported a year ago. Seattle Genetics currently has a Zacks Rank of #4 (Sell).

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